mortgage: Burbank CA Mortgage Rates - 05/19/20 06:38 AM
Burbank, California is located just outside of Los Angeles with a population of over 100,000 people. It's north of Hollywood and less than 20 miles from the ocean. Buying a home in Burbank can be expensive and finding the right mortgage company to work with is important. Most homeowners chose a 30 year fixed rate mortgage due to the higher than average loan amounts.
A Media Hub:
Everyone is fascinated with Hollywood but what most people don't know is that most television and film production companies are located outside of the city boundaries of Hollywood. That's were cities like Burbank come in. Nickelodeon, Cartoon Network, Warner … (0 comments)

mortgage: Buellton CA Mortgage Rates - 05/19/20 06:38 AM
Buellton California is a beautiful small town located in the Santa Ynez valley which is north of Santa Barbara and south of San Luis Obisbo. With a little over 5000 residents, Buellton California provides a small town sense of community among the residents who call it home. Homebuyers in Buellton have access to local mortgage companies as well as online mortgage brokers who work with clients throughout the state of California. 
Home Values In Buellton, California:
One of the great things about Buellton is the affordable housing it offers (when compared to places like Santa Barbara or San Luis Obisbo). Most local homes are in … (0 comments)

mortgage: Berkeley CA Mortgage Rates - 05/19/20 06:37 AM
Located in northern California, Berkeley is east of San Francisco (across the bay) and just north of Oakland, California. For over 15 years my team and I have been providing low rates, fast closings and exceptional service to homeowners in Berkeley and throughout California. Refinance or purchase, owner occupied or rental, excellent credit or bad credit - we have options to help you secure a low rate mortgage.
Owning A Home In Berkeley, California:
Berkeley, California is home to one the best universities in the world; University of California, Berkeley (Cal Berkeley). The city is not only home to Cal Berkeley but also a … (0 comments)

mortgage: Home Mortgage In Eureka California - 05/06/20 03:52 PM
We’re a top-rated mortgage broker offering great mortgage programs to homeowners and homebuyers throughout California. We have a wide variety of mortgage programs to mee the needs of our clients.
Eureka, California:
Eureka is located in northern California and has a population of nearly 30,000 people. It’s 270 miles north of San Francisco and about 100 miles south of Oregon.
There are several local mortgage lenders residents of Eureka can use when buying a home or refinancing a current mortgage but some local residents chose to work with an online lender who might be able to provide lower mortgage rates. 
When staying in Eureka some … (1 comments)

mortgage: Around The Web - 05/05/20 04:07 PM
Here are my latest updates from around the web. Mortgage rates are starting off the month at great levels for both refinance and purchase transactions. After hitting all-time lows early-mid March, mortgage rates moved higher until mid April when the market started to reverse course.
The mortgage industry has made a lot of changes in the last two-three weeks which will have a significant impact on thousands of homeowners and homebuyers throughout the country. Just to name a few:
If you are doing a cash out refinance be prepared to pay more (if you can find a lender willing to do the … (0 comments)

mortgage: May 2020 Mortgage Rates - 05/04/20 01:20 PM
May 2020 mortgage rates are starting off the month near all time lows for both refinance and purchase transactions.Fixed rate mortgages remain more attractive then adjustable rate mortgages for both owner occupied and non-owner occupied transactions.
May 2020 Mortgage Rate Expectations:
Overall we believe the mortgage rates during the month of May will remain stable with a chance of seeing some improvements. In general, mortgage lenders have worked through most of the huge influx of applications they received from late February through mid-March. Demand for low rates mortgages remains strong and because of this mortgage lenders have little to no incentive to lower … (0 comments)

mortgage: Conforming vs Non-Conforming Loans - 04/04/20 12:51 PM
If you are in the market to purchase a home then you should adhere to a few important aspects when searching for the right mortgage lender. Perhaps the most important thing is to chose a lender you can trust. One that has a great reputation and a long history of providing great loans to homebuyers.
Part of process in chosing the right mortgage company is making sure the Loan Officer you're working with is experienced, knowledgeable and trust worthy. Someone who will take the time to answer your questions so that you can be better educated as to the process of obtaining a mortgage.
A true mortgage professional … (0 comments)

mortgage: How Long Do I Have To Pay Mortgage Insurance? - 03/18/20 04:41 AM
The value of residential real estate in the United States post "Great Recession" declined significantly. In fact some reports say 70% of residential properties witnessed a value reduction.
Mortgage Insurance and Private Mortgage Insurance:
Mortgage Insurance (MI) or traditional Private Mortgage Insurance (PMI) needs to be paid if you have less than 20% equity in the home. At times lenders require 22% equity before it can be removed. A great strategy to diminish the overall cost of mortgage insurance is to covert your current mortgage to a conventional PMI (from a FHA mortgage). Generally, conventional PMI is affordable when compared to FHA mortgage insurance and … (0 comments)

mortgage: Mortgage Market Index - 02/26/20 02:45 PM
Mortgage rates are near all time lows and one would think applications would be skyrocketing. Well that's not the case according the Mortgage Bankers Association.
The Mortgage Market Index came in at 645.5. Last week the reading came in at 689.5 and the previous week it came in at 682.0. It is somewhat surprising to see applications decline as mortgage rates drop to near all time lows. The Purchase numbers actually increased. It was the refinance numbers that disappointed.
Mortgage Rates:
The biggest driver with the bond market and mortgage rates is the Coronavirus. Simply put, the market is scared; some would even say terrified. As … (0 comments)

mortgage: Asking Questions - 02/17/20 04:13 PM
We don't ask enough of them. It's honestly the best thing you can do when obtaining a mortgage. Refinance or purchase the number one thing you want to do is ask questions when working with an experienced mortgage professional.
What questions should you ask?
Great question! Knowing what to ask is an important part of this so I'll share some questions that I think every homebuyer and homeowner should ask before, during and after they apply for a new mortgage.
The Questions You Should Ask:
I'll break this down into three parts; before you apply for a mortgage, during the loan application process and finally … (1 comments)

mortgage: What Will Mortgage Rates Do? - 02/11/20 03:13 PM
Everyone is asking what will mortgage rates do now that they are at multi-year lows?
Odds are they'll move higher from here. Nothing moves in the same direction forever and this is especially true for consumer mortgage rates. I'm not "predicting" a significant move higher nor do I think that a move higher will be long lasting. After 15+ years of experience as a Loan Officer you come to learn a few things and one them is that mortgage rates tend to bounce higher after a sharp move down. Low mortgage rates are great but they don't last forever.
If you are trying to … (2 comments)

mortgage: No Cost Mortgage Rates - 01/17/20 08:33 AM
We've all heard the the radio advertisements promoting "no cost rates" and most homeowners have wondered; is this really true? And how can blame them, no cost rates seem to good to be true. I'll break down what a no cost rate actually means, how different lenders have different definitions and why it's easier to obtain a no cost rate on a refinance.
What Is A No Cost Rate?
First lets be clear about the most important thing when it comes to no cost mortgage rates: no one is working for free. Everyone is still being compensated. Under a no cost rate loan … (0 comments)

mortgage: Looking Forward - 01/13/20 05:10 PM
Tomorrow is the beginning of four days of fairly important economic reports and we're getting closer to the signing of the Phase One trade deal with China. For the most part the trade deal is "baked into" the bond markets so consumer mortgage rates should not be significantly impacted as we move closer to the signing date. 
The President has said he may begin Phase Two negotiations immediately after the signing of the Trade One Deal or he may wait until after the election.
Mortgage Rates And What To Look For:
Mortgage rates are stable to start the week and fixed mortgage rates remain more attractive … (0 comments)

mortgage: Mortgage Rates January 2020 - 01/06/20 12:23 PM
Mortgage rates in January, 2020 are starting off the month near their recent lows as the Mortgage Backed Securities market and Treasury market improve during this first week of January. Last weeks Chicago PMI report, Consumer Confidence report and ISM Manufacturing report, which were all weaker than expected, really helped start the new month and the new year off on the right foot. Moving forward though we're going to have to see more bond friendly reports to maintain this stability. One thing mortgage rates don't like is volatile markets so ideally we would like to maintain the status quo heading into the BLS … (0 comments)

mortgage: Understanding The Loan Estimate - 01/04/20 02:27 PM
An important disclosure in the home loan process is the Loan Estimate. You should always read all of the disclosures a mortgage company issues but if you have to pick just one then it deffinetly would be the Loan Estimate. This disclosures is issued within three days of a completed Loan Application (per federal regulations). A mortgage company cannot issue a Loan Estimate unless you provide following:
Your legal name The amount of income you receive Your social security number A subject property address An estimate on the value of the subject property A number for the requested loan amount One … (0 comments)

mortgage: Does War Impact Mortgage Rates? - 01/03/20 06:36 AM
It's being reported that the United States killed Iranian military leader Qasem Soleimani in a drone strike yesterday. While pundits focus on the implications of what was done to US interest in the region and the 60,000 Americans who live in the Middle East, I am going to focus on what this means and could mean for those looking to purchase a home and for those looking to refinance a mortgage.
Immediate Impact:
The immediate impact from the rising tensions between the United States and Iran to the bond market is more noticeable than it is to consumer mortgage rates. To be more specific; … (0 comments)

mortgage: Mortgage Update - 01/02/20 09:44 AM
Happy New Year! I hope everyone had a great holiday. 
The Mortgage Backed Securities market looked like it was going to start the day in negative territory however right at the open there was a quick reversal and bonds started to rally. Great way to start off 2020.  FNMA 3.5 coupon is at 102.92, and the FNMA coupon is at 101.52. The 10 year Treasury yield is at 1.88%.
Consumer residential mortgage rates are starting the year at great levels. Provided the Mortgage Backed Securities market remains stable we may see some improvement next week week as mortgage companies start to get back … (0 comments)

mortgage: Mortgage Update - 12/31/19 08:04 AM
It's a quite day in the mortgage industry, bond market closes early along with most lenders. However there still are a few things cover as we wrap up 2019. On the last day of 2019 mortgage rates are stable as the bond market coasts into 2020. The Fannie Mae 3.0 coupon finished the year at 101.41, and the 3.5 coupon finished the year at 102.86. 
Compared to last year these are excellent levels and in the case of the Fannie Mae 3.5 coupon it's finishing the year right at it's best level of 2019. The 10 year yield ended the year at 1.91% which … (0 comments)

mortgage: December 30th Mortgage Rates - 12/30/19 05:41 AM
Mortgage rates for today (December 30th, 2019) are stable as we finish off 2019. As previously discussed we were not expecting much these last few days as most people are focused on other celebrating the new year and being with family and friends. Next week we should start to see applications rise for both refinance and purchase transactions.
The Mortgage Backed Securities market and the 10 year Treasury both opened lower this morning but well within the recent range we've seen. Selling in the European bond market has spilled over into the US bond market.
Chicago PMI:
Later today the Chicago PMI report … (0 comments)

mortgage: The Best Mortgage For You - 12/29/19 01:28 PM
Every person and every family is different which is why we have lots of options for mortgage loans. Just because most people take a 30 year fixed mortgage doesn't mean you have to take a 30 year fixed rate mortgage. And even though your neighbor says Adjustable Rate Mortgages (ARMs) are the worst thing ever; doesn't mean it's true. And even though more than one "finance" guru says you shouldn't take a mortgage loan that has  term longer than 15 years doesn't mean that advice applies to you. 
Are you picking up on the theme?
The fact is that just because one product is bad … (1 comments)

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Kevin O'Connor

Helping Homeowners Achieve Their Dreams.

Riverside, CA

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