HOW LOW CAN THEY GO?

By
Real Estate Agent with REALTY EXECUTIVES TUCSON ELITE DRE# SA113961000

HOW LOW CAN THEY GO?

Two really recent interest rate quotes, from local and really reputable lenders I use are very low. 3.375%, no points, and 3.125% no points. This is getting to the point that interest is almost a non factor with a loan. FICO scores, not so much. A very recent article says scores on closed loans averaged 750 points? Huh?

That means a LOT of decent buyers got shut out. Average rejected score…704 points.

Lower rates combined with seemingly unreasonably high FICO scores means lower sales.

If I can provide more information about Tucson AZ real estate and surrounding areas, the housing market, or otherwise assist you, friends or family in a home search, please contact me by phone or text at (520) 850-5995, call me toll free at (800) 557-9798 or email me at TucsonAgent@msn.com

Website is www.TucsonBuyersAgent.com

Jon Quist is Tucson’s Buyers Only Agent

Serving Tucson, Oro Valley, Marana, Vail, Sahuarita, Saddlebrooke, La Reserve, The Catalina Foothills, The Sabino Canyon area, and Eastern Pima County

 

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Rainmaker
917,438
Ginger Harper
Coldwell Banker Sea Coast Advantage - Southport, NC
Your Southport~Oak Island Agent~Brunswick County!

Not fair.  Bringing the rate down and making the criteria stiffer. Just not fair.

Oct 19, 2012 05:08 AM #1
Rainmaker
3,268,529
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hi Jon -- yes, interest rates are low but qualifying for and closing loans remains difficult.   

Oct 24, 2012 05:06 PM #2
Rainmaker
216,493
Christine McDaniel
Coldwell Banker Residential Brokerage Porter Co. - Crown Point, IN
Broker Associate

Jon,  Well I guess that would explain why we are having such a hard time with loans going through!

Dec 02, 2012 02:35 PM #3
Rainmaker
427,439
Leslie Ebersole
Swanepoel T3 Group - Saint Charles, IL
I help brokers build businesses they love.

To my ActiveRain friend, 
Thank you for sharing your knowledge and experience with all of us in the community.

I wish you all things bright and beautiful
at this holiday time and throughout the year. 

 




Dec 23, 2012 11:54 PM #4
Rainmaker
899,588
Joy Daniels
Joy Daniels Real Estate Group, Ltd. - Harrisburg, PA

It is crazy Jon - the lenders have made some unreasonable demands.  Have a happy new year!

Jan 17, 2013 11:12 PM #5
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Rainmaker
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Jon Quist

Tucson's BUYERS ONLY Realtor since 1996
Moving to Tucson? Call me.
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