Another bond-market meltdown yesterday has mortgage rates knocking on the door of 5%. The mortgage market is similar to gasoline - prices shoot up instantly but are very slow to come down, if they come down at all. At this point, it would take disastrous economic...
More stories like this should help moderate price increases, though he really doesn't say much, except mention the b-word - from the SF Examiner: Dramatic gains in home prices in San Francisco and other large American cities point to a potentially new housing bubble...
The Statue of Liberty re-opened today!
From the AP via the WaPo - an excerpt: The huge price increases produced an unexpected retirement gift for Larry and Diane Plaster, who were resigned in January to selling their San Diego home for less than they owed the bank, known as a short sale. They owed $352,000...
The wild ride has tempered, and hopefully rates will stay in the mid-4% range: Home Mortgage Rates View More Interest Rates
In late March, HousingWire reported the Federal Housing Finance Agency would expand its suite of mortgage modification tools for Fannie Mae and Freddie Mac servicers. As of July 1st, the Streamlined Modification Initiative is in effect, in order to encourage servicers...
Our daughter Kayla had her first day on the job today, after graduating from college two weeks ago. She put in a 9-5 shift, with no lunch break! We did start with breakfast, where I laid out the basics in 60 minutes, which really just boiled down to one thing: Be a...
The previous period had 100 new NSDCC listings, and 69 new pendings. In the last week we had a 86:64 mix of new listings and new pendings. But we've had an overall increase of 21% in lower-end inventory, and 14% more higher-end houses for sale, since April 29th (peak...
Here's something you don't see very often. Jumbo mortgages are usually 1/2% higher than the rates for conforming loans (under $417,000). But with all the turbulence lately, jumbo mortgage rates are LOWER than a conforming rates at two of the big three banks: Bank...
The C.A.R. published more information on pocket listings, summarized here: http://www.mercurynews.com/saratoga/ci_23531360/realtors-share-info-off-mls-listings The real problem isn't getting addressed. The "pocket" realtors usually don't tell the sellers they are...
