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
economics
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
Mortgage Rates Stable… For How Long?
The mortgage rates have been in a good stable range for a few months. The Federal Reserve rate drops last year and continuing their purchase of $60 billion per month of treasuries, have propped up the economy, while the uncertainty of the China trade issues were up in the air. Now with the signing ... » Learn More about Mortgage Rates Stable… For How Long?
FHFA Announces Higher Maximum Conforming Loan Limits for 2020
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 2020. In most of the U.S., the 2020 maximum conforming loan limit for one-unit properties will be $510,400, an increase from $484,350 in ... » Learn More about FHFA Announces Higher Maximum Conforming Loan Limits for 2020