As we round up the fiscal year 2012 and move into 2013, the next 12 months is showing compelling reasons why would-be home buyers are going to be buying more homes. In the beginning of 2012, the consensus was the real estate market was low, even flat in some parts. In summer 2012, purchase business [...]
If you are in the market for a mortgage refinance or home purchase, plan to pay more if you are borrowing more than the conforming loan limit. The national conforming loan limit for the best mortgage rates is $417,000 extending through December 31, 2013. If your loan is up to $417,000 or lower, generally you’ll [...]
I have been speaking to a number of Loan Officers and Mortgage brokers and the consensus is that we are past the bottom in interest rates, most predictions are for a 1% to 1.5% rise in rates over the next 6 months and a continuing uptick to about 5% by 2015. To my mind this [...]
Jonathan Miller contends that today’s insanely-low mortgage rates aren’t doing any more good for the housing market. I matched year-to-date sales volume where a mortgage was used and mortgage rates broken out by conforming and jumbo mortgage volume. Mortgage volume has been falling (off an artificial high I might add) since 2005, while rates have [...]
Looking for a mortgage loan in Sonoma County, California? Whether buying a home or refinancing a mortgage, your lender will require you to lock your interest rate on the amount being borrowed. How long you lock your interest rate for is how long you have to close escrow. This is where consumers can oftentimes find [...]
A recent story in the Wall Street Journal “Paying Less for a Mortgage. How to Sidestep Rising Rates on 30-Year Fixed-Rate Loans” caught my attention right away. I always thought paying more in interest was worth the safety of a lower monthly mortgage. Now I’m not so sure. With a 15-year fixed rate bottoming out, [...]
Larry Roberts of OC Housing News (or “irvinerenter” from various housing forums) is a friend and has been one of the beacons of honesty and truth throughout the housing collapse. He’s been a bear at the right times and an investor at the right times. Now, he argues that, because the “supply” in supply and [...]
