The US Supreme Court decided that the leadership structure of the Federal Housing Finance Agency (FHFA) violates the Constitution and the separation of powers. That gave President Biden authority to remove the agency’s head at will. Just hours after the court’s decision, the White House fired ... » Learn More about Supreme Court Decision Will Affect Freddie Mac and Fannie Mae Mortgages Underwriting and Fees
Mortgage Rates
Mortgage Rates Stable, But For How Long and Where Do They Go From Here?
The long-term interest rates have been fairly stable recently, and within a range since the beginning of April. Prior to that, the rates jumped substantially from January through March. The big quandary now is will the jump in the inflation rate only be transitory, as the Federal Reserve ... » Learn More about Mortgage Rates Stable, But For How Long and Where Do They Go From Here?
How Much Income Does It Take To Buy A Median Priced Home In The San Fernando Valley?
Even though the interest rates are attractive, the appreciating property values continue pushing higher the income needed to qualify for the purchase using a standard 80% loan to value 30 year fixed loan. Make note, the median priced home in the San Fernando Valley is now over $900,000 ! If ... » Learn More about How Much Income Does It Take To Buy A Median Priced Home In The San Fernando Valley?
The Fed Loses Control of Rates – After 2 Months Will Mortgage Rates Stabilize?
I've been warning that rates were going up for a couple of months. It doesn't matter that the Federal Reserve conveyed that they are going to keep the Fed Funds Rate at 0% through 2023. Let's review some of the reasons why the financial markets are forcing rates higher... The economy is looking ... » Learn More about The Fed Loses Control of Rates – After 2 Months Will Mortgage Rates Stabilize?
Mortgage Rates Move Higher, Will They Come Back Down?
Even though the Federal Reserve will main keep the Fed Funds Rate at 0% for the next couple of years, and has been buying $120 Billion a month in securities ($40B in mortgage backed securities) trying to force the interest rates down to offset the economic issues created by the pandemic, rates have ... » Learn More about Mortgage Rates Move Higher, Will They Come Back Down?