Regardless of other financial vehicles, we all know owning real estate is the primary way to accumulate wealth and financial security. Especially with the high cost of rent, it’s hard for a first-time buyer to collect the funds to purchase. There are numerous (400+) programs from California or local ... » Learn More about Down Payment and Closing Cost Assistance To Purchase a Home
Mortgage Rates
Mortgage Rates Fall Back to Multi Month Lows
The 30 year fixed mortgage rates have been steadily dropping and are a full percent lower than a month ago. 6.3% may not be 3% like we saw a year ago, but much better than the 7.5% seen in early November. We know the Federal Reserve will increase the Fed Funds Rate again next week. Their battle ... » Learn More about Mortgage Rates Fall Back to Multi Month Lows
Conforming Loan Limits Higher For 2023
Some lenders were recently funding loans higher than the actual 2022 loan limits, with all indications that the loan limits would be higher for 2023. The true loan limits have now been released. The Federal Housing Finance Agency (FHFA) announced the conforming loan limit values (CLLs) for ... » Learn More about Conforming Loan Limits Higher For 2023
New CPI Sends Mortgage Rates Lower
Been a while, but it’s great to say the mortgage rates just dropped ½%. The newly released Consumer Price Index (CPI) showed that overall inflation increased by 0.4% which was 0.2% below expectations, and year-over-year inflation declined from 8.2% to 7.7%. The market was targeting 8.0%. I’ve ... » Learn More about New CPI Sends Mortgage Rates Lower
1976-September 2022 CPI, Mortgage Rates and Recession Correlation
The attached chart shows the historical correlation and sequencing between the CPI (Consumer Price Index), Recession and Mortgage Rates. The blue line is the CPI, the red line is the 30 Year Fixed Mortgage Rate, and the gray-shaded areas are recessions. Observations:The Federal Reserve wants to ... » Learn More about 1976-September 2022 CPI, Mortgage Rates and Recession Correlation