Thanks James…I was just a bit disappointed because I applied for this loan in early June when rates were at their lowest. The rate I was quoted then and thought I had locked-in was 5%, 15 yr. with 2 points. Now because underwriting is taking a ridiculous amount of time the rates have creeped back up. I believe my broker is losing money on this loan or at a minimum making nothing in order to try and keep it as close to the originally quoted rate. So it makes me feel better that I am getting a very good rate still since they’ve gone up quite a bit since then.
Posted by James (fl) on July 31, 2003 at 19:22:03:
I hope you took it running with the way rates went up today. one point up alone today. If you didn’t lock it in, you might not get it tomorrow. Just a warning.
And yes, that is a GREAT RATE for a non owner occupied cash out refi! Why are you even shopping anymore/> TAKE IT QUICK!
James