A new loan quality initiative from Fannie Mae is making it harder or more riskier for home buyers and refinancing homeowners in California to close on a mortgage.
Author Archive | Brad Yzermans
What’s Ahead For California Mortgage Rates: June 7, 2010
Market momentum is currently in the rate shoppers’ favor. We entered the weekend with rates falling and they look poised to open Monday no worse.
May 2010 Jobs Report Gives A Temporary Boost To Home Affordability
According to the government, 431,000 jobs were created in May, but of those new jobs, 95.4 percent represented temporary staffing for the 2010 Census. Home affordability is improving on the report.
Pending Home Sales Data Shows Prices are Going Up and Great Deals May Be Harder to Find
April marks the third straight month that pending home sales are up and today’s buyers should take note. This is because, according to the National Association of Realtors®, 80% of homes under contract close within 60 days.
Consumer Confidence Hints At Higher Home Prices and Higher Mortgage Rates
According to The Conference Board, economic confidence is as high as it’s been since August 2007 — 4 months before the start of the recession. Americans are optimistic again. It’s good for home prices but bad for mortgage rates.
CA FHA CHF ACCESS Govt. Home Purchase Loan Requires Only 1/2% Down Payment
While funds last, residents of California are eligible to qualify for a the FHA CHF ACCESS Down Payment Assistance loan that requires only 1/2% (one half) down payment. This is NOT limited to just first time home buyers and makes qualifying for an FHA home loan easier when buying in Temecula, Murrieta, Menifee, Lake Elsinore, Canyon Lake, […]
Supply Of New Built Homes Just Dropped Off A Cliff
At the current sales pace, the nation’s complete supply of new homes would be sold in just 5 month’s time. That’s more than double the pace of a year ago.