low rates: Southern California Refinancing: Mortgage Rates Fall Again
- 11/12/09 08:43 AM
The time for refinancing your home may never have been better. Mortgage rates have fallen again, sparking a rise in home refinance activity. The average rate on a 30-year fixed-rate loan fell to 4.90 percent last week from 4.97 percent two weeks ago. This is just fractions of a point higher than the lowest that rates have ever been. At the current 30-year rate, monthly borrowing costs for each $100,000 of a loan would be $530.73, or about $84 less than the same week a year earlier, when the rate was 6.24 percent. The average rate on a 15-year fixed mortgage fell … (2 comments)
low rates: Congratulations To The LA Angels Of Anaheim- Overcoming Adversity With Another AL West Title
- 09/28/09 06:13 PM
When Anaheim Angel pitcher Nick Adenhart was tragically killed in a car crash the first month of the 2009 season, the team's year was in question. Adenhart was 22 years old and the top pitching prospect in their organization. He had just pitched 6 scoreless innings the night that he was killed. Led by one of the best managers in baseball, Mike Scioscia, the Angels came together as a team and rallied around their adversity. Tonight, they beat the Texas Rangers and clinched the American League Western Division. About 10 minutes into their celebration in the clubhouse, the Angels surrounded … (9 comments)
low rates: Southern California Mortgage Rates Fall Again- Refinance Activity Spikes
- 09/23/09 05:51 AM
According to the Mortgage Bankers Association, applications to purchase or refinance a home spiked by 12.8 percent this week. Refinances are accounting for almost 2/3 of all mortgage activity (64%). Mortgage rates have been steadily falling since June of 2009 and are now under 5 percent again. The MBA reports that the average interest rate for a 30-year, fixed rate mortgage fell to 4.97% from 5.08% the week before.
JB Brookman Refinance Expert Senior Home Loan Consultant 310.502.9877 Mortgages and Refinancing: Westlake Village and Calabasas to Malibu. … (0 comments)
low rates: Mortgage Interest Rate Tip For Those Deciding To Refinance
- 04/17/09 08:17 AM
A little interest rate tip for those considering whether to refinance or deciding whether to lock in their rate... The New York Federal Reserve, yesterday, reported that it purchased 21.7 billion dollars worth of MBS (mortgage backed securities) from April 9 through April 15. The purchases were mainly concentrated in the 4% to 6% coupon range. What this does is tell us that mortgage interest rates have little chance for more improvement... unless, the FED starts purchasing 3% to 3.5% coupons.
JB BROOKMAN SENIOR MORTGAGE CONSULTANT SOUTHERN CALIFORNIA REFINANCE SPECIALIST CASTLE HOMES AND ESTATES 310.502.9877 WWW.TEAMJB.COM jb@castlehomesandestates.com Serving the … (0 comments)
low rates: Mortgage Market Wrapup April 14, 2009
- 04/14/09 11:31 AM
The 4.0% mortgage bond was higher for the second day in a row. This is great for mortgage rates (driving them down). The bond gained 28 basis points to close at $100.19. Poor retail sales, low producer inflation and the FED purchasing a larger portion of Treasuries were responsible for the rise. Retail Sales fell 1.1% in March, which was surprising to a market which was expecting a very small gain. The FED purchased 7.3 billion dollars in issues maturing between 2013 and 2016. The purchase was larger than usual and this helped mortgage bonds. Goldman Sachs shares fell 11.6% today and … (0 comments)
low rates: Culver City Town Hall Meeting: Tonight- Monday March 30, 2009
- 03/30/09 07:56 AM
Culver City Town Hall Meeting 7:00pm Monday March 30, 2009 Venue: Mike Balkman Council Chambers 9770 Culver Blvd Culver City, CA 90232 Contact/Info: Martin Cole (Asst. City Manager/City Clerk) (310) 253-6000
The focus of this Town Hall Meeting will be to discuss the public notification process; early community involvement in the development process; and the financial condition of the City. All members of the public are welcome to attend. … (0 comments)
low rates: Reminder: Spring Forward Tonight! Daylight Saving time!
- 03/07/09 04:14 PM
Just a quick reminder to set your clocks ahead by an hour as we enter daylight saving tonight at 2am. Did you know??? Officially, the spelling is "Daylight Saving Time" and not "Daylight Savings Time." The idea of Daylight Saving was started by Benjamin Franklin in 1784. He also penned the proverb: "Early to bed, early to rise, makes a man healthy, wealthy and wise."
The law to preserve daylight and provide standard tie for the US was established on March 19, 1918 All Amtrack trains that are running on time will stop for one hour at 2am, in order … (3 comments)
low rates: Dow Jones Below 7000?... Simply Astounding!
- 03/02/09 09:01 PM
Another giant drop on Wall Street today sent the Dow Jones tumbling to 6763. The last time it closed below 7000 was May 1, 1997. It has already lost 23% of its value in 2009. The big question is- how low is the floor? Are we at the bottom or will things continue to deteriorate? Much of the despair in the markets was caused by insurance behemoth AIG, who reported that they lost $62 billion in the 4th quarter of 2008, the biggest in corporate history. The US government has chosen to, again, bail them out as they fear that a … (2 comments)
low rates: The Heart Of A Bull Rider: Life And Business Lessons From A Visit To The PBR
- 03/01/09 06:20 PM
This weekend, I was privileged enough to be able to photograph the PBR Invitational at the Honda Center in Anaheim, CA. I will tell you upfront, I have never had any desire to see a rodeo or a bull riding event. But, my lovely wife has been begging me to go for years!...
What transpired at the event, made me a new fan and taught me some life and business lessons. A professional bull rider is quite an incredible athlete. He literally risks his life, every time he shows up for work. He puts everything that he has, into his … (1 comments)
After a monumental week of long negotiations, the state legislature sent the budget on to Governor Arnold Schwarzenegger on Thursday. I'll write more about this later. Expect higher taxes and lots of cuts in spending. The stock market fell again today, closing over 100 points down at 7365 (Dow Jones). This is the lowest close in 11 years. General Motors stock hit 74 year lows today. Mortgage rates continue to be very attractive for those who have solid credit, equity and employment.
low rates: Obama Signs Stimulus Package Into Law, Stocks Fall Again- Notes On The Economy and Mortgages
- 02/17/09 07:41 AM
I'm writing this post in the last half hour of the stock market being open today... so, I'm trying to wait things out before posting the final numbers... Notes On The Economy and Mortgages (Week of February 17th) Today, President Barack Obama signed the $787 billion economic stimulus package into law. My opinion on the package? It's going to take time and patience to see the results of this legislation. We won't know for months and possibly years what the ramifications are. What we can do is continue to seek out professionals who will take the time to educate and consult … (4 comments)
The markets did not react so favorably. The Dow Jones fell over 4 percent today- down 382 points! Wall Street seemed frustrated with the perceived lack of specifics from Treasury Secretary Timothy Geithner. Fed Reserve Chairman Ben Bernanke also testified at a House Financial Services Committee hearing and did not elaborate any further. This seemed to further extend the stock market slide. The financial sector led the losses with 10.9% overall … (9 comments)
low rates: Today: Stimulus Package Test Vote Makes It/Obama's First News Conference
- 02/09/09 06:44 PM
Today- Monday February 10, 2009 Today the proposed $838 billion economic stimulus bill barely made it through the test vote in the Senate. 60 votes were needed to send it on to tomorrow's probable passage. The vote ended up at 61-36.
President Barack Obama held his first prime-time news conference tonight. The President said, "The plan is not perfect,. No plan is. I can't tell you for sure that everything in this plan will work exactly as we hope, but I can tell you with complete confidence that a failure to act will only deepen this crisis as well as … (1 comments)
low rates: Unemployment hits 7.6%- Congress Divided Over Stimulus Package
- 02/07/09 05:35 PM
"The time for action is now. If we don't move swiftly to put this plan in motion, our economic crisis could become a national catastrophe."- President Barack Obama Unemployment numbers came out worse than expected, while the Senate continue to bicker over the proposed $827 Billion (plus or minus) stimulus package. This week, Congress will vote on the package. 598,000 jobs were lost in January. This is the worst number since 1974. 7.6%- up from 7.2% last month. There's talk that included in the stimulus package is a $15,000 tax credit, which aims to lift the slumping housing market. Definitely an … (3 comments)
low rates: $819 Billion Stimulus Package Passes House- On To Senate- Big For President Obama
- 01/28/09 04:39 PM
The House of Representatives passed the $819 Billion stimulus bill today by a margin of 244-188. This marked a big victory for President Barack Obama. Not a single Republican voted YES on the bill and 11 Democrats voted NO. The bill now moves on to the Senate and may take a week or two to be voted on there. There should be a lot of lobbying going on in the next week. One negative to the day was the lack of bipartisan support. More news on the market reaction to the bill tomorrow...
JB BROOKMAN CASTLE HOMES AND ESTATES SENIOR … (6 comments)
low rates: President Barack Obama and the $825 Billion Stimulus Package: Vote Today
- 01/28/09 04:24 AM
The House of Representatives will vote on President Barack Obama's 825 Billion Dollar Stimulus Package today... word is, between 3 and 4pm Pacific Standard Time. The Dow Jones is up this morning as a result of the news... Will share the results of the big vote as soon as we have them...
low rates: Ladera Heights/Culver City, CA: Westfield Fox Hills Mall Rennovation
- 01/27/09 05:59 PM
Here's a great website for residents of Ladera Heights, Culver City, Westchester or anyone interested in the plans, renderings or updates on the Westfield Fox Hills Mall: http://westfield.com/newfoxhills/home.html The transformation of the Westfield Fox Hills Mall, in Ladera Heights/Culver City, began in January of 2008. We are just 9 months away from the scheduled grand opening in October. Highlights will include: Adding 340,000 square feet of new retail space. Adding Target as a new anchor store. New architecture and outdoor dining. The mall continues to be open during renovation.
JB BROOKMAN CASTLE HOMES AND ESTATES SENIOR MORTGAGE CONSULTANT www.teamjb.com jb@castlehomesandestates.com … (0 comments)
low rates: Get In Line!!! (Your Refinance, That Is!)
- 01/24/09 02:14 PM
As a mortgage banker and mortgage broker, I am a witness to the clogged up pipelines of all of the banks and investors. It has been said that the amount of refinance business is near the levels of 2003. At that time, banks were fully staffed. Obviously, this is not currently the case and families are being forced to wait longer and longer for their loans to close. The FED has pledged to purchase $500 billion in MBS (mortgage backed securities) through the end of June. Despite interest rates inching up this past week, we must take into consideration that they still have … (4 comments)
low rates: Random Notes from the Refinance Wave...
- 01/13/09 03:20 AM
Earnings season has begun. Should be interesting to see how the numbers affect the economy and mortgage rates in general... Alcoa came out with their earnings today. The numbers were much worse than we expected as they lost $1 billion in the 4th quarter of 2008. Stocks have been down over 500 points in the past week. Citigroup is having all sorts of problems. Mortgage rates continue to touch all-time lows and this is a great time to take advantage. Especially if you have good equity, credit and income. Retail Sales and the Consumer Price Index numbers come out at the … (1 comments)
The time for refinancing your home may never have been better. Mortgage rates have fallen again, sparking a rise in home refinance activity.
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