A lot has changed in the past two weeks, by the hour. It seems every day the gov’t on the local and federal level are attacking the COVID-19 virus and the economic consequences expeditiously. Regardless of the Fed Funds rate being cut to 0-.25% there are multiple dynamics affecting mortgage rates ... » Learn More about Gov’t $1T Stimulus Plan Pressures Mortgage Rates Higher
economics
Fed Makes 1/2% Emergency Rate Drop
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
Virus Sends Interest Rates to Historic Lows
The Corona Virus had its way with the financial markets over the past week. The flight to safety of capital is going into fixed income (i.e. US treasuries, and mortgage backed securities). Mortgage rates generally mirror the moves of 10 year notes. As you can see visually the rates have dropped ... » Learn More about Virus Sends Interest Rates to Historic Lows
Meeting with Congressman Cardenas Recap
The other day I had an in-district meeting with San Fernando Valley Congressman Tony Cardenas (D-CA 29th District) with some of my associates from the Southland Regional Association of Realtors Government Affairs Committee. Even though the congressman works on the federal elements of the ... » Learn More about Meeting with Congressman Cardenas Recap
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