Interest Rates at their lowest. (credit, requirements, refinancing, purchasing)

[Fidel Castr0]

Are people refinancing at the moment? I know interest rates are very low at the moment. Im looking to start a mortgage company, i have a lot of experience and want to start my own company. I haven't been in the business in about 3 years and just wanted some feed back from you people :-)!
Thanks!

[NJGOAT]

I'm not in the business, but I think you missed the boat on the low interest rates. The Fed's are starting their pull out from purchasing mortgage securities on April 1st and interest rates are expected to rise considerably. Add the expiration of the tax credit on April 30th and ever increasing credit standards, I just don't see it as a good time to open a mortgage brokerage.

[VictorBurek]

With all the new regulations, you might find it extremely difficult to start a mortgage company. Additionally, things are greatly different from how things were three years ago. You will have a lot of new things to learn like the new GFE, TILA requirements, HVCC, etc...

I wish you luck if you decide to start your new venture.