Mortgage & Finance

Nov
03

Rate Watch Week of Nov. 2

Posted In: First Time Home Buyers, Mortgage & Finance
Rates moved up slightly again in the past week. Freddie Mac announced that for the week ending October 29, 30-year fixed rates averaged 5.03%, up from 5.00% the week before. The average for 15-year fixed rose to 4.46%. Adjustables were also up slightly with the average for one-year adjustables rising to 4.57% and five-year adjustables increasing to 4.42%. A year [...]
Sep
22

$8000 Tax Credit :: Expires in 70 Days!

Posted In: First Time Home Buyers, For Buyers, General Real Estate News, Mortgage & Finance, Taxes
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Are you taking full advantage of the Goverment Stimulus Programs for Homeowners?  Did you know that the $8000 tax credit will expire in 70 days?  When you consider that the average transaction takes between 25 and 30 days that means you only have roughly 45 days to locate and get into contract on your house. Did you know that rates [...]
Aug
25

JD Power Rates Mortgage Servicers

Posted In: Mortgage & Finance
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JD Power rates mortgage servicers Lenders score points for intiating contact By Inman News, Tuesday, August 25, 2009. Inman News Loan servicers score higher marks for customer satisfaction when they initiate contact with borrowers, which can help them win repeat business and referrals from those clients, according to a survey by JD Power and Associates. The survey of 5,000 homeowners, [...]
Jul
17

This Just In From Chet Gohd, Loan Officer With RPM Mortgage

Posted In: Mortgage & Finance
Words by Chet… Here’s the latest update of our economy and mortgage rates.While the economic data released during the week generally matched expectations, the outlook for future economic growth improved due to strong earnings reports, tame inflation data, and a revised forecast from the Fed. Stronger economic growth was good news for the stock market, and the Dow rose over [...]
Jul
06

FHA Finalizes Anti-Flipping Rule

Posted In: For Buyers, For Sellers, Foreclosures & Short Sales, Mortgage & Finance
Real estate flippers got a new set of marching orders last week — at least those flippers who want to use FHA mortgage financing.The Federal Housing Administration issued long-awaited final regulations on property flips last Wednesday. The rules take effect nationwide July 7. Flipping involves resales of houses or other real estate shortly after acquisition, typically at a substantial price [...]
Jun
25

This Just in From the Federal Reserve

Posted In: Mortgage & Finance
This just in from the Federal Reserve, compliments of Chet Gohd, owner of RPM Mortgage in Berkeley.  Here is what Chet has to say: The Federal Reserve concluded their meeting today with leaving interest rates unchanged and offering a few remarks about their view of the current status of our economy. Recent economic reports have offered positive signs in that [...]
Jun
15

Just In…California Foreclosure Moratorium News

Posted In: Foreclosures & Short Sales, Mortgage & Finance
Effective today banks in California cannot foreclose a mortgage without either renegotiating the loan or giving the homeowner three months notice.  This is a good thing because it will encourage lenders to either cut rates or rewrite loans to affordable levels, which may allow many Californian’s to keep their homes.  Lenders will have to demonstrate that they have tried to [...]
May
27

Conventional Super Conforming Loan Details Released

Posted In: Mortgage & Finance
Effective May 18th, 2009, the following will apply to Conventional Super Conforming Loans:  $729,750!  The new Conventional Super Conforming Loan Amounts are going to be available to your clients this coming Monday!  Better Pricing!  Loan amounts up to 90% Loan -to-Value!  Second Home and Investment Homes allowed!