gwinner

30-Year FRM Rates: Who Says Lower Rates Won't Do Much Good?

My mother submitted to refi with Wells Fargo yesterday. I was impressed to see that she will get a better rate with a 60/40 loan than a 80/20, that's the way risk mitigation should be rewarded by lenders. She was told that Wells Fargo has prioritized new loans over refi's and it has so much loan volume that refi's are taking 45 to 60 days.

I agree with Deflation Rocks, I believe your analysis is correct and your patience will pay off provided interest rates don't go too high and you have enough cash (that's going to be a timing play). Most buyers in San Diego do not appreciate the risks of buying now and the low mortgage rates and current level of deflation are enticing them to act.