san diego real estate: Week of July 15, 2013 - Realtor Mortgage Snapshot - 07/15/13 08:54 AM
Real Estate is Still a Good Buy
With the steady increase in mortgage rates and home prices, is real estate still a good investment?  That is the question that many investors and prospective home buyers are asking, clearly wanting to avoid the trap of the last housing bubble.
Jonathan Gray, Blackstone's global head of real estate thinks it is still a great investment.  And he should know, Blackstone owns over 31,000 U.S. homes and is buying more.
Though many are focused on the recent rise in home prices, prices are dramatically below 2006 levels in a number of markets, Gray said. "We … (1 comments)

san diego real estate: San Diego Mortgage News - June 25, 2013 - 06/25/13 01:37 AM
A nice price reversal yesterday, after being down 107 bps at 9:30 the 3.5 July FNMA ended down just 14 bps; the 10 yr note unchanged at the end of the day at 2.54%. This morning prior to 8:30 the 10 yr yield had fallen to 2.49% (5:00 am); 8:30 brought May durable goods orders better than forecasts. Orders were expected up 3.3% as reported up 3.5%, ex transportation orders were expected down 0.1% but increased 0.7%. Treasures and MBSs lost most of the early gains.
 
At 9:00 April Case/Shiller 20 city home price index was expected up 10.9% … (0 comments)

san diego real estate: San Diego Mortgage News - June 13, 2013 - 06/13/13 04:30 AM
Japan’s stock market took another huge hit last night taking the Nikkei index down 6.0% and now trading in bearish territory. The reaction sent the US stock indexes down and dropped the 10 yr note yield to 2.18%. Europe’s stock markets also were it hard on the Japanese selling. US economic data at 8:30 stopped the global slide in stock markets although Europe is still weaker; US stock indexes at 9:00 were pointing to an unchanged opening and the improvement in the bond market lost much of its gains. Weekly jobless claims were down 12K to 334K, estimates were for claims to have increased 4K to … (0 comments)

san diego real estate: San Diego Mortgage News - June 7, 2013 - 06/07/13 10:33 AM
The May employment report, one of the most anticipated in years, in many respects was not as volatile as most of them are. Non-farm jobs earlier this week were for an increases of 167K, after the ADP report on Wednesday being weaker than what had been expected the estimates were ratcheted lower. Non-farm jobs were up 175K and non-farm private jobs increased to 178K right on what the early forecasts were. March and April jobs revisions subtracted 12K jobs originally reported. The unemployment rate was expected to be unchanged at 7.5%, increased to 7.6% because 420K  people entered the job market … (0 comments)

san diego real estate: San Diego Realtor News - April 30, 2013 - 04/30/13 01:01 PM
Pending Home Sales at a 3-year High
According to the Associated Press this morning, the number of signed contracts to buy homes rose in March to the highest level in three years.  The kicker is that sales are believed to actually be held back by limited supply.  There continues to be proof around every corner that the housing market is well on its way to recovery, helped along by low mortgage interest rates.  If you would like to read more about it, here's an array of articles to choose from: http://goo.gl/IBqe0




Last Week's Mortgage Rates Recap
Last week … (2 comments)

san diego real estate: 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)

san diego real estate: San Diego Mortgage News - April 16, 2013 - 04/16/13 02:07 AM
Yesterday the stock indexes fell; the DJIA -266 and NASDAQ -78. Some of the selling was a reaction to the Boston bombing, however that didn’t happen until 3:00. Prior to the shock the stock market was under strong selling pressure, frm the time the bombs exploded the DJIA was down over 170 points. The 10 yr note fell to 1.69%, down 4 bp and 30 yr MBSs +16 bps. This morning at 8:30 the US stock indexes trading in the futures markets were suggesting the DJIA would open up 120 points higher.
 
No follow-through this morning; looking for the correction … (0 comments)

san diego real estate: San Diego Mortgage News - April 11, 2013 - 04/11/13 03:09 AM
Weekly jobless claims out this morning at 8:30; claims were widely expected to have declined 20K to 25K, as reported claims fell 42K to 346K. Last week claims increased 28K, more than was expected at the time. The last two weeks of claims appear to have been to smooth out swings due to the Easter holiday that falls at different times each month. Nevertheless the claims recently have exhibited an increase in volatility. Mix in the March employment report that was exceptionally soft on job creation (+88K) and markets are left scratching heads as to the reality of the employment data … (0 comments)

san diego real estate: San Diego Mortgage News - April 5, 2013 - 04/05/13 05:35 AM
The first Friday of every month is almost always one of shock and awe; the release of the monthly employment data is rarely a calm event. Today the March data didn’t disappoint in terms of surprise. The unemployment rate hit at 7.6% down frm 7.7% in Feb, so far on the surface that looks good, but not really. Non-farm job growth was expected at about 190K, job growth as reported increased just 88K; non-farm private job growth was thought to be about 200K, as reported up just 95K. There was revisions to Feb and Jan jobs that totaled an additional 61K … (4 comments)

san diego real estate: San Diego Mortgage News - Tuesday March 26, 2013 - 03/26/13 03:35 AM
Interest rate markets continue to trade in a tight range, this morning the 10 yr note started down 4/32 at 1.93% +1 bp and 30 yr MBS price at 8:30 -3 bps. US stock indexes early today were pointing to a better opening at 9:30, the same as yesterday; but yesterday after opening better the DJIA dropped 117 points before ending -64. The EU is still impacting markets; although the troika and Cyprus leaders cobbled a plan to keep the country from falling out of the European Union, the plan is not likely to go down well with investors both in … (0 comments)

san diego real estate: San Diego Mortgage News - Friday March 22, 2013 - 03/22/13 05:08 AM
A little better start in the mortgage and bond market this morning even with the stock indexes opening better. It remains all about the Cyprus banks and whether Cyprus can come up with 5.8B euros in order to get bank rescue money from the ECB. Yesterday the gauntlet was laid down to Cyprus by the ECB and EU officials; raise the money by Monday or the rescue is off. Tough talk as there has been in the past, but in recent past crisis’s in Spain, Italy and Portugal the deadlines were achieved in various forms to avoid any systematic EU meltdown. Will … (0 comments)

san diego real estate: Mortgage News - Monday March 18, 2013 - 03/18/13 07:51 AM
Last Week's Mortgage Rates Recap
Last week we ended the week with the same to slightly better mortgage rates than we started, and improved rebate pricing. However, every day had major volatility that greatly affected pricing when consumers locked in their interest rates. We saw swings of as much as .500 in rebate in a day, which on a $200,000 loan is $1,000. We ended the week with risks greatly favoring locking in interest rates.




This Week's Mortgage Rates Forecast
Risks Favor: CAUTIOUSLY FLOATING
What a difference a weekend makes. When we ended last week, we felt … (0 comments)

san diego real estate: Derek McClintock Mortgage News - Friday December 7, 2012 - 12/07/12 01:48 AM
It is the first Friday of the month; the day when chaos reigns. The Nov employment report, as most BLS reports, didn’t disappoint with volatility and numbers that missed estimates by a wide margin on unemployment and job creation. Estimates were “certain” non-farm job increase would be +86K, non-farm jobs increased 146K; private job increase was widely believed to have increased 90K, private jobs increased 147K. The Nov unemployment rate was also widely expected to have increased to 8.0% frm 7.9% in Oct, the unemployment rate fell to 7.7%, the lowest level since Dec 2008. Revisions to previous months had jobs … (0 comments)

san diego real estate: Derek McClintock Mortgage News - Friday November 23, 2012 - 11/23/12 02:08 AM
US stock indexes started better this morning following rallies in most European markets. Germany’s business confidence index unexpectedly increased moving stocks higher in Europe; in the US at 9:30 the DJIA opened +37, NASDAQ +17 and S&P +5. The 10 yr note rate up 1 bp to 1.69% with 30 yr MBSs -6 bp at 9:30. The Ifo Institute reported German confidence index increased to 101.4 frm 100 in Oct; the French business confidence index also increased.
 
There are no economic reports today; Black Friday is usually not much in the markets with early closings at 1:00 PM. Most … (0 comments)

san diego real estate: Mortgage News - Tuesday November 20, 2012 - 11/20/12 03:19 AM
Treasuries and MBSs started lower this morning (price) with pre-market futures trading pointing to a soft open in the stock market. At 9:00 the 10 yr at 1.63% +2 bp and MBS price +2 bp frm yesterday’s close. At 8:30 Oct housing starts and permits were released; starts were expected to have declined but as reported up 3.6% while permits were in line at -2.7%. Starts are at a four year high but well off the norms that were seen prior to the housing market collapse, in the early 2000s starts were at about 1.2 mil annualized units, Oct starts were … (1 comments)

san diego real estate: 4 bedroom home for sale San Diego 92115 - 02/04/12 07:22 AM
4 bedroom home for sale in San Diego 92115
To Pre-Qualify for this 4 bedroom home for sale in San Diego 92115 call Derek McClintock, CMP and Senior Loan Officer with Amerifirst Financial. Derek McClintock will provide the advice necessary for you to obtain financing. The purchase of a 4 bedroom home for sale in San Diego 92115 is the single largest investment that most people make. Your investment is not just in this 4 bedroom home for sale in San Diego 92115 , but also in the neighborhood around this home. Proximity to amenities such as good schools (Hardy Elementary School … (0 comments)

san diego real estate: What Does Warren Buffet Think About Buying A Home? - 01/30/12 11:53 AM
What Does Warren Buffet Think About Buying A Home? by The KCM Crew on January 30, 2012
       Warren Buffet is seen by many as the greatest investor of our time. When he speaks, people listen. Like anyone else in his position of influence, he is criticized by some for using his bullhorn to promote his own business agendas at times. That makes it very interesting when we occasionally learn of how he privately advises those closest to him.
Such a situation occurred this week. Debbie Bosanek, Warren Buffet’s secretary of 37 years, recently purchased a second home in Surprise, Arizona.
(1 comments)

san diego real estate: LOAN PROGRAM OF THE DAY - Dual Primary Residences is NOT Considered a Second Home - 01/30/12 06:48 AM
Dual primary residences is NOT considered a second home…
Dual Primary residences are best explained in an example…think of a partner in a large law firm that has an office in NYC and L.A.  He flies back and forth all the time so he buys a house in both locations. Instead of one of the homes being a second home, instead we consider both primary residences. For purposes of pricing and LTV limitations, this can be very advantageous.  Let me know if you have any questions…
Click here for more information on this and other portfolio loan programs offerred by Derek … (0 comments)

san diego real estate: This 6 bedroom home for sale in Coronado CA 92118 - 01/27/12 05:52 AM
This 6 bedroom home for sale in Coronado 92118 showcases views of the ocean, downtown San Diego, and the nearby golf course. Who wouldn't want to live on the island? Beautiful beaches, the Hotel Del Coronado, great restaurants... you name it, Coronado has it with that small town feel.
This large six bedroom for sale in Coronado 92118 boasts five and half baths and this 6 bedroom home in Coronado offers an unmatched prime location in Coronado Village community.
Custom features in this 6 bedroom home for sale in Coronado 92118 include a built-in pool, Jacuzzi and outdoor kitchen make entertaining … (0 comments)

 


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