The Federal Reserve made a 50 basis point drop to the Fed Funds Rate to help try to stabilize the financial markets. The markets have been in a distressed mode since the Coronavirus has been expanding internationally. Interest rates have already been dropping as I've indicated on my prior blog Virus ... » Learn More about Fed Makes 1/2% Emergency Rate Drop
Mortgage Rates
Corona Virus Drops Interest Rates to New Lows
Nothing like a bug in Asia to send our rates lower. The interest rates were already substantially lower than they were a year ago, because of economic weakness in Europe and the China trade malfunctions. Now since the China Phase 1 trade deal has been signed, the Corona Virus is replacing trade as ... » Learn More about Corona Virus Drops Interest Rates to New Lows
California Real Estate Market at a Glance December 2019
The December California state real estate numbers have a few striking year over year elements that show the stronger market in 2019 compared to 2018. The affordability Index is better by 14+%, even though the median price is up 10%, primarily because the interest rates are a full percent lower than ... » Learn More about California Real Estate Market at a Glance December 2019
Mortgage Rates Stable… For How Long?
The mortgage rates have been in a good stable range for a few months. The Federal Reserve rate drops last year and continuing their purchase of $60 billion per month of treasuries, have propped up the economy, while the uncertainty of the China trade issues were up in the air. Now with the signing ... » Learn More about Mortgage Rates Stable… For How Long?
FHFA Announces Higher Maximum Conforming Loan Limits for 2020
The Federal Housing Finance Agency (FHFA) today announced the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2020. In most of the U.S., the 2020 maximum conforming loan limit for one-unit properties will be $510,400, an increase from $484,350 in ... » Learn More about FHFA Announces Higher Maximum Conforming Loan Limits for 2020