WOW: A 4.5% with one point on a 30-year conforming fixed rate mortgage. It may be a moment of “just one brief afternoon here and there”, or a trend for rates to push downward — past 30-year lows. Rate-motivated buyers should be absolutely ECSTATIC about now. Remember, though, that underwriting guidelines are in constant flux, too, tightening on a daily basis, so if your borrowers don’t have a pre-approval or full approval, avoid those last-minute surprises and get those approvals prior to writing a contract.
We are here to help and can provide you with the latest underwriting and credit guidelines, so please call if you have questions.