Athen Apaquette

Janet Yellen’s Confirmation and Your Friday Rate Sheet

interest rates for today

The good and the bad news this week: Not much happened at all in the economic news department. Third quarter production was up which is good, but the production cost per unit was down (not good since that means companies have no incentive to hire more people, therefore not helping the economy).

The biggest news was the beginning of confirmation hearing for Janet Yellen to replace Ben Bernanke as Fed Chairman. She has made clear that she will continue the QE until there are signs that the economy is doing better. (Indefinitely?) Though this may help the economy recover, it could also cause one of the biggest market crashes ever if not handled correctly.

Do you have a client on the fence about selling, now is the time given the possibilities in the future. Rates are low and things are stable, that the best time to sell.

Did you know that you do not have to be on title to refinance a property? Think about your clients who want to “gift” a property to their kids, there are ways.

Train Your Brain:
1031 Exchange seminar has been moved to January. This is a must to have in your tool box for more sales and better client advocacy. If you have questions now, give me a call at 310-218-6855.


If you have a client who is close to having an offer accepted and is nervous about rates, don’t worry because interest rates can be locked in over the weekend.

Remember we also have the float down: if rates improve more than .25% after lock-in the client gets the lower rate.

All rates are quoted at a 45 day lock in and assume a 720 credit score with 20% down except for FHA.

1 point is 1% of the loan.

Programs quoted as having 1 point also have the option of 0 points and the option of the 0 cost loan.

Jumbo loans are loans that have a loan amount of $625,501 and above on conventional programs.

Conventional is also known as Fannie Mae and Freddie Mac financing.

If you have any questions or comments, please contact me at athena@athenapaquette.com. or call 310-218-6855.