The recent declines in rates impacted the West Coast most prominently, said Max Slyusarchuk, CEO of A&D Mortgage, a Hollywood, Fla.-based independent mortgage banker that finances non-QM loans through multiple channels.

“We have less runoff than lenders on the West Coast,” he said. He estimates that rates have fallen a little over 20 basis points in the past couple weeks.

Source: National Mortgage News