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 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 […]
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 […]
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.
Loan-level pricing adjustments are mandatory loan fees based on a borrower’s specific default risk.
The rate-and-fee combination you get in California is different from the rate-and-fee combination you’d get if you lived somewhere else. In the West, rates are low and fees are high; in the Southeast, it’s the opposite.
Want a lower mortgage rate on your upcoming home buy? Make sure you know when to set your closing date or when to lock.
