If you happen to be looking to buy a new home and are in an area where Lennar Corp, the nations’s biggest builder by revenue, is is putting up new homes, you have a great opportunity. Right now they are offering a mortgage with a fixed rate of 3.625% “for life,” which they say is its lowest ever. According to the terms listed on its Web site, the special is limited to “on select homes”, closing have to occur by April 30th , and theloan amount can not be over $417, 000. Also, the minimum credit score is 700. Nevertheless, just like headlines everywhere are going on about how 4.5% mortgage rates influence likely borrower expectations, so might this…

In today’s mortgage market, lenders are seeing significant volume of loans coming in the door, not a lot of them “pull through” all the way to the closing table. There are a lot of reasons why this is happening, some examples being home appraisals coming in a lower values than expected, peoples’ income and /or assets not being high enough or any number of additional underwriting guidelines are being used in today’s market. Due to this lower than anticipated pull-through, investors (the entities who ultimately purchase the loan from the mortgage company with whom you did your loan) are starting to get frustrated as complete, high quality loan deliveries are down significantly. In an effort to remedy this, and minimize the number of ’window shoppers’, a lot of mortgage lenders are now implementing things such as a fee to lock your rate, or they will only lock your rate and secure you an interest rate after they receive the appraisal or even waiting until after the deal is fully approved before locking.

There should be absolutely no reason for anyone to be too worried though, because these super low rates look like they will be here for quite some time and whether your final rate is a tiny fraction of a percentage lower or higher, you’ll still be getting among the best rates in history.

With mortgage rates at these encredible lows, and with all expectations being that they will remain here for a while, experts are predicting loan origination volume in 2009 to be in the neighborhood $3 trillion. With that much volume, a lot of lenders are more focused on their current book of clients than they are trying to get new clients in the door.

Whether you are in the market for a Dallas refinance, thinking about purchasing a home, or are just curious about Dallas mortgage rates, you can find more good info at http://dallashomemortgageassistance.com

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