What’s Hot in Real Estate – The Rental Market

Investors who purchase apartment houses see better deals now than in the last four years. In contrast to housing, where prices are low, inventory high, loans are difficult to get, and 40% of the market is foreclosures or short sales, the rental market (especially apartments) have rents growing, … [Read more...]

The Difference between pre-approval and pre-qualification

For many new homebuyers, the terms pre-qualification and pre-approval seem interchangeable. But they are not — and the distinction is an important one. When you get pre-qualified, I perform a quick check to determine generally how large a home loan you can afford. Essentially, when a buyer is … [Read more...]

Indonesia, Haiti, New Zealand, now Japan… Are you ready for the Big One?

We have had several major Earthquakes around the world the past three years, and the USGS has predicted an 80% chance of a 6.0 or larger earthquake will hit northern California within the next 30 years, or for most of us, sometime in our lifetime. There is a 60% chance of that Earthquake happening … [Read more...]

Cost of Living Reaches An All-Time High, Pressures Mortgage Rates Higher

Mortgage rates are up 0.875% since mid-November, causing home buyer purchasing power to fall more than 10 percent since. Persistent concerns over inflation are a major reason why and this week’s Consumer Price Index did little to quell fears. CPI rose for the third straight month last … [Read more...]

Home Supplies Plummet, Home Sales Surge Putting Pressure On Prices To Rise

Image: Damian Brandon / FreeDigitalPhotos.net Existing Home Sales surged 12 percent last month, closing 2010’s housing market with strength. An “existing home” is a home that cannot be categorized as new construction; a resale. According to the National Association of REALTORS®, … [Read more...]

WEEKLY HOT RATES for the week ending 11/9/2010 as provided by Guarantee Mortgage

WEEKLY HOT RATES for the week ending 11/9/2010 as provided by Guarantee Mortgage Wow!  How low will rates go this year? This will certainly help buyers get into our pricey S.F. real estate market. 30 Yr Fixed Conforming to $417K     4.000% "1.000" POINTS     APR = 4.128% 30 Yr … [Read more...]

10% down and not FHA!

Property type: Three-bedroom, two bath in Half Moon Bay Appraised value: $585,000 Loan amount: $508,000 Loan type: 30yr fixed Rate: 5% Back story: For a long time in this economy the only way to do a 10% down mortgage was through FHA. This loan makes the blog because it was the … [Read more...]

Better Credit Scores Get Better Mortgage Rates

This week marks the start of the Refi Boom’s 7th month ; rates have been falling since early-April 2010. Whether you’re looking to refinance or buy a home, however, know that not everyone will qualify for today’s low rates. Mortgage approvals are primarily based on good income, good equity … [Read more...]

Time To Refinance? Mortgage Rates Down 1.00 Percent Since April

30-year fixed mortgage rates rose last week, marking the first time in a month that rates failed to fall week-to-week. The data sources from Freddie Mac, one of the government’s major mortgage securitizers and a sister entity to Fannie Mae. Each week, Freddie Mac collects mortgage rate data … [Read more...]

Home Affordability Gets A Boost From Weak Back-to-School Retail Receipts

The recent rise in mortgage rates was slowed this week after the government released its Retail Sales report for August. Prior to Tuesday, mortgage rates had been spiking on the resurgent hope for U.S. economic recovery. The sentiment shift was rooted in reports including the Pending Home Sales … [Read more...]

Bank Mortgage Lending Policies Appear To be Easing

The tightening in mortgage-lending policies that characterized the last 3 years appears to be slowing. According to the Federal Reserve’s quarterly survey of senior bank loan officers, roughly 1 in 10 lenders added mortgage qualification hurdles between April and June. It’s a huge departure … [Read more...]

A Lender’s Perspective: How does the Homeowners Insurance Agent fit in during a Home Purchase?

In the case of a home purchase, the mortgage lender cannot do his job unless homeowners insurance is provided. And a good insurance agent is very important to make sure the client has the correct and adequate insurance coverage. How is the right coverage amount determined and how does the mortgage … [Read more...]

What’s Ahead For Mortgage Rates This Week : August 23, 2010

Mortgage markets stalled last week in back-and-forth trading as Wall Street grappled with weak housing data, falling builder confidence, and worsening jobs numbers nationwide. Because markets were volatile, rate shopping was challenging. Conforming mortgage rates did managed to make a new … [Read more...]

Mortgage Rates Make New Lows For The 9th Week In A Row

Another week, another new low for conforming mortgage rates.  In fact, this week marks the 9th time in a row it’s happened. Mortgage rates are (again) at their lowest levels in history. The data comes from the Freddie Mac, a government group and major loan securitizer for the U.S. … [Read more...]

Nervous About Mortgage Rates Rising? Lock Thursday — Ahead Of Friday’s Jobs Report

Mortgage rates have been falling since April but that momentum could reverse tomorrow. The Bureau of Labor Statistics releases the July jobs report at 8:30 A.M. ET Friday. With a stronger-than-expected reading, mortgage rates should rise, harming home affordability. Jobs are a keystone in … [Read more...]