Brian Ma's Blog (@zealoustiger)

Weekly insights from an Entreprenuer: To spend one year as a tiger is better than to live forever as sheep

I got quotes!… now what?

Being a real estate agent, I’ve been around mortgages and know a little bit about how to work them.  Previously, I blogged about Zillow’s Mortgage Marketplace here.  Well, I have an update.  I recently got some quotes:

So… it works.  Now what?  The monthly rates are substantially higher then what I’m paying now and so is the APR.  Didn’t the FED just cut rates by a ton?  I was expecting much lower.  At least the Zillow Mortgage Marketplace is working – now I just need a lender to step up and gimme something better.  C’mon.

I guess I’ll just wait and see if I get anymore quotes.

3 responses to “I got quotes!… now what?

  1. tigerblog2 May 13, 2008 at 8:33 pm

    Great insights. Thanks to you both.

  2. Mike Sweeney April 25, 2008 at 5:40 pm

    That’s true with the short term rates. Often the media will incorrectly report it should drop 30yr fix rates which adds to the confusion.

    BTW- a book that may help you with your naming challenge on your other post is POP by Sam Horn.

  3. Logan Bowers April 25, 2008 at 1:30 pm

    Federal overnight lending rates often have very little effect on 30 Year rates simply because they fluctuate so wildly over the life of the loan. In fact, a drop in the short term rates can cause long-term ones to rise because of the increased inflation risk.

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