The Veridian Blog

Has it been that long?  Anyhow, when this blog isn't alive, it only means one thing - RATES ARE DOWN!  In a big way...

In particular, rates on the 5/1, 7/1 for both conforming and high-balance conforming have seen spectacular drops during the past month.  Rates are hitting the low 4.0% range and have even gone below 4.0% for the 5/1 conforming. 

In addition, traditional JUMBO loan rates have fallen back into the realm of reason.  Although still not at historical lows, the 5/1 Jumbo recently touched just below 5.0% - a far cry from the 8.0% days we saw as little as one year ago. 

What this all means is that credit is loosening up in the secondary markets.  Investors have waited on the sidelines for a few years and after realizing that there are some good bargains out there and still some responsible homeowners who still care about their credit, they have decided to jump back into the mortgage market.

Again, sorry for the blog-disappearance... we will stay in touch.  Call us for the latest and greatest - thanks!