First and Foremost… I just read an interesting report on how lenders may eliminate cash out refinances on conforming and jumbo loans. We have seen the “add” for cash-out refinances get super expensive lately. It appears the Federal Reserve doesn’t want borrowers pulling equity out of their homes. They feel home values may go down […]
In the Bay Area, we have been in Shelter in Place for over 30 days. Unfortunately the flattening of the COVID 19 has not reduced the curve as much as officials have hoped. Meanwhile consumers are wondering when they will be able to go back to some normalcy in life. In terms of Real Estate… […]
A Stock Market Loss is Only a Loss if You Sell or so Financial Planners tell us! For those in their 30’s, 40’s or 50’s, those age groups, should have time for the stock market to recover. However, for those much closer to retirement or retired, they may not be as fortunate! As companies take […]
As for Mortgage Rates and the Stock Market…The dust has not settled. Analysts say this week or next may be similar to the last few weeks with volatility in the market. For now, only loans of $510k or less are low in rate. Loans above $510k are expensive, “rate wise” when looking at refi options. […]
With a significant decline in the stock market, Retirees may have depleted a great deal of their reserves. If over the age of 62 and a Home Owner, why not consider a Reverse Mortgage? This may free up cash, pay off bills, cover future expenditures and provide those reserves that make us all sleep better […]
As you know the Federal Reserve lowered rates, specifically the Fed Fund was lowered to 0. This means the bank lending rate has dropped, lowering rates at the street level at tad, but no-where near where they were weeks ago when rates were lower. Rates are still up because of the following… Lenders are slammed […]
Has This Ever Happened to You? You’re buying a car at a dealership. They tell you that your Fico score is 800+ and you will get the lowest rate possible. You order your credit report on Credit Karma and your Fico Score is 820. Then its time to apply for a home loan and after […]
Rates dipped a few weeks ago however rates went up for the following reasons: Lack of Real Estate Inventory for Sale (1 month or less inventory in some areas) Low Unemployment (at 3.6%) Lenders took to much business in. Government offices are closed delaying purchases and refinances. Market Volatility – Lenders don’t know how to […]
Recently rates dropped, but that didn’t last long. Numerous economic reports (see report below) came out showing positive signs that the economy will “steam” forward coupled with the Federal Reserve’s statement that they have “no plans on increasing rates in 2019” means one thing in the near future…Higher Values and Higher Rates! (Rates tend to increase when […]
Just had an interesting question from a client… Does a refi and the appraisal required to do a refi, trigger a re-assessment. It does not. See below for more info.
