Refi’d my house to a 3% rate. I asked my bank friend if rates might drop further since fed rates went to 0. She said no! The opposite! They’re going up? why? Well..
-
Show this thread
-
Even tho the banks can take loans at ~0% from fed, they are tightening up. There’s lots of uncertainty and they want liquidity. They are publicly traded too, and “jumbo loans” come off their own balance sheet. So they are stopping jumbo loans altogether for the time being
1 reply 0 retweets 20 likesShow this thread -
Was initially counter intuitive to me, but makes sense now! The name of the game is liquidity and reducing risk right now, so they are reeling in risk/lending and raising mortgage rates
6 replies 1 retweet 25 likesShow this thread
Replying to @ShaanVP
Also just supply and demand? Everyone rushing to refi puts upward pressure on rates?
10:44 AM - 4 Apr 2020
0 replies
0 retweets
0 likes
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.