This week’s Interest Rate (18th Week) (Fairway Asset Corp.) 30 Y Rate: 3.375%/ 15 Year Rate:2.99%/ 10 Y Treasury: 0.549%/ FHA:3.490% Prime Rate:3.0% / Ref IR: 0.00- 0.25% Conventional rates are getting better, but Government loans(FHA,VA, USDA) still have difficulties. Investigation started on Unfair PPP Approval (The Korea Times 4/28, 4/29) The Democrats initiated SBA to begin...
by stephenlee This week’s Interest Rate (17th Week) (Fairway Asset Corp.) 30 Y Rate: 3.490%/ 15 Year Rate:3.250%/ 10 Y Treasury: 0.549%/ FHA:3.490% Prime Rate:3.0% / Ref IR: 0.00- 0.25% Conventional rates went up a little bit and Government loans(FHA,VA, USDA) still have difficulties. Jumbo loan have difficulties New Jersey Schools will be closed till 5/15/2020 (The Korea Times 4/17) New...
by stephenlee This week’s Interest Rate (16th Week) (Fairway Asset Corp.) 30 Y Rate: 3.490%/ 15 Year Rate:2.875%/ 10 Y Treasury: 0.879%/ FHA:3.490% Prime Rate:3.0% / Ref IR: 0.00- 0.25% Conventional rates are getting better, but Government loans(FHA,VA, USDA) still have difficulties. NY State might hit the Apex of COVID-19 death toll ( The Korea Times 4/14) As of 4/13, dealth toll is 10,056 in...
by stephenlee This week’s Interest Rate (15th Week) (Fairway Asset Corp.) 30 Y Rate: 3.490%/ 15 Year Rate:2.99%/ 10 Y Treasury: 0.687%/ FHA:3.490% Prime Rate:3.0% / Ref IR: 0.00- 0.25% The U/W guidelines getting tighten during the COVID-19. Some of lenders cap the DTI lower than normal time and require 3 month reserves. ( See below) Jersey City councilman, Michael Yun died of the complication due to...
by stephenlee This week’s Interest Rate (14th Week) (Fairway Asset) 30 Y Rate: 3.625%/ 15 Year Rate:3.125%/ 10 Y Treasury: 0.687%/ FHA:3.490% Prime Rate:3.0% / Ref IR: 0.00- 0.25% WeWork kept most of it locations open:Only two offices are closed in N. America (The NYT 3/25) In the fight against the spreading COVID-19 countless businesses, restaurants and bars have temporarily shuttered to...
by stephenlee