Mortgage rates last week for California home owners and home buyers proved to be another volatile week. Wall Street alternately sought risk and shunned it, causing mortgage-backed bonds to rise and fall rapidly. There was a lot to move markets, too, including banking concerns across Europe, inflation figures within the U.S., and a public [...]
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What’s Ahead For California Mortgage Rates: August 15, 2011
California mortgage interest rates improved again last week. The combination of global economic uncertainty plus a dour outlook from the Federal Reserve pushed mortgage bonds to highs for 2011, and drove mortgage rates below their all-time lows. Bonds were volatile, driven by the stock market’s gyrations. On 4 consecutive days, the Dow Jones Industrial Average [...]
Should You Lock Your Interest Rate Before July’s Jobs Report
The July jobs report will be released tomorrow. Do you have a rate lock strategy in place or willing to miss an opportunity to lock in a crazy low mortgage rate? At 8:30 AM ET Friday, the Bureau of Labor Statistics will release the July 2011 Non-Farm Payrolls report. Mark it in your calendar. If [...]
What’s Ahead For California Mortgage Rates: July 25, 2011
Mortgage markets in California’s Inland Empire Region worsened last week as the Greek sovereign debt situation came closer to final resolution, and as the U.S. housing market showed signs of life. After many weeks, European leaders agreed on a financial package for Greece that featured favorable loan terms designed to slow Eurozone contagion, along with [...]
What Mortgage Rate Do I Qualify For? (the truth)
One of the more common questions I’m asked in the mortgage prequal or pre-approval process is ‘What Rate Do I Qualify For?’ My answer often confuses people when I respond by saying, “You don’t qualify for a rate, you choose the interest rate you want.” This isn’t auto financing where some used car salesman is [...]
What’s Ahead For California Mortgage Rates: July 18, 2011
Mortgage rates in Temecula, Murrieta, Menifee, Corona, Riverside and Moreno Valley area of California’s Inland Empire worsened last week as concerns for the global economy drove investors to “safe haven” buying. Fear continues to dominate mortgage bond market movement. Home buyers who work with a mortgage lender who tracks the real time bond market on [...]
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