I've worked in the financial industry for 14 years and have been a lender for the past 10 and have never seen a rate jump from current posted rates at approx 6.85% for a 5 yr fixed term up to 9% - also these are posted rates, negotiated rates are much lower then what the posted rates actually are. FYI for every 10 articles you read that claim rates are going up, you'll find another 10 claiming the rates to go down.
Truely is unfornunate whats happening in the states and with Merrill Lynch I think a few more banks and firms will probably go under as well when all of the dust sets.
If anyone has any questions regarding their mtg or anything along those lines I would be more then happy if you want to shoot me a PM and I will respond.
|