Interest rates have broken out of technical areas today. This chart of the 10 year note correlates with the direction of mortgage rates. Over the past 3 days we've seen a 1/4% increase in rates, and over the 2 months it's up 3/4%. This will hurt potential buyers to qualify for loans, but also drive ... » Learn More about Ouch ! Rates Have Jumped !
housing affordability
California Housing Construction Not Keeping Up With Population Growth
California housing costs will remain high going into the future. It's a matter of supply and demand. Even though the quantity of new housing construction permits have been going up over the past few years, the quantity is no where close to where it needs to be to house the household growth of ... » Learn More about California Housing Construction Not Keeping Up With Population Growth
Mortgage Interest Rate Update February 11, 2015
Ron Henderson President/Broker of Multi Real Estate Services and a Gov't Affairs Chair for California Association of Mortgage Professionals evaluates the present mortgage interest rate environment as of February 11, 2015 Ron Henderson GRI, RECS, CIAS President/Broker Multi Real Estate Services, ... » Learn More about Mortgage Interest Rate Update February 11, 2015
California Real Estate Market at a Glance
The California values are up a moderate 3.1% year over year. Inventory is up marginally, time on the market up, and the Affordability Index is flat, thanks to low interest rates have lasting longer than expected. If you are in the Los Angeles area, have any questions or real estate sales or ... » Learn More about California Real Estate Market at a Glance
January 26 FHA Cost Drop, Tighter Appraisal Review Process
The FHA monthly mortgage insurance premium drops January 26 by .50%. This is to make it more competitive with Freddie Mac and Fannie Mae's 3% down programs. The FHA Up Front Mortgage Insurance Premium will still be 1.75%. The better quality borrowers have migrated to conventional financing because ... » Learn More about January 26 FHA Cost Drop, Tighter Appraisal Review Process