New Conventional mortgage changes for April 1, 2011. In most cases, conventional loans will become more expensive. Pricing adjustments will be in the form of points and not to the rate.
The interest rates could actually change if pricing hits are incorporated into the interest rates. It just depends on if you pay the extra costs upfront or take a higher interest rate.
These new pricing changes have to do with the borrower’s credit scores and the percentage of the down payment.
The new pricing hits will be any where from 25 bps to 50 bps. The interest rate could increase any where from 1/8 to 1/4 percent.
What does this mean for you? If you're even slightly considering buying a home, the time is now.
The interest rates could actually change if pricing hits are incorporated into the interest rates. It just depends on if you pay the extra costs upfront or take a higher interest rate.
These new pricing changes have to do with the borrower’s credit scores and the percentage of the down payment.
The new pricing hits will be any where from 25 bps to 50 bps. The interest rate could increase any where from 1/8 to 1/4 percent.
What does this mean for you? If you're even slightly considering buying a home, the time is now.
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