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David Nierengarten
David Nierengarten

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"We're not going to see 4% for one simple reason: It's not profitable. Nothing else matters. We're subsidizing the banks to make loans, part of that is going to the differential yield spread (banks borrow at 0.25%, or whatever, and lend at 5.25%) so they can make a profit and cover up all the bad loans made from 2004-2008. Like I posted earlier, the bank could just buy treasurys (in theory) and make more money than buying mortgages yielding 4.5%, considering defaults etc, with less risk..."    View Comment
"Should have locked everyone down under 5%. oh well. at least i got my loan refi'd at 4 7/8 with no points."    View Comment
"why I locked at 4 7/8. of course wells still hasn't sent back official word on funding with 2 weeks left in the lock. as i posted before, it's silly to hold on with rates at 50 year lows to try to scrape another 1/8 point or whatever off the loan. upside is maybe $30/month in payment, downside as we're seeing is $90/month (seeing 5 1/4 now). Should have locked and loaded everyone at 5% and under. period."    View Comment
"1/8 to 1/4 reprices for the worse across the board."    View Comment
"Doesn't matter as they're not giving out loans. 50% no qualify."    View Comment
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