In a nutshell the housing market and mortgage rates are basically in a status quo position. Housing active inventory is up but still tight from potential sellers being locked in with historically low interest rates. Overall sales are active. Well priced listings in the lower price range sell ... » Learn More about San Fernando Valley Housing and Mortgage Rate Update May 2024
Mortgage Rates
Weighing the Options: Is Paying More on Your Mortgage Right for You?
When mortgage rates were forced artificially low during the COVID period, I had to have serious conversations with clients on if they should pull extra cash out with a refinance if they’ll have an economic need for that money in the future. This was because they weren’t going to be awarded that low ... » Learn More about Weighing the Options: Is Paying More on Your Mortgage Right for You?
Why Recent Underwriting Decisions on Mortgage Originations Are More Difficult
The mortgage underwriting landscape has become increasingly challenging, primarily due to the pervasive impact of buybacks and other market conditions. Underwriters (UWs) are now facing a myriad of pressures and obstacles that complicate their decision-making process. Here's a detailed look at why ... » Learn More about Why Recent Underwriting Decisions on Mortgage Originations Are More Difficult
Mortgage Rate Update Update March 22 2024
Last Wednesday the Federal Reserve had its March FOMC meeting and left the Fed Funds Rate alone at 5.25%-5.5%. They believe the inflation rate is still moving in the right direction, but the January and February higher inflation rates appear to be seasonally prone to err. Chair Powell reiterated ... » Learn More about Mortgage Rate Update Update March 22 2024
1st Time Buyer -Shared Appreciation “California Dream For All” Loan; Good, But Not Really For All
It’s hit the media, the second round of the government's “Dream For All” in 2024 will be very different than the first round last year. Created in 2022, Dream for All was originally envisioned as a 10-year, $10 billion investment before lawmakers scaled it back last year. In 2023 only $300 ... » Learn More about 1st Time Buyer -Shared Appreciation “California Dream For All” Loan; Good, But Not Really For All