Monthly Archives: January 2012

Obama’s Plan to Help Responsible Homeowners

Click on Picture to watch the President’s speech.

By now, I am sure you have all heard about the President’s latest directive this week to help troubled homeowners refinance their mortgages, even if their loans are far higher than the value of their homes.

The bigger question should be – Will the big banks  adopt the presidents plan? Polls show a majority of Americans are in favor of his plan but we know that means nothing unless the banks and congress make it so. Read the rest of this entry »

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Posted by on January 31, 2012 in Housing Analysis, Mortgage Blog


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What Mortgage Rates Are Doing This Week : January 30, 2012

Net New Jobs, 2010-2011I can’t believe I am posting this – once again rates dropped last week, setting near all-time lows set earlier this year.

Mortgage markets improved last week as news from the Federal Reserve, the U.S. economy, and Europe combined to spur new demand for mortgage-backed bonds. Read the rest of this entry »


Posted by on January 30, 2012 in Mortgage Rates


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Rates Improve! A Simple Explanation Of The Fed Statment Today

Putting the FOMC statement in plain EnglishWednesday, the Federal Reserve’s Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent. To add impact, the Fed has indicated that they will “likely not raise interest rates until at least late 2014”.

The Fed Funds Rate has been near zero percent since December 2008. To be fair, on Jan 13th we saw rates at their lowest mark in over a year, only to see them deteriorate over the last week and a half. With the Fed news today, we are seeing a marked improvement – but not to the levels we saw January 13th.

For the third consecutive month, the Fed Funds Rate vote was nearly unanimous. Just one FOMC member dissented in the 9-1 vote, objecting only to the language used in the Fed’s official statement.

Read the rest of this entry »

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Posted by on January 25, 2012 in Federal Reserve


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What Mortgage Rates Are Doing This Week : January 23, 2012

FOMC meets for a 2-day meeting this weekThe outlook for the U.S. economy improved last week, taking the mortgage bond market with it. For the first time this year, conforming mortgage rates rose throughout California from one week to the next.

Data was strong across all categories last week.

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Posted by on January 23, 2012 in Mortgage Rates


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Foreclosure Filings Fall To 49-Month Low

Annual Foreclosure Change, Top 10 States, December 2011

Foreclosure filings are fewer these days, according to foreclosure-tracking firm RealtyTrac. As a mortgage lender in Sacramento, and living in a state that has been hit hard by massive equity losses, this news is promising.

In December 2011, the number of foreclosure filings nationwide fell 9 percent from the month prior. Not since November 2007 has foreclosure activity been this sparse across the country.

The drop does not appear to be seasonal, either. Read the rest of this entry »

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Posted by on January 18, 2012 in Housing Analysis


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Will Home Values Rise in 2012?

Will your home gain value over the next 12 months? Nobody can know for sure, of course, but should recent housing trends continue, there’s concrete cause for optimism.

The housing economy has suffered since 2007, knocking home values down nearly 20% nationwide. Here in Sacramento, the hit has been much larger (30% to 50%). And while some areas have fared better as compared to others, in general, home values are down. Read the rest of this entry »

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Posted by on January 13, 2012 in Housing Analysis, Rankings


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Lock Your Mortgage Rate : New Loan Fees Expected Within Days

Payroll tax fees for new loansStarting soon, nearly all home buyers and refinancing households throughout California and nationwide will pay higher mortgage loan fees. Congress has made it law.

As a Lender in Natomas, California, I am prepping my clients for higher fees. 13 months ago, as part of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, Congress enacted a one-year cut to FICA payroll taxes. Read the rest of this entry »

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Posted by on January 10, 2012 in Mortgage Blog, Mortgage Rates, The Economy


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