Tag Archive for: dow

Rob’s Market Report…The Good, the Bad, and the Ugly

Hope the week is treating you well! 

For us in lending, it’s a world wind!  Never in 30 years have I worked so many hours per week with such concentration for so long since going Shelter In Place on March 17.  We had a short stay on SIP but that didn’t last long with SIP Chapter 2 commencing, where COVID numbers rapidly increased as the state of California and other states throughout the US lifted social distancing rules.

While COVID has impacted un-employment its done little to nothing in the near term to the Dow Jones which closed at 26,828 today and interest rates have gone lower.  Definitely the lowest I have ever seen them in 30+ years of doing lending.

If you, your friends or family haven’t refinanced and have loans below $765k, have them contact us and we will happily quote them.  Most retail banks are taking 90+ days to close a refi while were still at 45 to 50 days from start to finish.  In addition, if your clients just want an idea of what’s available we can usually respond with a rate update within 24 hours whereas retail banks based on what my clients are saying, can sometimes take, weeks for a response.

Its as simple as completing the following questionnaire and forwarding back to me to run a rate search…See below:

Please complete the following refinance questionnaire or go here to complete online https://101loan.com/refinancing-start/.  Once completed, I will research loan options out of 50 lenders and provide a rate comparison for your review based on the best available rates and loan options.  Any questions at all, please contact me.  Thanks.

1)  Provide your property/mailing address, day and evening numbers.

2)  What is the estimated value of your property and is your dwelling permitted with the city?  In addition, is this property your owner occupied or investment property?   Lastly, is the property a house, townhouse or condo?

3)  What are the balance of your 1st Mortgage-      2nd Mortgage-       3rd Mortgage-

4)  What are the rates on your 1st Mortgage-      2nd Mortgage-       3rd Mortgage-

5)  What are the payments on your 1st Mortgage-      2nd Mortgage-       3rd Mortgage-

6)  Do you want cash out?  If so how much?

7)  How long do you plan on owning the property?

8)  Does your loan have a prepayment penalty?  If so, when does it expire?

9)  When did you purchase your home and for how much?

10) What is your annual, verifiable income and what is your estimated FICO score?

11) Which loan programs are you considering?  Fixed and/or Hybrid?

In closing, if you need help with any type of financing, please contact me.  See current market report at http://www.mmgweekly.com/w/index.html?SID=86df7dcfd896fcaf2674f757a2463eba.

BTW…if you missed my last video on Home Insurance, make sure you watch this.  A client of ours out of the area was just quoted over $10,000 on a 3000 sq ft house as they let their home insurance lapse and unfortunately for them, they are in a risky area “burn wise”.  https://101loan.com/market-update-and-insurance-update-fire-season-is-upon-us/

Best Regards,

Rob McCarthy

Senior Mortgage Advisor


408-377-4123 o  650-465-8957 c   408-608-1921 f

101 Loan – 1601 S De Anza Blvd, Suite 260, Cupertino, CA 95014

CA DRE #01165697  NMLS #121019


  1. Residential Financing for Purchases and Refinances on 1 to 4 unit properties.
  2. Reverse Mortgage Financing to include Conforming, Jumbo, HELOC Jumbo’s.
  3. Commercial & SBA Financing to include Multifamily, Office, Retail and Light Industrial.
  4. Access to over 50 banks with over 200 “Five Star” Reviews on Yelp, Google, Facebook and Linkedin.

Note: Interest rates and loan programs quoted are subject to change without notice or until locked and approved by lender.

Unemployment Down in Bay Area and Real Estate Staying Strong…

A Very Interesting Week for Real Estate, Unemployment and the Dow Jones!

This week, see why the economy is coming back strong. For more info, see https://youtu.be/7DaDcWhDUdg.

Home Values

Real Estate values continue to stay strong, with multiple offers as Shelter in Place has been modified.

Just this week, we pre-approved over twice as many borrowers as with previous weeks.  Many of my Realtors are reporting buyers coming off the fence and writing offers.  Housing inventory is finally up with Shelter in Place in Phase 2 allowing Realtors the ability to list property.  Inventory is now at 2.8 months but with over 7 Million people residing in the bay area, that isn’t much!  This is great news for sellers, but not so much for buyers where supply and demand are not equal.


Bay Area unemployment wasn’t as high, as some expected, compared to other areas throughout California.  Marin County came in at 11.1.  San Francisco County at 12.6, San Mateo County at 11.4 and Santa Clara County at 11.7.  What is also interesting is national unemployment dropped from 15.3 to 13.3%.  In just one month, over 2.5m people went back to work which is great news for the economy!

Local, National and Global Markets

The Dow closed today at 27,110 due to the following:

  1. Economic Optimism
  2. Overwhelming Policy Response
  3. Corona Virus Uncertainty Abating
  4. Global Yields Increasing

For more info on these, see my weekly report which can be found at www.101Loan.com under Rob’s Corner.

In Closing…Noah Manning with Perspective Realty in the North Bay and myself provided a summary on the above (and more) at https://youtu.be/7DaDcWhDUdg.   (I hope you enjoy it and if you like it, please leave your comments on the channel)

I hope you have a great weekend!

All the Best,

Rob McCarthy

Senior Mortgage Advisor

408-377-4123 o  650-465-8957 c   rob@101loan.com

101 Loan – 14435 C Big Basin Way, Saratoga, CA 95070

101 Loan LLC – CA DRE #01165697  NMLS #121019


  1. Residential Financing for Purchases and Refinances on 1 to 4 unit properties.
  2. Reverse Mortgage Financing to include Conforming, Jumbo, HELOC Jumbo’s.
  3. Commercial & SBA Financing to include Multifamily, Office, Retail and Light Industrial.
  4. Access to over 50 banks with over 200 “Five Star” Reviews on Yelp, Google, Facebook and Linkedin.

Opportunity May Be Knocking – 1st Time Buyers May Finally Have a Leg Up!

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… it continues to be in demand.  Predictions state that this may not be the case in the future, unless officials come up with a plan for consumers to stay healthy but still productive.  Real Estate continues to stay high in value since inventory is so low but with consumer confidence being low and because Shelter in Place is still in affect, properties may sit on the market for longer periods.

This is creating opportunities for first time home buyers.  Because of the stock market correction, 1st Time Buyers,  don’t have to compete with buyers that were using stocks to purchase a property or that had large down payments, putting 1st Time Home Buyers into competitive position.  In addition, sellers are getting antsy, wondering why their homes are not selling or when they may sell.

For more info on the above, about the Bay Area Real Estate Market and Current rates, please tune into my You Tube channel at 101 Loan or at https://youtu.be/-3DSUCsKQVg.

For more info on the above, about the Real Estate Market locally and about current interest rates, tune into my You Tube channel..  If you would like to get pre-approved, please contact us at www.101loan.com or complete the following questionnaire at https://101loan.com/purchasing-start/.

Any questions, please contact me at https://101loan.com/contact-us/.

All The Best,

Rob McCarthy

Owner and Senior Mortgage Planner

101 Loan LLC

“A Stock Market Loss is Only a Loss if You Sell”

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 huge losses with “Shelter in Place” and consumers are pulling back their purchases, analysts feel MORE stock losses are imminent.  The Federal Government stimulus will help in the short term, but longer-term, we are facing a new economic reality and one that we will not like.

If you’re in your 60’s, 70’s or 80’s, making back the market’s losses may only be a hope, and unfortunately not reality. The question to ask is…What are my options now that my fixed costs are the same, but my assets have taken a big hit?

We may have an answer for you. To learn more, please contact me or review the information on my site at https://101loan.com/reverse-mortgage-start/ .

Thank you.

Best Regards,

Rob McCarthy

Senior Mortgage Advisor


408-377-4123 o 650-465-8957 c

101 Loan – 14435 C Big Basin Way, Saratoga, CA 95070

101 Loan LLC – CA DRE #01165697  NMLS #121019

“Over 200 “5 Star Reviews on Yelp and Over 30 years of Experience in Lending”

Market Update and What Should Retired Homeowners Due in a Declining Stock Market…

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. Purchase loans are still low in rate as banks subsidize them. In regards to market volatility for this week, please see the following at https://seekingalpha.com/article/4335928-markets-are-setting-up-for-another-move-down-technically-speaking-for-week-of-3-30minus-4-3.

In Addition…Wells Fargo has announced they will only do jumbo loans for clients with $250k deposited with them and will not be doing conforming loans or government type loans (such as FHA and VA) going forward. We are glad we have access to more than one jumbo lender and access to everything else! Being a broker in this type of market does have its perks with access to multiple lenders, many of which are portfolio lenders and lenders that sell to Fannie Mae and Freddie Mac, giving our clients more loan options!

In Closing…with market devaluations, many of your retired clients may be feeling the pain or fear of seeing their portfolio or monthly income from those assets go lower. As a solution, we have access to Reverse Mortgage Financing that can help them Age in Place and eliminate stress and anxiety with the changing times. For more info, please contact me.  Any questions, please contact us.


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 price themselves.

See this week’s report below.  If you need anything, please contact me.


Remember, I provide 3 different types of financing:

  • Residential Financing (1 to 4 Units)
  • Commercial Financing (5+ Units, Office, Retail and Light Industrial)
  • Reverse Mortgage Financing (Conforming and Jumbo and the New Jumbo Heloc)