Nice move by the mortgage bonds this last few days

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Mortgage and Lending with Chicago Financial Services (Mortgage Banker)

Bad news for the stock market has been good news for interest rates. Nice technical move yesterday and then a wild ride today. Looks like the stragglers will get one more chance to take advantage of the refi boom.

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Rainmaker
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Dan Tabit
Northstone Real Estate Inc. - Sammamish, WA

Hi Jeff, Rates are outstanding. Have you seen the rates for ARM's?  They are not for everyone but for the right situation they are incredible.

Feb 05, 2010 04:18 PM #1
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Jeff Frank
Chicago Financial Services (Mortgage Banker) - Chicago, IL

Hey Dan,

Yes, those 5 and 7 year ARMs have been doing very well. I though one client was set for life with the 4.75% 30 year fixed I got for them last Summer. Then they told me they are most likely moving in 2-3 years and I got them into a 3.875% 5 year ARM.

Feb 05, 2010 04:24 PM #2
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Jeff Frank

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