Real Estate Blog LA

The borrowing costs required for average mortgage rates rose today, in some cases high enough to nudge the actual interest rate an eighth of a point higher. This is the first time in over a week that we've seen recent rates threatened. Good economic data or news headlines will cause market volatility sufficient to send rates higher.  ...

Freddie Mac recently released the results of its Mortgage Market Survey, which showed weaker than expected job growth in May 2011 pushing both fixed and adjustable-rate mortgages to new lows for the year. The 30-year fixed averaged 4.49% and the 15-year averaged 3.68%, its lowest since November, 2010. News Facts • 30-year fixed-rate mortgage ...

Third party investors resold the homes they previously purchased at auction at a faster pace throughout our coverage area. As the most sophisticated and motivated homesellers in the marketplace, these investors provide an important indicator as to the health of the entire housing market. While the statistic is encouraging, it's too early to ...

Reductions to High Balance Loan Limits Effective October 1st 2011   Maximum allowable loan limits (also know as High Balance Loan Limits) will be reduced as illustrated on the chart below. These limits are also subject to change at any time.   Los Angeles County limits shown below (there are different limits for different ...

Economists participating in a recent NAHB Construction Forecast Conference Webinar agreed that the housing market is on the road to recovery, but cautioned that several factors could contribute to a bumpy ride in the coming months. “Home buyer tax credits clearly did their job and got people back into the marketplace,” said NAHB Chief ...

California has initiated its own homebuyer tax credit. The bill — AB183 — was signed last week by Governor Schwarzenegger. The credit is for 5% of the purchase price, with a maximum credit of $10,000. That’s a dollar-for-dollar reduction against income tax payments that would otherwise be due. Homebuyers must claim the tax credit ...

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 after they had missed payments. The Helping Families Save Their Home Act of 2009 signed into ...

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 following factors as they consider jumping into the housing market. -Mortgage rates are ...

This is the best residence in the WestSide's best-selling community - this is progressively coastal living. Residence #421, priced at $749,900, features a wrap-around deck, outdoor and indoor fireplaces, upgraded appliances and flooring. Ocean breezes flow through this 2,102 square foot (including the 712 sq.ft. deck), two-bedroom home. Its ...

The Mortgage Bankers Association (MBA) is growing increasingly confident that Congress will continue or expand the $8,000 tax for first time home buyers that is set to expire Nov. 30. "We are pushing for expansion of the tax credit, and we are very close to winning this one," said David Kittle, MBA's outgoing chairman. The tax ...