Mres

212 La Gross Way, Chatsworth CA 91311 For Sale!

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Market update! So, Banks have raised their rates daily since the Fed drop in discount rate. We have had a run on money and banks are struggling on making their 10% reserve requirement to stay in business. Mortgage Securities are one of the easiest ways for them to sell at any time, like a stock and create liquidity to assure their 10% holdings. Currently there are more banks selling than buying. Part of the Fed stimulus is pledging to buy the Mortgage Securities from the ...banks to assure the selling and buying equal out to the banks which assure they can stay in business without taking giant losses. The upward movement in pricing is hurting interest rates compiled with lending being so busy they can not keep up with the demand. Instead of going on a hiring spree they have chosen to increase rates to push business away until they have time to breathe easier. Once banks start funding out their pipelines they will lower rates and become more competitive. I am recommending my clients take a breath and have their loan package pre approved so when rates drop you are in perfect position to lock in. We need banks to stabilize and fund out their current pipelines of new business for rates to drop and so you can lock in.

Great credit scores and plenty of equity? Call me, rates are at 3% APR for some homeowners!