From the peak of the recent mortgage rates in October '22 at 7.375%, they then dropped to 6.0% when the Federal Reserve made their last .25% increase in the Fed Funds Rate. The perception of the mortgage bond market was the Fed was beating the inflation monster. But then Rates have been rising at a ... » Learn More about Mortgage Rates On A Roller Coaster
economics
The Unintended Consequences of Recent Rent Control Changes in Los Angeles
The Los Angeles City Council in late January 2023 just passed an expansion of the Rent Stabilization Ordinance. This modification is applicable only to the rental properties in LA City not LA County. LA County extended the County’s COVID-19 Tenant Protections Resolution (formerly the LA County ... » Learn More about The Unintended Consequences of Recent Rent Control Changes in Los Angeles
Down Payment and Closing Cost Assistance To Purchase a Home
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 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
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