While mortgage rates have been increasing the last few months, they are currently historically low compared with the trend over the last four decades, per Freddie Mac. However rates as low as they were in November 2012-- when the 30-year fixed-rate mortgage got to an all-time low of 3.31 percent-- ... » Learn More about Freddie: No More Record-Low Mortgage Rates
San Fernando Valley Real Estate Market Is Changing
Real estate values are based on basic economics. Supply and demand. Inventory is still low, but increasing at a good pace. Mainly because the quantity of sales are the lowest they’ve been since 2008. Activity is strong. Everyone knows interest rates are going up, and pent up buyers want to purchase ... » Learn More about San Fernando Valley Real Estate Market Is Changing
Wall Street is Scaling Back On Their Home Buying in California
I've been describing the slowing down of the hedge funds (Wall Street) and large foreign investors purchasing Los Angeles real estate for several months now. Among the 20 firms buying the most California real estate as January 2012, purchases are declining more than 70 % compared with last year in ... » Learn More about Wall Street is Scaling Back On Their Home Buying in California
Lenders Leery of non-QM Lending
The qualified mortgage (QM) rule was implemented in January of 2014. It is the one of the rules that originated from the Dodd-- Frank Wall Street Reform and Consumer Protection Act that will affect the housing market. This law is meant to protect consumers by strengthening underwriting standards, ... » Learn More about Lenders Leery of non-QM Lending
FHFA, S&P / Case-Shiller Home Price Measures
Last week NAR released existing home sales and median home price information that showed gains of 9.1 percent in prices in February 2014 compared to February 2013, significantly slower than trends in early summer/fall 2013 when price growth topped a double-digit pace. Today, both the FHFA and ... » Learn More about FHFA, S&P / Case-Shiller Home Price Measures