Bob Moulton
Bob Moulton
average mortgage people rate
What I do for people is I look at the weighted average of what their mortgage rate is.
advantages financial flip higher investment people properties rates trying
I think people who were trying to get into investment properties and trying to flip them won't see those financial advantages with the short-term rates being higher than the long-term rates.
busiest dozen half monday morning
Monday morning is usually my busiest time. I've had only a half dozen applications today.
few last weeks
It was quiet, but the last few weeks have been brisk.
inventory market starting transition
We're making a transition from a seller's market to a buyer's market. Inventory is starting to swell.
drill easier fire lining loan paperwork
You're going through a fire drill before closing, lining up inspectors, attorneys, getting paperwork together. It's a lot easier if you already have the loan in place.
cent figures higher meeting next per quarter running
I think they're probably going to do one more at the next meeting for another quarter per cent because they think that inflationary figures are still running a little higher than they would like.
asking banks comparable fifth fourth three
Before banks wanted to see three comparable sales. Now lenders are asking for a fourth and a fifth comparable.
car consumer fallout higher lines loans rates second seen
The fallout of higher short-term rates will be seen in second mortgages, lines of credit, car loans and consumer loans.
bubble estate far gradual indicate percent prices seeing
I'm seeing some gradual softening of about 5 percent in real estate prices so far this year, but nothing precipitous that would indicate a bubble exists.
accepting ahead higher letters limits loan loans sending start
A lot of lenders are sending out letters stating that they are going to start accepting loans at higher loan limits well ahead of the Fannie Mae announcement.