Really Now?

I was on a conference call concerning the changes which are due to take place on April 1, thanks to “Our” Federal Reserve Board. Many of us who are originators have issues being restricted on what is the maximum compensation we are entitled to receive, regardless of how much value or service we provide. There is something so un-American, even unconstitutional about it. However, the same rules do not limit the amount of what the investors like Wells, BOA, Chase, Citi and the lot are allowed to earn.

Having said this, be aware that interest rates will probably start moving up by an .25 to .5% within the next week to the middle of April. I have no idea whether this will be temporary or not. My thought is that if you are thinking about refinancing, then move quickly. If you have an interest in purchasing then move as quickly as possible.

The real impact to you could be what you can afford and whether it will be worth your while to move forward on refinancing. Once again our government has seen to negatively impacting the competitve balance by reducing rather than fostering competition.

How counter intuitive is this?