Friday, January 31, 2014 7:18 am
Mortgage buyer Freddie Mac says the average for the 30-year loan declined to 4.39 percent from 4.41 percent last week. The average for the 15-year loan eased to 3.44 percent from 3.45 percent.
Tuesday, January 28, 2014 4:00 pm
(BPT) - Once at rock bottom, interest rates have ticked up slightly in recent months. Still, the prospect of refinancing a mortgage remains attractive. Interest rates are projected to rise to 5 percent or above by August 2014, according to an August 2013, Freddie Mac study.
Friday, January 10, 2014 7:30 am
Mel Watt was sworn in Monday as the head of the Federal Housing Finance Agency, and many in the mortgage industry believe that Watts’ confirmation signals a new shift in U.S. housing policy with greater access to credit, Reuters reports.
Friday, December 6, 2013 8:57 am
I want to share some great news to start off your holiday season. The Federal Housing Finance Agency announced it will keep the 2014 maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac at $417,000 on one-unit properties in most areas and a cap of $625,500 in high-cost areas. What does this mean for Lodi? The maximum conforming loan limit for our area is $417,000 according to Carrie Nicholsky at Academy Mortgage.
Friday, October 18, 2013 7:12 am
I had the great privilege of listening to a few top industry professionals debate this issue while at the business meetings of the California Association of Realtors in Long Beach last week. Often times, as with most political arenas, deciphering through the rhetoric double talk can lead most listeners tone deaf and frustrated. But this meeting was one of the better highlights on the agenda so I thought I’d pass the info along.
Sunday, September 15, 2013 10:00 pm
(StatePoint) If you’ve ever thought about purchasing a home, you’re not alone. Called the “American Dream” for good reason, nearly four out of five renters now say that homeownership is a priority for them in the future, according to the National Association of Realtors’ (NAR) 2013 National Housing Pulse Survey.
Thursday, September 5, 2013 11:22 am
Don’t fear rising mortgage rates just yet. The interest rate for a 30-year, fixed-rate mortgage is expected to hover around 4% during the second half of 2013 according to Freddie Mac in its latest U.S. Economic and Housing Market Outlook.
Sunday, April 28, 2013 10:00 pm
(StatePoint) There’s a good reason why many people dream of owning a home. Homeownership offers benefits such as stable monthly payments and the opportunity to establish a sense of community. It can also be a way to build equity over time.
Friday, March 1, 2013 6:57 am
Freddie Mac released its U.S. Economic and Housing Market Outlook for February last week showing that while the housing sector is recovering, the level of housing activity is still near historic lows. And in many markets, especially those hardest hit such as the San Joaquin Valley, there is room for sustainable growth because of record high home-buyer affordability, a factor of relatively low house prices, mortgage rates and modestly rising income.
Friday, November 16, 2012 10:19 am
With Thanksgiving next week, there truly is so much to be thankful for. Please take this time and remember to thank the people around you every day, and be thankful for the many blessings that have come your way.
Friday, November 2, 2012 7:00 am
Did you hear? Wells Fargo recently surprised thousands of home loan customers by sending refund checks to a fraction of its Federal Housing Administration-backed borrowers.
Friday, October 26, 2012 6:55 am
Fannie Mae and Freddie Mac have issued new rules, which will take effect Nov. 1 that will allow short sales for underwater borrowers who have never missed a mortgage payment.
Friday, September 14, 2012 12:00 am
Banks are the key to the availability and cost of mortgage loans, but bank regulators are also. As directed by the Dodd-Frank financial reform, regulators will soon make some important decisions affecting who can obtain mortgages and what interest rates will prevail.
Friday, August 31, 2012 7:15 am
Pending home sales rose in July to the highest level in over two years and remain well above year-ago levels, according to the National Association of Realtors (NAR).
Friday, August 3, 2012 12:00 am
I know I have said it before: is this the year of the Short Sales? Well, according to Reuters, 2012 may be the year the short sale market peaks, because of a number of factors.
Friday, July 27, 2012 12:00 am
Over the past few months, there have been many bills passed and new ones introduced. The newest one is the The Fast Help for Homeowners (FHFH). This bill will require subordinate lien holders to respond to short sale offers within 45 days. The FHFH Act was introduced by Congressman Jerry McNerney (D-Stockton).
Friday, June 8, 2012 12:00 am
Congratulations to all the graduates in Lodi and surrounding areas, you did it! You are moving forward to high school, college or starting a new career. What an accomplishment for you. Good luck to all of you in your new venture.
Friday, May 18, 2012 12:13 pm
According to the National Association of Realtors (NAR), the median existing single-family home prices are firming in many metropolitan areas. Improving sales and declining inventory are creating more balanced conditions, according to the latest quarterly report.
Friday, April 27, 2012 12:00 am
Some changes are coming according to Fannie Mae and Freddie Mac. Beginning on June 15, loans backed by Fannie or Freddie should expect to have a decision on a short sale offer within 30 to 60 days. If 30 days or more are needed, servicers must provide the borrower with weekly updates and must come to a decision within 60 days from when they received the offer.
Friday, March 16, 2012 2:13 pm
Wow, here is a breakthrough from Bank of America. A report came from Washington stated that Bank of America said last Friday, it would reduce the amount owed by underwater homeowners by about $100,000.
Friday, February 10, 2012 5:04 pm
Do you know the real question on everyone’s mind is. When will
property values appreciate again?
Friday, February 10, 2012 12:00 am
A landmark $25 billion settlement with the nation's top mortgage
lenders was hailed by government officials Thursday as long-overdue
relief for victims of foreclosure abuses. But consumer advocates
countered that far too few people will benefit.
Friday, February 3, 2012 12:33 pm
Are you looking to sell your home quickly? For a quick sale,
make your home stand out. Selling your home is 90 percent pricing
and 10 percent marketing (staging, advertising, maybe even an open
Thursday, January 12, 2012 12:00 am
Due to the high home foreclosure rate in California, Rep. Jerry
McNerney, D-Pleasanton, and 27 other members of Congress from
California have called for President Barack Obama to immediately
appoint a permanent director of the Federal Housing Finance
Friday, December 30, 2011 12:00 am
Happy New Years to you all. We have survived another overall
very difficult year in the general economy and specifically in the
housing market. However, I must say that it has been an honor to
write this column for you every week. It has also been a challenge
to select topics for the discussion that are appropriate for the
current events of the day.
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