A lot of lenders are sending out letters stating that they are going to start accepting loans at higher loan limits well ahead of the Fannie Mae announcement.

Before banks wanted to see three comparable sales. Now lenders are asking for a fourth and a fifth comparable.

I'm seeing some gradual softening of about 5 percent in real estate prices so far this year, but nothing precipitous that would indicate a bubble exists.

The fallout of higher short-term rates will be seen in second mortgages, lines of credit, car loans and consumer loans.

It was quiet, but the last few weeks have been brisk.

You're going through a fire drill before closing, lining up inspectors, attorneys, getting paperwork together. It's a lot easier if you already have the loan in place.

I think people who were trying to get into investment properties and trying to flip them won't see those financial advantages with the short-term rates being higher than the long-term rates.

I think they're probably going to do one more at the next meeting for another quarter per cent because they think that inflationary figures are still running a little higher than they would like.

Monday morning is usually my busiest time. I've had only a half dozen applications today.

What I do for people is I look at the weighted average of what their mortgage rate is.