The Federal Reserve has reversed their previously conveyed interest rate plan. Fed Chair Jay Powell indicated there are too many crosscurrents , and the appropriate policy will be to stay pat on the present Fed Funds Rate of 2.25-2.5% for a undetermined period. Only 6 weeks ago the perceived Fed ... » Learn More about Federal Reserve’s New Keyword is Patience – No More Hikes for a While
economics
California Housing Market at a Glance
Based on the California state housing market statistics, year over year pricing is up 1.5%, sales are down 11.6%, inventory is up 40% to 3.5 months (note 5 months is considered normal), and the time on the market is up 28%. Overall the state statistics reflect a slowing, but fairly normalized ... » Learn More about California Housing Market at a Glance
Los Angeles County Housing Market Update
If you are in the Los Angeles area, have any questions or real estate sales or financing needs, feel free in contacting me Ron Henderson GRI, RECS, CIAS President/Broker Multi Real Estate Services, Inc. Gov’t Affairs Chair – California Association of Mortgage Professionals (2017-2018) BRE ... » Learn More about Los Angeles County Housing Market Update
Federal Reserve Increases Fed Rate Again Another 1/4% to 2.25-2.5% Range, But Mortgage Rates Drop
As expected, the Federal Reserve increased their overnight Fed Funds Rate another .25%. This will put the rate in the 2.25-2.5% range. This will affect consumer short term borrowing costs and interest rates on credit cards, and adjustable rate mortgages with an index tied to short term interest ... » Learn More about Federal Reserve Increases Fed Rate Again Another 1/4% to 2.25-2.5% Range, But Mortgage Rates Drop
New Maximium Conforming Loan Limits for 2019
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 2019. In most of the U.S., the 2019 maximum conforming loan limit for one-unit properties will be $484,350, an increase from $453,100 in ... » Learn More about New Maximium Conforming Loan Limits for 2019