by Athena Paquette | November 17, 2022 | Blog | 0 Comments

A mortgage is a loan or debt that is secured by real estate. In some states it is also the word used for the lien that is put on the property to secure the debt. Normally this loan is paid back over a specific time , like 30 years or 15 years, until the entire...

How raising the prime rate makes mortgage rates go down

by Athena Paquette | September 26, 2022 | Blog | 0 Comments

I have talked about this before but I think it is worth revisiting after our talk last week about the prime rate. The Federal Reserve raised the Fed Funds rate (often confused with the prime rate) by 0.75% this week.to 1.75% it was 0.25% a year ago. The highest 1-day...

Mortgage Minute – ARMS and HYBRIDS

by Athena Paquette | September 19, 2022 | Blog | 0 Comments

What do you do when mortgage interest rates jump up 2% in 4 months? Don’t go LONG, go SHORT use a HYBRID ARM loan ARM means adjustable-rate mortgage. But some people are not comfortable with the idea that their mortgage payment and that the interest rate will start...

Mortgage Minute – Adjustable rate mortgages or ARMS

by Athena Paquette | September 12, 2022 | Blog | 0 Comments

When rates go up, we usually see a switch over from the 30 year fixed to ARM loans. Why go LONG at a high rate when you can go short at a lower interest rate and get the upfront savings? People do this to help ease the payment shock of rates going up and to help them...

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Prime rate went UP, fixed rates went DOWN . . . What?

Mar 18, 2017 | Blog, Home Buyers, Home Owners, Investors, Realtors

The biggest news this week was that the FOMC met on Tuesday and Wednesday. Fed Chairperson Janet Yellen announced that they had voted to raise the Fed Funds rate by .25%. We the public know that as the prime rate. The markets felt great relief that they finally...

Saved from a $40k mistake . . .

Mar 11, 2017 | Blog, Featured, Home Buyers, Home Owners, Investors

While this is not a mortgage, I am glad to say I saved one of my long- time clients about $40,000. This client came in to find out about buying an apartment building in Lomita that was a house with 4 units in the back. We had determined that to retire in the South...

Powerful Economic News this Week

Mar 11, 2017 | Blog, Home Buyers, Home Owners, Investors, Realtors, Uncategorized

Mortgage rates rise .125% to .25% on the expectation of the Fed raising the prime rate, and on the stronger than expected payroll numbers… The economic news this week was thin but powerful. ADP (the payroll processing company) employment report on Wednesday stated a...

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