Real Estate Blog LA

Record Rates: Rate on 30-year mortgage drops to record 3.89 pct.--Average rate on 30-year fixed loan dips to 3.89 pct., 15-year drops to 3.16 pct. >Mortgage rates are lower because they track the yield on the 10-year Treasury note, which fell below 2 percent. They could fall even lower this year if the Fed launches another round of bond ...

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 ...

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 ...

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 government's sale of $70 billion in notes and bonds attracted strong demand from investors. In ...

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 turned into Mortgage Backed Securities after they're closed, which adds more Bonds to ...

(Remember, inflation is the archenemy of Bonds and home loan rates, so I will be keeping a close eye on this in the coming months.) The Department of Housing and Urban Development's Federal Housing Administration making a very interesting announcement that ultimately appeared to be slightly premature. They announced a new plan to allow ...

Notices of Default, the first step in the foreclosure process, reached a record level – nearly 26 percent higher than the previous historic peak in April 2008. Notices of Trustee sale, which set the auction date and time, rose 82.3 percent from the prior month, though not yet reaching the prior record level set in July 2008. While ...

Auction investment opportunities continue to increase. January brought an unexpected, across the board drop, in the total Notices of Default, Notices of Trustee Sale, and sales at auction, not only from the prior month, but year over year as well. Even after accounting for the fact that January had two fewer days than December, only properties ...

House prices in much of the U.S. will bottom out in this year's fourth quarter, Moody's Economy.com says in a new report. The report projects that peak-to-trough declines for metro areas will be 53% in Los Angeles. In some of the hardest hit markets, however, prices won't reach a bottom until 2010 or 2011, the research firm says in a ...

Quick Take on the Economy: January 9, 2009By Lawrence Yun, NAR Chief Economist Employment SituationDecember 2008:Payroll jobs were cut by 524,000 and the unemployment rate rose to 7.2 percent. From the cyclical peak employment 12-months ago, a net 2.6 million payroll jobs have been lost. The economic momentum and the fall in average work ...