They are still historically low,

but I digress to the expertise of Mr. Jason E. Gordon 

Commercial is not moving ... no pun intended. 

Residential is somewhat business as usual - I am working with a client right now pre-approved for $1.5M purchase. 

Just yesterday someone asked me in the middle of a Real Estate discussion this question: Will we ever see 7% interest days again? A: not in my lifetime

Mortgage rates have stabilized and are extremely low in general. That said, there are "overlays' and "pricing adjustments" that are definitely in play (which will individudally impact each situation). 

• Overlay - essentially makes the program more difficult to qualify for (i.e. raising minimum credit scores, reducing LTV and/or DTI, etc.)
• Pricing Adjustments - makes the quote worse (i.e. the more adjustments, the worse the quote gets generally)

With the Secondary Market tightening up due to 30M+ unemployment filings over the past 6 months, Lenders are at the mercy of the market for the above referenced changes.

Big winners currently: PURCHASE and RATE/TERM Refinance loans, especially at/below the conforming loan limit ($510,400 loan amount in most local markets in CA). 

Big losers currently: Jumbo, High Balance Conforming, Non-Owner Occupied, Cash-Out Refinances, Bond/Down-Payment Assistance programs, and Non-QM programs.

Happy to elaborate further if/when desired. Feel free to PM me.

Hesitation by second market investors will tighten underwriting for a period of time.

Your guess is as good as mine. Can't do anything about yesterday and don't know what tomorrow will bring. Can only deal with today

It’s a Roller Coaster ride

I got a call from one of my lenders yesterday, offering a 2.6% 15-year jumbo. UNHEARD OF! I can't IMAGINE them going much lower, if any. 

Investors are tightening their purse strings but, so far, I haven't heard of tightening of requirements on the front-end. 

This am I heard 3.23....pretty low.  As for requirements, probably tightening up a bit depending on credit history and downpayment on hand.

Conforming loans at all time lows, and will see another dip.

Requirements tighter- cash out refinance is going to be costly for the next three months, FICO scores went up for products, you must be working, self employed have to show bank deposits that line up with profit and or loss, since self employed was not required to file 2019 until July that's a long stretch of time to use P and L, NonQM a few came back but expensive, Jumbo for the perfect borrower. The Fed is forking money like hay in boom summer crop.

i got nothing