30 replies to this topic

[IYB]

30 year fixed mortgaqge rate is down to 5.25% and still dropping- 50 Basis point drop in last few hours. Wells Fargo and Security National are so swamped with rate locks that their entire Web networks have crashed. They are taking locks by phone. The risk premium has dropped off big time. Looks like the banking system finally may be getting some traction which, if true, would indicate a sea change is occurring. And we may be starting a refi boom of unprecendented porportions, as every mortgage in America is or will soon be "over market". Let's see if it holds this time- my gut says it will. But we've had a lot of false starts over last 120 days, so caution still the order of the day. "May you live in interesting times."

[atlasshrugged]

30 year fixed mortgaqge rate is down to 5.25% and still dropping- 50 Basis point drop in last few hours. Wells Fargo and Security National are so swamped with rate locks that their entire Web networks have crashed. They are taking locks by phone. The risk premium has dropped off big time. Looks like the banking system finally may be getting some traction which, if true, would indicate a sea change is occurring. And we may be starting a refi boom of unprecendented porportions, as every mortgage in America is or will soon be "over market".

Let's see if it holds this time- my gut says it will. But we've had a lot of false starts over last 120 days, so caution still the order of the day. "May you live in interesting times."

what is a thirty year and fifteen year jumbo at today?

remind me what is the threshold (price) that determines jumbo

[humble1]

thanks, IYB. that really IS big news. word should get around very quickly.

[eminimee]

this is a good thing...at this particular time of the market and particular time of the year...B..ish... tanks to you and yours..and the turkey!!

[IYB]

what is a thirty year and fifteen year jumbo at today?

remind me what is the threshold (price) that determines jumbo

Ratesheets are not keeping up with market, but as best I can estimate 30 year "conforming jumbo" around 5.5% and 15 year 5.25 to 5.375%. Jumbo in Hawaii is over $625,500 and stateside is over $417,000- but in 2009 the conforming jumbo loan limit only goes to $720K and $480K respectively. Over that, you are into Alt A loans, which are way higher.

[ogm]

Lets get the party started. I'm long and loaded. All signs point to a rally coming.

[atlasshrugged]

what is a thirty year and fifteen year jumbo at today?

remind me what is the threshold (price) that determines jumbo

Ratesheets are not keeping up with market, but as best I can estimate 30 year "conforming jumbo" around 5.5% and 15 year 5.25 to 5.375%. Jumbo in Hawaii is over $625,500 and stateside is over $417,000- but in 2009 the conforming jumbo loan limit only goes to $720K and $480K respectively. Over that, you are into Alt A loans, which are way higher.

thanks don,,what a 15 year conforming (non jumbo)at right now

[IYB]

Lets get the party started. I'm long and loaded. All signs point to a rally coming.

I've been buyin' double long ETF's across the board.....D

[humble1]

we're up about 15 handles or more since IYB posted that. this is the IYB rally!

[ogm]

Whatever Fed did today is having an immidiate effect. But the setup was there, this is apparently the trigger. I do think this will last all the way into Obama inaguration. Positive divergence on summations starting to look good.

Edited by ogm, 25 November 2008 - 03:12 PM.