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 […]
Buying a home after filing bankruptcy in California requires a waiting period before being eligible to qualify for an FHA, VA, USDA, or Conventional home loan. How soon you can buy again after the bankruptcy (the waiting period) depends on what type of home mortgage loan you plan to use. Why? Because FHA, VA, USDA, […]
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 […]
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 […]
A common question home buyers in California ask me is if an FHA loan is better than a Conventional loan. The increase in popularity between the two loan programs may be an indicator as to which is better. FHA now insures 25% of all home mortgage loans in the United States, which is the […]
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 […]
The most common question I’m asked during the mortgage prequal or pre-approval process is ‘What Interest 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 trying […]
