4.50% new low rate

By
Mortgage and Lending with iMortgage

I came in this morning early as I do everyday, got my coffee and opened up my computer. The morning rate sheets were waiting to be downloaded and I could not believe my eyes. A 30 yrs fixed rate loan is down to 4.50%.

I guess I know what I will be doing for the rest of the day and the weekend. I'll be calling every old client that I ever did business and ever talked to and let them know what the rates are doing and see if they could use lower payments.

This is my Christmas present. Hopefully lots of refinances and maybe even a few purchases. No reccession here for me. Well this could be a good holiday and maybe with these rates we could have a way better '09.

These rates should stimulate any buyer who was on the fence to take advantage of the low home prices and incredible rates. The best of both worlds.

I wish all of you lots of luck and a great Holiday.

Comments (2)

Richard Dolbeare, R(B)
eXp Realty - Wailuku, HI
R(B), ABR, CRS...Hawaii Multi-Island Specialist

It may be time for we agents to call about a loan for ourselves as well!

Dec 12, 2008 05:38 AM
Lori Isaacson
Credit Restoration Consultants - Plantation, FL

I am noticing that more and more people are trying to either by or refinance now that the rates have dropped. Unfortunately for them they are finding out that their credit is not what they need it to be. My phone has been ringing off the hook with people needing help yesterday with their credit. Unfortunately they did not get in this position overnight and it can not be fixed that fast either. If anyone tells you it can be done in less than 30 days they are lying. I am tying to work with them as fast as I can to make it happen. Even if we expedite the service it takes time. I wish people payed more attention to their credit before they needed something. I try hard to educate the consumer. good luck with those calls. Don't be surprised if the people you call need help with their credit.

Happy Friday!!

Lori

Dec 19, 2008 02:05 AM