As I conveyed in a previous blog in June, the FHFA was being pushed by mortgage trade groups to eliminate an "Adverse Market Fee" on .5 point on conforming refinances. This was a hidden tax on the consumer that increased the cost of a refinance $2500 in additional costs to a $500,000 loan, or around ... » Learn More about 2 Positives For Refinances-Elimination of .5 pt Tax and Rates Drop
Latest CFPB Rules to Transition Mortgages Out of Forbearance
The Consumer Financial Protection Bureau (CFPB) issued new federal mortgage servicing regulations as the foreclosure moratoria and forbearances are phased out. The rules will establish temporary special safeguards to help ensure that borrowers have time before foreclosure to explore their options, ... » Learn More about Latest CFPB Rules to Transition Mortgages Out of Forbearance
Federal Reserve Acknowledges Inflation and Rates to Go Up Sooner Than Originally Planned
The recent Federal Reserve statements convey that the high inflation being realized presently may more lasting, and not be as transitory as originally predicted. Now they’re expecting to raise rates sooner than previously perceived. There’s a lot of Fed banter now about starting with the scaling ... » Learn More about Federal Reserve Acknowledges Inflation and Rates to Go Up Sooner Than Originally Planned
Is Your Condo HOA Doing the Required Balcony Inspections and Have Adequate Reserves to Correct Issues Discovered?
As we hear about the high-rise condominium building collapsing in Florida and balconies collapsing during parties in Malibu, the structural integrity of construction is in the news and the forefront of new government laws and building codes. In August 2019 California passed SB 326 that went into ... » Learn More about Is Your Condo HOA Doing the Required Balcony Inspections and Have Adequate Reserves to Correct Issues Discovered?
California Real Estate Market at a Glance May 2021
California Housing maintains its record-setting pace with the state's Median Price up 39% year over year to $818,260. What skews that number is that's not the "Average Price"... but half the sales are more than that number, half for less. Because there are more multi-million dollar properties ... » Learn More about California Real Estate Market at a Glance May 2021