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 […]
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 […]
More commonly called APR, Annual Percentage Rate is a government-mandated mortgage comparison tool. It measures the total cost of borrowing over the life of a loan into dollars-and-cents. A loan’s APR is printed in the top-left corner of the Federal Truth-In-Lending Disclosure, as shown above. When quoting an interest rate, loan officers are required by […]
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 […]
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 […]
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 […]
