• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

CNBC video- BOMBARDED with Refis.

Status
Not open for further replies.

Jill Kinnaird

Junior Member
Joined
Oct 6, 2005
Professional Status
Certified General Appraiser
State
Ohio
I believe Mr Brinkman is correct when he states most people are trying to lock in a lower rate. Only those who haven't been greedy over the past few years with first, second and third mortgages based on overinflated 'values' will make it to the closing tables. Then again, AVM's and skippy's are still alive and well despite the risks.
 

Tom Woolford

Elite Member
Gold Supporting Member
Joined
Nov 20, 2005
Professional Status
Certified Residential Appraiser
State
Florida
Another side though is that only an estimated 2 out of 10 will actually close because of tightened credit standards. If you don't have full docs and a score of at least 720, the loan will never close. (The way it USED to be!).
 

Lawrence R.

Senior Member
Joined
Mar 27, 2007
Professional Status
Certified General Appraiser
State
South Carolina
If I am already 60 days late on a mortgage, what good will it do me? How will this solve the current problem?

Or will it just pump enough money in to the system to offset the losses?
 

Lance Huggett

Freshman Member
Joined
Aug 22, 2006
Professional Status
Certified General Appraiser
State
Florida
I had a conversation with my banker today. They anticipate a 15 year fixed at 4.25 - 4.5% and a 30 fixed of 4.75 - 5%. Obviously based on credit score and adequate LTV.
This is a nice bone for people who did not get tempted by the events of the past few years.
Hopefully more business for appraisers as well.
Good luck to all!!!

Lance Huggett
 

Frederick

Senior Member
Joined
Nov 2, 2005
Professional Status
Certified General Appraiser
State
New Jersey
Which translates into...""But I need zzz to make this work...

I got a feeling they aren't going to rely on one appraisal this time.

I am getting field reviews from places I haven't got them from in the past.
 

Tony V

Elite Member
Joined
Mar 29, 2005
Professional Status
Certified Residential Appraiser
State
New York
I got a feeling they aren't going to rely on one appraisal this time.

I am getting field reviews from places I haven't got them from in the past.

I hope you are correct....
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Arvest posted 15 yr fixed at 4.5%. The banker is swamped with applications. The trick is that they cannot 'fix' the rate until its approved and it has went from 4.86% yesterday...who knows what it will be tomorrow.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks