Mortgage markets in California worsened last week as Wall Street’s renewed optimism pushed equities to their best one-week gain in 2 years. The change in sentiment was bad news for home buyers sensitive to interest rates when investors pored into stocks at the expense of bonds (mortgage debt). Last week, for the first time since [...]
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What’s Ahead For California Mortgage Rates: June 27, 2011
Mortgage rates in California improved again last week on a revised economic outlook for the U.S. economy, and ongoing concerns about Greece and its sovereign debt. Conforming mortgage rates in Temecula, Corona and Riverside fell last week and now hover near the all-time lows set last November. Adjustable-rate mortgages are especially low. There were three [...]
What’s Ahead For California Mortgage Rates : June 20, 2011
The California mortgage rate market improved last week as Wall Street managed news on both sides of the economic coin. There were several instances of higher-than-expected inflation — an event that tends to lead rates higher — but weak domestic jobs data and a soft manufacturing report suppressed the damage. Rates were also held low [...]
What’s Ahead For California Mortgage Rates: June 6, 2011
Mortgage rates in California improved early last week as a result of worries about Eurozone sovereign debt default and the U.S. employment report showed the economy’s rebound to be moving slower than originally anticipated. In Greece, the nation readied itself for its second bailout in two years. The bailout measures from last year have not [...]
Inflation Rising: Will Mortgage Rates Go Up in California?
Inflation pressures are rising in the United States, especially California. The Consumer Price Index will come out Friday to support what we all know. How will it impact mortgage rates and home affordability in California? More commonly called “The Cost of Living Index”, CPI measures cost changes in the typical items bought by American households. Among [...]
Why Are California Mortgage Rates Rising?
Mortgage rates in California worsened for the 7th straight day Tuesday, equaling the longest losing streak of the last 5 years. Because of the rising rates, homeowners have lost roughly 10% of their purchasing power since November. Conventional, 30-year fixed mortgage rates are now scratching 5 percent, with FHA mortgage rates running roughly the same. This [...]
Government is Increasing Loan Costs Again Starting April 1, 2011 (no fooling)
Starting April 1, 2011, the government is increasing loan-level pricing adjustments (higher fees)…..and that’s no joke! Most conforming mortgage applicants will face higher loan costs.
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