March 15th, 2012 2:52 PM by BILL WILBANKS
Don't wait too long folks. rates have bumped up a full 0.25% (quarter) this week on sharp movement of the 10 year bond and greater than a 200 bp rise on the DOW. Investors appear to be pulling out for higher returns at the moment than what the bond has been offering for many months. Most lenders appear to be quoting 4 to 4.125% on the vanilla owner-occupied 30 year fixed right now. We still have 3.875% available from our lowest priced wholesale lender but it remains to be seen how much longer it will be before we have to move into the 4% levels. Don't put it off any longer or you may be looking at these rates in your rear view mirror. And if you haven't checked out the HARP II program for high LTV borrowers and those upsidedown on equity...............WHY NOT?