Rates were hit pretty hard again this week, with a two and half week bomb. But luckily, we are starting to see some stabilizing from yesterday’s rally and again today. We will see what next week holds. Hopefully, positive movement in the market.
In the world of TRID, I had another discussion with one of the trainers and here was one of the keys – as long as the loan application (1003 & Property) is submitted prior to Aug 1st, it will not be subject to the new TRID forms and disclosures. I know you all know this, but a good reiteration. So, needless to say, many realtors are pushing to get those pre-approved borrowers finding a home ASAP. Now, we just need more inventory!!! Good luck to all of you out there!