Over the past 7 trading days, Mortgage rates were wounded with 2 of the largest one-day spikes in over 2 years. Rates rose last week with average rates a 30-year fixed rate mortgage rising from last week’s 3.35 percent to 3.42 percent with buyers paying all closing costs and 0.7 percent in discount points.
We are in a definite “locking” bias at the moment. As I am publishing this blog, rates are still trending worse this Monday morning. Read the rest of this entry »
Mortgage rates fell again last week and are again near record lows.
According to Freddie Mac, the average rate for a 15-year fixed rate mortgage did achieve a record low of 2.61 percent as compared to 3.1 percent one year ago.
The average rate for a 30-year fixed rate mortgage fell to 3.40 percent and near the record low of 3.31 percent.
Low mortgage rates are helping homeowners with refinancing and are boosting housing markets as more buyers can qualify for mortgage loans. Read the rest of this entry »
When looking to buy or sell Sacramento real estate, confusing terminology can leave you feeling somewhat uneasy. From a multitude of numbers to marketing jargon, property listings can give you an overwhelming amount of information — and it’s hard to know what’s important. Read the rest of this entry »
Last week, the S&P/Case-Shiller Index showed home prices gaining 8.1 percent during the 12-month period ending January 2013, marking the largest year-over-year increases since the summer of 2006. Looking closer to home, here in Sacramento, that number is much greater.
The Case-Shiller Index measures changes in home prices by tracking same-home sales throughout 20 housing markets nationwide; and the change in sales price from sale-to-sale.
All 20 Case Shiller Index Markets Show Growth Read the rest of this entry »
The Federal Reserve’s statement after yesterday’s Federal Open Market Committee (FOMC) meeting left no doubt as to the Fed’s dual commitment to keeping long-term interest rates down and encouraging economic growth. But there were a few subtle changes to the Fed’s current bond-buying program made during today’s FOMC meeting.
The Fed buying bonds and Mortgage Backed Securities (MBS) works by boosting bond prices, which typically helps with keeping mortgage rates lower. Instead of the Fed’s monthly purchase of $85 billion in bonds and MBS per month, they will now make the call if they want to reduce these purchases, depending how well the economy is performing. Instead of turning this quantitative easing (QE) OFF or ON, they can use the concept of a “dimmer” switch instead. Read the rest of this entry »
Buying a foreclosed property in Sacramento and the surrounding area can be different than buying other types of real estate. And if you are a first time home buyer, this may not be a road you want to travel down.
In many cases you will be able to get a fantastic deal on a home, but you will need to go through quite a bit of work and negotiation. Here are some of the basics facts from a local agent with a ton of experience in the area of Foreclosed property – click here for video Read the rest of this entry »
As a home buyer in Sacramento, you can get a feel for whether a home’s systems and appliances are in working order. However, you won’t know for certain until after the home’s been inspected.
This is why real estate agents recommend that buyers hire a licensed home inspectors immediately after going into contract. It’s the best way to really know the home which you’re buying. Read the rest of this entry »
Mortgage rates worsened last week in response to more indications that the U.S. economy and global economic trends are improving. Global economic data was stronger than expected; which generally boosts investor confidence and leads to higher mortgage rates in Sacramento and across the country.
We may see a reversal of this trend in the short-term because the stock market remains overbought and ready to retrace, the obvious question is when? With little economic news this week, there is no reason the stock market should improve or interest rates should change much. Until the stock market retreats, U.S. interest rates are not likely to decline much. Read the rest of this entry »
That picture to the right is our very friendly cat, Stanley. He actually handled the move into his new home without much fanfare – he settled in quite nicely. But, I know this is not true for many, and moving to a new home can be a difficult transition for everyone in the family, including the furry, four-legged members.
Dogs and cats develop a strong bond with their environment so when they from their territory it can cause them stress.
Here are some tips to ease your pets’ transition to a new home : Read the rest of this entry »
In the aftermath of Hurricane Sandy, stories have emerged of homeowners whose hazard insurance coverage was too low to cover the damage to their respective properties.
Unfortunately, this scenario is common among U.S. homeowners, and is not just limited to damage from natural disasters. Homeowners in Sacramento and nationwide are often woefully under-insured against catastrophe in its many forms. Read the rest of this entry »
