el cajon mortgage: San Diego Mortgage News - June 14, 2013 - 06/14/13 01:49 AM
Yesterday the bond and stock markets rallied as the FOMC meeting gets closer. For the past month markets have been consumed with the belief that the Fed was about to begin reducing its purchases of MBSs and treasuries. As the meeting approaches (next Tuesday and Wednesday) those “rock solid” beliefs are not so solid. Not unusual when there is a major news event approaching investors and traders lessen their aggressiveness. Yesterday on the Fed primary dealers was out saying the Fed isn’t likely to taper as soon as had the increasing belief; Justin Lederer at Cantor said the Fed would not taper next week. … (0 comments)

el cajon mortgage: Current San Diego Mortgage Rates - May 22, 2013 - 05/22/13 06:36 AM
Wow!  What a crazy last week for mortgage rates in San Diego, CA.  As you can see from the picture below, rates have taken A BIG turn for the worse.  The green candlesticks are good, meaning rates are getting better. The red candlesticks are BAD meaning RATES ARE GETTING WORSE (going up).  Also the higher that candlestick on this Fannie Mae 3.5 coupon chart, the lower interest rates are.  The lower the candlesticks are on this chart, the higher interest rates are.
 
I hope you're sitting down.... it's a wild ride.  Anyone who is on the fence right now needs … (0 comments)

el cajon mortgage: San Diego Mortgage News - May 17, 2013 - 05/17/13 02:28 AM
Early this morning the interest rate markets were unchanged from yesterday’s close; by 9:30 though the 10 yr note yield had increased to 1.90% frm 1.88% and 30 yr MBSs -16 bp frm yesterday’s close. The DJIA opened +40, NASDAQ +19, S&P +5; the 10 yr at 1.90%, mtg prices -16 bps.
 
There were no economic reports today until 9:55 when the U. of Michigan consumer sentiment index, expected at 78.0 frm 76.4 at the end of April. The index jumped to 83.7, a strong improvement and nice to see but the index is volatile and generally reflects sentiments driven by the … (0 comments)

el cajon mortgage: San Diego Mortgage News - May 9, 2013 - 05/09/13 03:48 AM
This morning at 8:30 the first economic report of the week that drew any attention; weekly jobless claims. Claims were widely thought to be up about 11K to 336K frm last week, as reported claims fell 4K to 323K and last week’s claims revised slightly higher 327K frm 324K originally reported. Claims now the lowest in five years and imply that employers have reduced firings in recent weeks, but still not yet willing to radically increase hiring. The April jobs data last Friday revealed more increases in private jobs that markets were expecting, nevertheless hiring is still slow. The 4 wk average … (0 comments)

el cajon mortgage: San Diego Mortgage News - April 26, 2013 - 04/26/13 01:59 AM
Q1 advance GDP was widely expected to be +3.1% growth for the quarter; as reported GDP up just 2.5% after Q4 2012 was up 0.4%. It is the advance report and subject to change next month when we see the preliminary data; nevertheless growth according to the report isn’t as strong as thought. The reaction wasn’t much compared to trade prior to the data; the 10 yr note prior to 8:30 down 1 bp at 1.70%, at 9:00 1.68%. Stock indexes were weaker before GDP but there was not much additional selling when the weaker data hit. The drop in defense … (0 comments)

el cajon mortgage: This week in Mortgage - April 22, 2013 - 04/22/13 04:18 AM
Last Week's Mortgage Rates RecapLast week saw interest rates and pricing rebates remain stable for the second week in a row. Surprisingly though we didn't see the intraday volatility that we expected to see. Even though the stock market, along with the prices for gold and oil all were very volatile, that volatility never crossed over into the bond market, specifically the 10yr Treasure note and MBS (Mortgage Backed Securities), the drivers for mortgage interest rates and pricing rebates.
This Week's Mortgage Rates Forecast
Risks Favor: FLOATING
Interest rate markets are driven these days by each move in the key stock indexes; that market … (0 comments)

el cajon mortgage: La Mesa Mortgage Banker Derek McClintock - 02/02/13 07:37 AM
La Mesa Mortgage Banker Derek McClintock has been in the industry for over 11 years.  Born and raised in San Diego, he loves helping his family, friends, and referrals with their real estate financing needs.
The Lending Company, Inc., San Diego, is a purchase focused mortgage company with excellent turn times!  We also are amazing at refinancing your home loan and keep our refinances under 30 days (unlike the bigger lenders / banks).  We are able to offer basically all loan programs available in today's mortgage market.
We are a Direct Lender / Mortgage Banker with the ability to broker when need be!
Everything is done … (0 comments)

el cajon mortgage: The Lending Company, Inc. San Diego Mortgage Banker Derek McClintock - 01/27/13 04:29 AM
We are a purchase focused company with excellent turn times!  We also are amazing at refinancing your home loan and keep our refinances under 30 days (unlike the bigger lenders / banks).  We are able to offer basically all loan programs available in today's mortgage market.
We are a Direct Lender / Mortgage Banker with the ability to broker when need be!
Everything is done in-house from processing to underwriting to doc drawing to funding!
Please call or email me about our loan programs (Conventional, FHA, VA, Jumbo Loans, Conventional to 95%, CHF Platinum Loan Program , HARP 2.0 refinances). I also have access to a whole line of portfolio … (0 comments)

el cajon mortgage: Derek McClintock and AmeriFirst Financial in San Diego, CA - 08/08/12 05:10 AM
 
We avg. 21 days for purchase transactions!  We are a Direct Lender / Mortgage Banker with the ability to broker when need be!
Everything is done in-house, here in San Diego, from processing to underwriting to doc drawing to funding!
Please call or email me about our loan programs (Conventional, FHA, VA, Jumbo Loans, Conventional to 95%, FHA 203K, HARP 2.0 refinances). I also have access to a whole line of portfolio banking products that don’t fit into the Fannie Mae / Freddie Mac underwriting box.
Realtors – let me show you our incredible property marketing system that … (0 comments)