Orlando Mortgage Blog

Both Conventional and FHA rates are back to recent lows. Our rate sheet is a "must see" today with the 30 year as low as 4.625% no points. But keep in mind that the Feds stop supporting the market in June as QE2 goes away. Who will fill the void? That's the $64,000 question at the moment. Whoever it might be, and surely someone will, it will undoubtedly come at a higher price for those willing to pick up the risk. It has to. How high will it go? If history is any help at all we certainly know that it will most probably happen very fast. The Mortgage Bankers Association has forecast a 0.7% increase for 2011 and a possible 2012 high at 6.0%. As rates climb, refinance business as a percentage of mortgage origination overall is expected to fall from a 4Q high of 78% to 25% in 4Q 2011 and 2012 full year as rates rise and those that could or would...have refinanced. Try not to be one of those that should've and didn't get off the dime. I don't know how to put it any more clearly.

If you can refinance and you don't...don't blame it on hindsight.