Home > Blogs > California > San Mateo County > Experts predict that ARM loan appplications will pick up in 2011!
7,406 views

John D. Balladares' Blog

By John D. Balladares | Mortgage Broker
or Lender in Burlingame, CA

Experts predict that ARM loan appplications will pick up in 2011!


Well, not that the market has turned, but the amount of chatter out there in the ranks about ARM loans is increasing by the day. A survey done by FHLMC (uh, Freddie) of over 100 lenders showed that conventional conforming ARMs are starting to attract applicants again, and that their market share may go from 3% in 2009 to almost 10% in 2011. Gone, for the most part, are two-year adjustables, option ARM's, "pick-a-pay" ARMs, etc., and they've been replaced with the 3-1, 5-1, and 7-1. These hybrids have better rates than the 30-yr product, in some cases 1-1.5% better. Lender,better dust off those manuals that define terms like margin, index, and so forth!

Comments

By Gilbert Richards,  Sat Feb 5 2011, 00:35
They are picking up in this market. Especially with clients buying now in a declining market

POST
 
Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer