I know a couple of local banks that have balance sheet issues with commercial deals they closed as rates began creeping up. “Portfolio Loans” is the hot phrase as @CarRhino pointed out.
When I was building, I had a loan officer guarantee in writing (and signed) a max interest rate, and by the time the dust settled, it was 150 bps under market. My mortgage is now a “portfolio loan”.
The bad loans are not marked to market and tabbed HFI or HTM. Same shit with private credit, the phones ring non-stop with PC sales calls right now to offload risk onto retail via advisors.
These low-volume OTC-traded bank stocks can be wildly out of sync with their real value or likelihood of acquisition.
I’m not following. I was referring to the median US home sale price. Which has been going up each year. But next year, I expect it to increase a little more than this year (2% predicted for 2026 vs 1.7% for 2025).
Can someone give me guidance on where to go for an asset qualifier mortgage? I think I would qualify based on assets and putting $300k down on a $600k single family, owner occupied. Would prefer 10 years interest only. Should I get a broker? A bank directly? I’m in the state of Kansas.
Plenty of mortgage brokers have been offering 6% or slightly under at various times since last year. Two friends got 5.75% and 5.875% in Aug/Sep 2025 without points.
Yup, around that time frame I was doing a lot of 20 year loans (I’m a broker), Fannie Mae was hungry for them and rates were at 5.25-5.375%. The delta between a 20 and 30 has now closed again, to where the 30 year at 5.625-5.875 is the better option for most.
I used service CU, from app to close was ~30 days because I qualified for appraisal waiver. They are a small CU and not the fastest, but they have good rates. 5/1 ARM at 5.375. I closed on December 1 and their rates are lower now
4.875% for a 3/1 ARM with Blaze CU out of Minnesota. Their rates are at 4.75% now. $1500 in closing costs, they cover anything else above that (with exception of prepaid interest). They don’t advertise their 3/1 ARMs, so you have to inquire (but it’s 0.25% lower than the advertised 5/1 ARMs)
Back when rates were sub-3%, people kept saying not to buy a home because you can’t change your purchase price and rates can fluctuate. They also said when rates go up, prices go down.
I kept saying that it’s not a proportional relationship and that if you can lock in at a sub-3% rate and find a home you can afford, a future price drop isn’t something you should be worrying about.
Now prices are ~50% higher and rates are double… so the disliked “Now is the time to buy” seemed okay back then. I just don’t know if that can apply now… it really should be “Buy if you can afford and stay for a while”.
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