Archive for the 'Consumer Information' Category
What’s Ahead For Mortgage Rates This Week : December 21, 2009
Mortgage markets improved last week as pricing followed a roller coaster-like pattern. After touching a 6-week high Tuesday, rates rallied to weekly lows Thursday, and then jumped back higher Friday.
Despite the improvement last week overall, mortgage pricing remains significantly worse from the all-time lows set in late-November.
Oddly, last week’s most prominent mortgage-related story wasn’t the [...]
Housing Starts Jump; Home Sellers Lament.
Housing Starts jumped last month as builders got back to business. It’s a telling sign for the economy, but bad news for next season’s sellers.
With more homes coming online, home prices may be slow to rise nationwide.
A “Housing Start” is a privately-owned home on which construction has started. In November, starts rose by nearly 9 [...]
Falling Unemployment Rate Leads To Higher Mortgage Rates Today
This morning’s jobs report is causing mortgage rates to rise, capping a week during which rates have already jumped 3/8 percent off all-time lows.
The government’s November Non-Farm Payrolls report reinforced the notion that the recession is nearly over, if not over already.
Just 11,000 jobs were lost last month — much fewer than analysts had expected — as the [...]
What’s Ahead For Mortgage Rates This Week : November 30, 2009
Mortgage markets improved last week on stronger-than-expected economic data and safe haven buying.
The holiday-shortened trading week amplified what should have been modest gains into large ones.
Conforming mortgage rates dropped by about a quarter-percent last week, dropping them near their best levels of the year — and of all-time.
Oddly, mortgage rates are falling as the [...]
Congress Expands And Extends The First-Time Home Buyer Tax Credit
Congress both extended and expanded the First-Time Home Buyer Tax Credit program Thursday.
The White House says the President will sign it into law today.
The up-to-$8000 tax credit’s expiration date has been pushed forward to spring, requiring homebuyers to be under contract by April 30, 2010, and to be closed by June 30, 2010.
The program’s basic eligibility [...]
What’s Ahead For Mortgage Rates This Week : November 23, 2009
Mortgage markets worsened last week on a mixed bag of economic data. Inflation data came in soft, but so did the start of the holiday shopping season.
For the first time in a month, mortgage rates worsened last week, adding roughly 0.125 percent on conforming fixed-rate products, and a little bit more on ARMs.
Despite rates worsening, there [...]
Why is the APR (annual percentage rate) of my 3, 5 or 7 yr ARM (adjustable rate mortgage) less than the start rate?
Good question. The concept of APR is a bit difficult for many to swallow. It’s in the Truth in Lending disclosure giving to borrowers of mortgage loans as well as many other types of debt.
Super simple terms: The rate that a borrower would receive from a lender if the lender charged you 0 [...]
Nice “Thank you” from our clients – George and Andrea Aguilar!
Thank You Document
We received a nice thank you photo from these California First Time Home Buyers – our Chris Garza worked with them on this. Makes our Day!
george-aguilar.docx
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What The Media Missed In September’s New Home Sales Report
Some days, newspaper headlines are a terrible place to get your real estate news.
Today is one of those days.
After the September New Home Sales report showed sales volume down from August, the mainstream media jumped on the story:
New Home Sales fall a surprising 3.6%
Surprise Drop In New Home Sales
Stocks slide as New Home Sales fall
But the headlines miss [...]
What’s Ahead For Mortgage Rates This Week : October 26, 2009
Mortgage markets were volatile last week, making it very difficult to shop for mortgage rates.
On most days, lenders issued multiple rate sheets with the trend putting rates higher in the morning, and lower in the afternoon.
Overall, mortgage rates were unchanged on the week. It broke a three-week streak through which mortgage rates rose.
Rates [...]
