Average 30 Year Fixed Mortgage Rates Continue To Be Under 3.5%

Both Freddie Mac and BankRate.com in its latest survey announced that the average 30 Year Fixed mortgage rates continue to be under 3.5%. While Freddie Mac reported a rate of 3.37% with 0.7 in points, BankRate.com reported 3.46%. Per Freddie Mac, rates went down 3 basis points from last week while Bankrate.com rates actually went […]

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How to Build a Good Credit from Scratch

Establishing a good credit history has never been as important as it is today. It’s not just that you’ll need good credit to get decent rates when you’re ready to buy a home or a car. Your credit history can determine whether you get a good job, a decent apartment or reasonable rates on insurance. […]

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Dos and Don’ts during your California Mortgage Loan Process

It is very tempting to start thinking about decorating your new home the moment you initiate the mortgage process. But as a Lender, there are certain things I caution my clients against to ensure their California mortgage gets approved smoothly. When you fill out a credit application, they run a credit report for the underwriter. […]

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How to De-mystify Mortgage Rate and Become a Better Rate Shopper

Shopping for the best Mortgage rate possible has always been the primary objective when borrowing a home loan. As well it should be! The challenge with this strategy is that there is much misleading information released on the subject by various media. Internet web sites and email marketing, along with other media such as radio, […]

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Low Housing Inventory, Low California Mortgage rates: What should prospective buyers do?

Fixed term mortgage rates have broken another record low period. While on the rate side, this is great news for consumers wishing to buy a new home, it does not sound as appealing when taking into stock the low homes for sale inventory in California. The other dampener in the deal is the stringent lending […]

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Will Fed’s Effort to Lower Mortgage Rates Boost Housing and Economy?

Fed’s announcement last week is aimed at keeping mortgage rates low for a long time and spur housing and economy. The trillion dollar question is – will it actually achieve that aim? It sure faces a lot of hurdles. (By the way if you missed Fed’s announcement, Read the news here reported on this site.) […]

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Breaking News – California Mortgage Rates Sink After Fed Announcement

Ben is at it again. Guns Blazing, Fed announced they are all in for as long it takes. Earlier this morning Fed made the statement that they would buy $40 billion each month of agency mortgage-backed securities on an open end basis. Fed would even extend those purchases and buy additional assets if the job […]

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California Mortgage Loans to become more expensive – Courtesy of G-Fees

FHFA (Federal Housing Financial Agency) recently announced increase in Guaranteed Fees (aka G-Fees) for all Conforming Fannie Mae and Freddie Mac loans originated in California and rest of the country. Let’s try to understand what the G-Fees is and how does it impact you. G-Fees defined (From Fannie Mae website) A guaranty fee, also referred […]

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Fannie Mae Guideline Changes Coming to a California Loan Near You

Fannie Mae is set to release a new version (9.0) of its automated underwriting system called DU (Desktop Underwriter) over the weekend of Oct 20th, 2012. Fannie Mae tightened some underwriting guidelines based on their performance data. Here are some highlights: Limited Review for Condominium to be capped at 80% (currently at 90%) – So […]

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How will the Fed Announcement Impact California Mortgage Rates?

Fed chairman Ben Bernanke strongly defended the Fed $2.3 trillion in bond purchases since 2008, strengthening the case for another quantitative easing. He claimed it has helped create more than 2 million jobs and he was considering another installment. Top Fed officials believe that such programs help drive down long-term interest rates in California and […]

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