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We’re back into the low 5 and even high 4% range today. Not the low-LOWS of earlier this year but close. Who will take advantage of it? I know a lot of people that kept waiting and waiting for the mythical 4.5% creature to emerge but lost out on anything are thanking their lucky starts [...] What do you think when I say “CHDAP”? Probably nothing and that’s totally normal if you’re not in the mortgage business (might even be normal if you are in the business but don’t pay attention). CHDAP used to be a way to get low and no down-payment loans… A super low rate simple interest second [...] To measure the affordability of home-ownership the NAR uses their Affordability Index. This is the main source of this information in the industry. This index is calculated by dividing the lowest amount of income needed to make the monthly payments on a median U.S. home by the median income of an American household. As an [...] Even though the stock market is up today, over 100 points on the Dow, bonds improved as of closing as well. Treasuries made up nearly half of yesterday’s (Black Wednesday) losses and Mortgage Backed Securities tried to follow suit but couldn’t muster quite the same rally. That being said there are signs on hope that [...] Today we have seen the entire bond market take a huge hit. Mortgage Backed Securities and Treasuries are way down, and I mean WAAAAAYYYYYY down. We’ve seen the market off by 2 full basis points. Meaning as much as 0.75% to rates from just yesterday. I will keep an eye on things as [...] The federal government has done quite a bit to help facilitate low interest rates for as many American homeowners and first time buyers as possible. Well, it seems to be working on at least one level. Homeowners that refinanced during the first quarter of 09′ will save a combined $2,500,000 over just the next year [...] Good news for homeowners and comforting news for first time buyers in the Roseville and Sacramento area considering buying but not sure if the great home price roller coaster ride is over…. MDA Date Quick reports that median home prices in the Sacramento area increased by 5% in April from March 09′. It’s also been reported by Data [...] There’s a lot of concern about housing right now. People are wondering if the Sacramento Real Estate market has flattened out or if it’ll continue to depreciate. If I’m considering selling my home should I do it now or will it get worse before it gets better? Scared [...] The Mortgage Banker’s Association weighed in on the huge problem of loan modification scammers… http://www.mbaa.org/NewsandMedia/PressCenter/68855.htm Take a look and you’ll see a couple of ways that this has been happening and what to avoid. You’ll notice that, just like my last post on the subject, they mentioned that these new loan mod companies popping up [...] This is a big question I’ve had since the new tax credit was announced earlier this year. It could be a great help to young families in Roseville trying to buy their first home if it was allowed. It would allow first time buyers in and around Roseville to buy a new house or condo without having to exhaust [...] |
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