The California Real Estate Market has slowed from its overheated condition in 2013. In a nutshell: * Existing Home Sales - quantity DOWN year over year (Tighter credit due to new loan legislation, higher prices, fewer investors buying into the higher market, and fewer traditional buyers qualifying ... » Learn More about California Housing Market at a Glance
Government to Have Freddie and Fannie Ease Up
The new Director of the Federal Housing Finance Agency Mel Watt, is reversing the previous Director Edward DeMarco's position that the Freddie and Fannie should be tightened to reduce their roles in the housing market. They were trying to push private money into taking over the financing role... but ... » Learn More about Government to Have Freddie and Fannie Ease Up
Increase in Tenure in Home: Due to Increased Buying Power?
The median tenure in a home from 2000-2008 was six years. From 2009 to 2013 the number has incrementally increased to its present figure, a median of nine years. There has been much discussion about the reasons why tenure has increased. It is a multifaceted issue: • There are still underwater ... » Learn More about Increase in Tenure in Home: Due to Increased Buying Power?
VA Issues QM, Safe Harbor Rules
The Veterans Administration has issued an interim final rule defining what constitutes a QM or qualified mortgage under VA loan rules. That rule essentially defined all closed-end residential mortgage loans as QMs if they were eligible for purchase or guarantee by FHA, the VA, USDA, or the ... » Learn More about VA Issues QM, Safe Harbor Rules
Why Bad News Can Be Good for Home Loan Rates
It's counter-intuitive that negative economic news can actually be good for home loan rates, but there's a pretty simple explanation, and once you "get it" it makes perfect sense. First, remember that big money managers in search of higher returns avoid holding onto cash by investing in both Stocks ... » Learn More about Why Bad News Can Be Good for Home Loan Rates