Mortgage Interest Rates for 8.15.14
Economic news: Again a fairly quiet week, but with a few indicators that the upward pressure is off. We had the highest unemployment figures since late June with 21,000 filings. Retail sales were a downer, disappointing the market. Consumer purchasing is 65-70% of...
True or False: You Can’t Have More Than 1 FHA Loan at a Time…FALSE
FALSE! With homebuyers feeling confident about the real estate market again, they are wanting to “move up”. Problem is, money. So they think they can do FHA 3.5% down. RIGHT. But they already have an FHA loan. WHAT to DO? Well, if their family has grown, or they are...
Mortgage Rates for 8.8.2014
Your Weekend Rate Sheet: Your buyer’s interest rates can be locked in over the weekend, so if you have a client who is close to having an accepted offer and is nervous about rates we can lock in the interest rate. Remember, we also have thefloat down: if rates improve...
Buying or Selling a Condo? This May Help
I received a call this week from a past client who was selling his condo, complaining that the buyer got turned down for a loan with Wells Fargo. The bank told the buyer it was because the condominium community, here in Torrance, had 50% of the units occupied by...