Conventional 30yr Financing Rates
I have been speaking with a few customers and conventional loan officers lately regarding 30yr financing on investment properties and the rates I am now hearing are north of 5%. They tell me this is due to Fannie Mae changing their portfolio concentration on investment properties and they are trying to push people away. Is anyone else seeing this?
All of my properties are on 20yr amortizations with local banks so hasn't affected my underwriting personally, but as a commercial lender I am getting a lot more phone calls as well, which makes me curious.