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. Continue reading
Starting 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. Continue reading
Mortgage markets improved last week, pushing mortgage rates in Northern California lower for the second straight week. Conforming fixed and adjustable-rate mortgage cut new, all-time lows, and FHA mortgage rates did the same.
In a holiday-shortened trading week, stronger-than-expected U.S. economic data and ongoing weakness within Europe drove investors into the U.S. mortgage-backed bond market. When demand for bonds is high, mortgage rates improve.
The Refi appetite continues. Continue reading
As the new year begins, there are no shortage of stories telling us what to expect in 2012. Housing finished 2011 with momentum and mortgage rates closed at the lowest rates of all time.
Some expect those trends to continue through the first quarter and beyond. Others expect a rapid reversal.
Who’s right and who’s wrong? Continue reading
Mortgage rates improved last week during a holiday-shortened trading week. The mortgage bond markets closed Monday for Christmas, and closed early Friday afternoon. Trading volume was light all week-long, which contributed to a year-end rally.
Mortgage bonds made their largest one-week gain in two months as conforming mortgage rates in California fell to new lows nationwide. Continue reading