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AgentGrn
Joined: 28 Sep 2006
Posts: 82
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 Posted: Wed Sep 17, 2008 1:06 am GMT Post subject: An oddity, or the new norm? |
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My wife observed something interesting today which I thought was worth sharing with the group.
The local bank that we are working on our mortgage with in the last two days has stopped originating its own 30-year fixed mortgages, and is now originating anything longer than a 15-year term on the secondary market.
This was initially a shock to me since this bank has traditionally held its loans on its own books which is why we chose them to begin with. Thankfully, our mortgage is in-process, so it will be locally held for the time being ... but it wasn't a move I was expecting to see. |
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john p
Joined: 10 Mar 2006
Posts: 1820
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| Posted: Wed Sep 17, 2008 2:16 pm GMT Post subject: |
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| I'll ask around, that is odd huh? |
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