Dorian Sarris of Americorp Funding delivers this update on the mortgage front:

The Fed lowered the rates by .25 point yet again, which is not terribly exciting to buyers seeking a new loan or owners wishing to refi. While any kind of rate cut is a good thing, it rarely has an immediate impact on mortgage rates.

Some good news is that lenders are loosening their requirements a bit and that 90% loans with decent rates are available from some lenders. We have a great lender now who can do 80% limited doc on interest only for 5 years to well over $1,000,000. So call us for specifics. I hope you are having fun out there, and we look forward to helping you and your clients, as always.

Dorian can be reached at 415-544-2609.

This entry was posted on Sunday, May 4th, 2008 at 5:30 pm and is filed under Mortgage Meltdown. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

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