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27 February 2010
Economic Activity for the week
This morning's GDP revision for the 4th quarter came in a little higher or stronger than last month's previous estimate of 5.7%. Today's release showed a 5.9% rate of growth, meaning economic activity was stronger than many had thought . This Read More...
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23 February 2010
FHA to Provide Early Relief to Struggling Homeowners
Homeowners with FHA-insured mortgage loans who are experiencing financial hardship are now eligible for loss mitigation assistance before they fall behind on their mortgage payments. Previously, these homeowners were not eligible for such assistance until Read More...
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23 February 2010
Jumping into the Housing Market?..consider this:
If you have a good job and good credit, the next few months might be a good time to go house hunting. Fence-sitters take the risk that Congress may let a rich tax credit expire, and that interest rates may rise. Buyers and sellers should consider the Read More...
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12 September 2009
Ten Year Note at 3.28%...WoW!!
Ten-year-note yields dropped 2 basis points, or 0.02%, to 3.33%. They earlier touched 3.28%, the lowest since May 20. Yields move inversely to bond prices and mortgage rates. Benchmark 10-year notes are on track to score a fifth weekly gain after the Read More...
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31 July 2009
Lender Questions-My Interview with Dean Wong at First Capital Mortgage
It is with great pleasure to post my Interview with one of my favorite Lenders Dean Wong at First Capital Mortgage. (His contact is at the end of my post). Tom: Hello Dean. How are you doing? Dean: Great Tom Tom: 1).I have heard that there are some changes Read More...
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15 June 2009
Rates move higher in past 2 weeks after their bottom in May
As I mentioned before, added supply has been one of the main culprits behind the recent sell-off in Bonds and corresponding climb in home loan rates . So where is that supply coming from? First, all those refinances you've heard about lately are actually Read More...
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08 January 2009
Rates Fall to Record Low of 5.01%
The 30-year fixed-rate mortgage (FRM) averaged 5.01 percent with an average 0.6 point for the week ending Jan. 8, 2009, down from last week when it averaged 5.10 percent, according to Freddie Mac’s latest results of its Primary Mortgage Market Survey Read More...
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15 December 2008
Is Your Property Tax Bill Too High?
Income tax, sales tax, estate tax, excise tax, alternative minimum tax...and just when you thought you'd paid them all...along comes your property tax bill as a homeowner. But did you know that the National Taxpayers Union estimates that as many as Read More...
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15 December 2008
Fed to Cut the Fed Funds Rate
This week, look for the Fed to cut the Fed Funds rate (the rate for overnight loans between banks) by a half point, to 0.50 percent. While a cut by the Fed often causes home loan rates to rise (because a Fed cut can lead to inflation, which is the arch Read More...
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06 October 2008
Bail out--TO PASS OR NOT TO PASS?
That was indeed the question of the week...and the final answer came on Friday, as the House of Representatives followed the Senate's lead and passed the $700 Billion rescue plan. The week began with the House initially voting against the plan on Read More...
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27 September 2008
Todays Rates
Today's Suggested Purchase Contract Rates for a 30 Year Fixed Rate Mortgage $417,000, Down Payment 3%, Interest Rate 6.250%, Points 1 $417,000, Down Payment 10%, Interest Rate 5.875%, Points 1 $417,000, Down Payment 20%, Interest Rate 5.875%, Points Read More...
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26 September 2008
Lender Interview w/Dean Wong-Part II
My Lender Dean Wong and I sat down for Part II of our Interview on Finance 101: Thomas Ray : How are interest rates figured and how do I compare lender rates? Dean Wong :Rates are determined by the overall economy and supply and demand of money. Best Read More...
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24 September 2008
FHA loans let you stay liquid...
"A" Paper Borrowers are learning the benefit of going with an FHA loan. The down payment requirement is only 3.5% (as of Oct. 1, 2008) and the Maximum loan for a Single Family Home in Los Angeles, CA is $729,500. This amount allows a good choice Read More...
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22 September 2008
Determined Actions by the Feds
"THE PATH TO SUCCESS IS TO TAKE MASSIVE, DETERMINED ACTION." Anthony Robbins. And success in stabilizing the markets and the economy is exactly what the government is hoping will happen as a result of the massive, determined actions they took Read More...
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04 August 2008
The Housing and Economic Recovery Act
This week, President Bush signed the "Housing and Economic Recovery Act of 2008" into law. This $300 Billion rescue plan is aimed at helping struggling homeowners avoid foreclosure, as well as boost confidence in the housing market. Although Read More...
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