Economic News with Lower Rates
Soft economic news brought lower rates… We started the week’s economic data with personal income and spending. Income was up .3% and spending was up .4%. That was not good for mortgage rates, as it showed a pretty good increase in income and people’s spending. This is...
This Weeks Win! 10/2/15
Client who bought a home in 2005 finally gets to drop their interest rate from 6.5% down to 3.625%, 30 year fixed. This client bought this home in north Torrance on a 0 down in 2005 for $525,000. Property values went down shortly after that, leaving them with a 5 year...
Can the Bank Take My House Away if My Husband Dies?
If I am not on the loan, and my husband dies, the bank can take the house away. FALSE! I felt so bad that my client today was so worried about this. A bank cannot “take away” the house or force you to pay the loan back if the borrower or even main wage earner dies. As...
Stock Market News
This week was a doozy in the stock market! Normally that helps the bond market, but it had little effect. In the end, it was a seesaw week. We got a final GDP revised number and it now was determined that the GDP grew at 3.9% in the 2nd quarter which was much better...