expert: Lock Watch for the Week of 1/21/2019 - 01/21/19 08:10 AM
Lock Watch for the Week of 1/21/2019
 
Volatility-O-Meter:
A short week and an ongoing shutdown might test the defenses of the mortgage market...
 
Economicalendar (all times are Pacific):
Mon, 1/14:      Markets Closed.
Tues, 1/15:     Existing Home Sales (7am).
Weds, 1/16:     Quiet.
Thurs, 1/17:    Jobless Claims (5:30am), PMI Composite Flash (6:45am), Fed Balance Sheet (1:30pm).
Fri, 1/18:        Durable Goods (5:30am) and New Home Sales (7am).
 
10-Year Treasury History
2.78%     Friday's Close
2.69%     One Week Ago
2.91%     One Month Ago
2.54%     One Year Ago
 
Battery Townsley
I know, I know. When you tell people you live near San Francisco and ask them to recall the city's history, … (2 comments)

expert: Lock Watch for the Week of 11/19/2018 - 11/17/18 08:39 AM
Lock Watch for the Week of 11/19/2018
 
Volatility-O-Meter:
Wednesday is a real market day but otherwise the week is light, even if the meals will be heavy...
 
Economicalendar (all times are Pacific):
Mon, 11/19:      Housing Market Index (7am).
Tues, 11/20:      Housing Starts (5:30am).
Weds, 11/21:     Jobless Claims and Durable Goods (5:30am), Consumer Sentiment and Existing Home Sales (7am).
Thurs, 11/22:    Thanksgiving.
Fri, 11/23:        PMI Composite Flash (6:45am), Fed Balance Sheet (1:45pm).
 
10-Year Treasury History
3.07%     Today's Open 
3.19%     One Week Ago
3.19%     One Month Ago
2.37%     One Year Ago
 
Yesterday When I Was Young
Even though there should have been no rightful way for … (0 comments)

expert: Lock Watch for the Week of 10/29/2018 - 10/22/18 10:12 PM
Lock Watch for the Week of 10/29/2018
 
Volatility-O-Meter:
Big week of reports against a backdrop of a market in serious motion and on the eve of a pivotal election.  Fasten your seatbelts...
 
Economicalendar (all times are Pacific):
Mon, 10/29:       Personal Income and Outlays (5:30am) and Dallas Fed Mfg Survey (7:30am).
Tues, 10/30:      Case-Shiller Home Price Index (6am) and Consumer Confidence (7am).
Weds, 10/31:     ADP Employment (5:15am) and Chicago PMI (6:45am).
Thurs, 11/1:    Productivity Costs and Jobless Claims (5:30am), PMI Mfg Index (6:45am), ISM Mfg Index (7am) and Construction Spending (7am).
Fri, 11/2:        Employment Situation and International Trade (5:30am) and Factory Orders … (6 comments)

expert: Lock Watch for the Week of 8/27/2018 - 08/26/18 04:25 PM
Lock Watch for the Week of 8/27/2018
 
Volatility-O-Meter:
We're getting back to business this week with auctions, GDP and enough other reports to keep things interesting.
 
Economicalendar (all times are Pacific):
Mon, 8/27:       2-Yr Note Auction (10am). 
Tues, 8/28:       International  Trade in Goods (5:30am), Cash-Shiller HPI (6am), Consumer Confidence (7am), 5-Yr Note Auction (10am).   
Weds, 8/29:     GDP (5:30am), 7-Yr Note Auction (10am).   
Thurs, 8/30:    Jobless Claims and Personal Income and Outlays (5:30am).     
Fri, 8/31:        Chicago PMI (6:45am) and Consumer Sentiment (7am).
 
10-Year Treasury History
2.84%     Today's Open
2.84%     One Week Ago
2.96%     One Month Ago
2.16%     One … (0 comments)

expert: Mortgage 911: A Financial First Responder Takes You on Call - 08/07/18 07:31 AM
Mortgage 911:  A Financial First Responder Takes You on Call
  
It must have been around 6:30pm when the call crackled in.  By the tone of the voice on the other end of the line  I could tell "the crash" had happened some time prior, but now panic and shock had officially set in and the victim/borrower was not able to speak any longer.  From the scene, the Good Samaritan/Realtor dialed the equivalent of Mortgage 911.  The breath on the other end of the line was heavy and rushed.
 
Realtor John:  "Rob, we haven't worked together before but you were referred by my broker...I just had … (14 comments)

expert: Three Ways to Get a Great Jumbo Loan for Under $20 - 07/28/18 02:48 PM
Three Ways to Get a Great Jumbo Loan for Under $20
  
I think I've made it clear before that I find no shame in talking about how hard we work for our clients.  My assistant, Debbie, and I see a good number of mortgage applications come across our desks every week and in 2018, 60% of them have been for jumbo home loans, which means that our borrowers must demonstrate strong credit depth by way of an adequate number of tradelines on their credit report.  Gone are the days when one could just have a decent FICO score in order to cross … (3 comments)

expert: How to Get a Jumbo Mortgage After Foreclosure Fallout - 07/16/18 09:26 PM
How to Get a Jumbo Mortgage After Foreclosure Fallout
  
When economic war ravaged the real estate market a decade ago, statistics show that peak foreclosure activity in the US occurred somewhere in 2010, but that we continued to experience an elevated level through at least 2013.  Therefore, at the tail end of the real estate recession, those who lost their homes to foreclosure may still be only five or six years, if not less, from the credit event that largely determines their fate when they try to re-enter the housing market. Can they do it? What about if they need a jumbo mortgage?
 
What … (2 comments)

expert: I'm from the IRS and I'm Here to Help... - 07/06/18 12:25 PM
I'm from the IRS and I'm Here to Help...
  
Yes, that's right.  The Internal Revenue Service wants to ride in like a knight in shining armor and help some of you close your home loans.  Will you be the lucky beneficiary?  Let's take a look at what, on the surface, seems to be "mission impossible."  The IRS is only there to impede, to take from us and to delay, right?  Not always.
 
From time to time, there are situations where a borrower is in the mortgage process and has both the down payment requirement and a Federal tax obligation.  And, as you might … (22 comments)

expert: Lock Watch for the Week of 7/9/2018 - 07/06/18 12:00 PM
Lock Watch for the Week of 7/9/2018
 
Volatility-O-Meter:
Inflation readings mid-week and, I don't know about you, but I see trade tension escalating...
 
Economicalendar (all times are Pacific):
Mon, 7/9:       Quiet. 
Tues, 7/10:       JOLTS (7am) and 3-Year Note auction (10am).   
Weds, 7/11:     PPI (5:30am) and 10-Year Note auction (10am).   
Thurs, 7/12:    CPI and Jobless Claims (5:30am) and 30-Year Bond auction (10am).   
Fri, 7/13:        Import and Export Prices (5:30am) and Consumer Sentiment (7am).
 
10-Year Treasury History
2.86%     Today's Open
2.85%     One Week Ago
2.93%     One Month Ago
2.38%     One Year Ago
 
Vietnam Veterans Memorial
Me:  "Man, he was 20 years-old when he … (1 comments)

expert: Can You Use Foreign Currency to Get a Mortgage? - 07/05/18 07:57 AM
Can You Use Foreign Currency to Get a Mortgage?
  
Is your down payment coming from abroad?
 
Do you have a foreign bank account that you’re showing on your mortgage application?
 
Are you obtaining a gift from a family member in another country?
 
These are all questions that might come up when we’re working with our clients who may be employed by a foreign company or who may be permanent residents (green card holders) or non-permanent resident aliens of the United States. The question really becomes, “Can I use a foreign currency to qualify for a mortgage?” We’ll look at some of the … (2 comments)

expert: Lock Watch for the Week of 6/11/2018 - 06/10/18 06:12 PM
Lock Watch for the Week of 6/11/2018
 
Volatility-O-Meter:
This week could go nuclear, no pun intended.  The week will start with the world making sense of what happened at G7, then figure out what will happen with North Korea, then watch the Fed raise rates, all the while with a backdrop of shifting sands in Europe.
 
Economicalendar (all times are Pacific):
Mon, 6/11:       3-Yr Note Auction (8:30am) and 10-Yr Note Auction (10am). 
Tues, 6/12:       CPI (5:30am) and 30-Yr Bond Auction (10am).   
Weds, 6/13:     PPI (5:30am) and FOMC Meeting Announcement (11am).
Thurs, 6/14:    Jobless Claims, Retail Sales and Import/Export Prices (5:30am).   
Fri, 6/15:        … (5 comments)

expert: Ch, Ch, Ch, Changes to C, C, C, Condos - 06/10/18 04:14 PM
Ch, Ch, Ch, Changes to C, C, C, Condos
 
At various times over the last 10 years, getting a mortgage on a condominium in California could have been quite the challenge for a homebuyer.  However, some changes that will go into effect at the end of June, 2018, will reflect Fannie Mae's (FNMA) increased flexibility and sensibility with lending on condo, co-op and planned unit development (PUD) projects.  We're going to focus here just on the condo part and explain the key elements that should make it a bit easier for some buyers in the months ahead.
 
Single-Entity Ownership
Single-entity ownership poses a risk … (22 comments)

expert: 10% Down Jumbo Mortgage with No PMI - 05/27/18 08:28 PM
10% Down Jumbo Mortgage with No PMI
 
With the Federal Reserve Open Market Committee poised in June of 2018 to increase in the rates that impact home equity lines of credit ("HELOCs"), home buyers who have traditionally used "piggyback" or "80-10-10" solutions to purchase a home with less than a 20% down payment may have second thoughts.  Not about buying the house, per se, but about a HELOC rate that could approach 7% --- with future adjustments possible as well.  When Prime Rate was in the mid-3% range, most 80/10/10 loans had very palatable start rates but after a decade of seeing … (1 comments)

expert: Lock Watch for the Week of 5/28/2018 - 05/25/18 07:20 AM
Lock Watch for the Week of 5/28/2018
 
Volatility-O-Meter:
Last week saw some reprieve from the persistent selling and this week's GDP and jobs numbers could either counter or build the trend. 
Today, however, a special thank you to all those who have served our country. 
 
Economicalendar (all times are Pacific):
Mon, 5/28:       Memorial Day (markets closed). 
Tues, 5/29:       Consumer Confidence (7am). 
Weds, 5/30:     GDP and International Trade in Goods (5:30am).
Thurs, 5/31:    Jobless Claims and Personal Income and Outlays (5:30am).   
Fri, 6/1:        Employment Situation (5:30am) and ISM Manufacturing Index (7am).
 
10-Year Treasury History
2.93%     (Friday, 5/25)
3.07%     One Week Ago
2.96%     One Month … (11 comments)

expert: Lock Watch for the Week of 5/21/2018 - 05/20/18 07:50 AM
Lock Watch for the Week of 5/21/2018
 
Volatility-O-Meter:
"The beatings will continue until morale improves."
 
Economicalendar (all times are Pacific):
Mon, 5/21:       Quiet. 
Tues, 5/22:       Richmond Fed Mfg Index (7am).  2-Yr Note Auction (10am). 
Weds, 5/23:     PMI Composite Flash (6:45am) and New Home Sales (7am).  5-Yr Note Auction (10am).  FOMC Minutes (11am).
Thurs, 5/24:    Jobless Claims and Existing Home Sales (7am).  7-Yr Note Auction (10am).   
Fri, 5/25:        Durable Goods (5:30am) and Consumer Sentiment (7am).
 
10-Year Treasury History
3.07%     Today
2.99%     One Week Ago
2.96%     One Month Ago
2.25%     One Year Ago
 
Liberace
Pop culture can be especially cruel in retrospect, and I think … (0 comments)

expert: Lock Watch for the Week of 5/14/2018 - 05/13/18 07:38 AM
Lock Watch for the Week of 5/14/2018
 
Volatility-O-Meter:
Relatively quiet week aside from a lot of Fed member speeches, but I am going to put oil prices on the radar too.  Heightened Middle East tension could spill over, through oil, into stock and bond markets.
 
Economicalendar (all times are Pacific):
Mon, 5/14:       Quiet. 
Tues, 5/15:       Retail Sales and Empire State Mfg Survey (5:30am) and Housing Market Index (7am).
Weds, 5/16:     Housing Starts (5:30am) and Industrial Production (6:15am)
Thurs, 5/17:    Jobless Claims and Philadelphia Fed Business Outlook Survey (5:30am).  
Fri, 5/18:        Quiet.
 
10-Year Treasury History
2.99%     Today
2.95%     One Week Ago
2.82%     One Month Ago
2.34%     One … (5 comments)

expert: Lock Watch for the Week of 4/9/2018 - 04/08/18 08:01 AM
Lock Watch for the Week of 4/9/2018
 
Volatility-O-Meter:
Sticking with "High."  We have a volatile stock market driven by fears of a trade war.  We have Facebook's CEO in front of Congress and we have potential military action in Syria.  Add that to auctions, PPI and CPI and it's enough for a thrill or two.
 
Economicalendar (all times are Pacific):
Mon, 4/9:       Quiet.
Tues, 4/10:       PPI (5:30am).  3-Yr Note Auction (10am).
Weds, 4/11:     CPI (5:30am).  10-Yr Note Auction (10am). 
Thurs, 4/12:    Jobless Claims and Import and Export Prices (5:30am). 30-Yr Bond Auction (10am)
Fri, 4/13:        Consumer Sentiment and JOLTS (7am).
 
10-Year Treasury History
2.81%  … (1 comments)

expert: Lock Watch for the Week of 3/19/2018 - 03/18/18 09:16 PM
Lock Watch for the Week of 3/19/2018
 
Volatility-O-Meter:  
Mid-to-high. Fed meeting this week, but universal expectation of .25% rate increase).  Not a whole lot of reports otherwise, but Washington chaos is always possible as well. 
 
Economicalendar (all times are Pacific):
Mon, 3/19:       Quiet.
Tues, 3/20:       Quiet.
Weds, 3/21:     Existing home sales (7am) and FOMC Announcement (11am).
Thurs, 3/22:    Jobless Claims (5:30am) and PMI Composite Flash (6:45am).
Fri, 3/23:         Durable Goods (5:30am).
 
10-Year Treasury History
2.87%     Today
2.88%     One Week Ago
2.88%     One Month Ago
2.47%     One Year Ago
 
Aerial Boundaries
Michael Hedges was an acoustic guitarist who, back in the early '80's, released two … (3 comments)

expert: 1031 Exchange Jumbo Mortgage - 03/13/18 08:17 AM
1031 Exchange Jumbo Mortgage
 
If, indeed, there are two certainties in life, death and taxes, then real estate investors just might have found their Juan Ponce de Leon in the 1031 exchange, which allows them to defer capital gains taxes on the sale of a rental property so long as they reinvest the proceeds in a "like-kind" purchase.  Spared the death of writing a large check to the IRS, they can find the fountain of youth in a new investment --- always with the proceeds of the previous sale and sometimes with the addition of a new jumbo mortgage.  Since our fabled 1031 … (1 comments)

expert: Lock Watch for the Week of 3/5/2018 - 03/03/18 09:28 PM
Lock Watch for the Week of 3/5/2018
 
Volatility-O-Meter:  
High.  No surprise here.  There are enough reports below to make things interesting even if trade wars weren't so easy to win.  
 
Economicalendar (all times are Pacific):
Mon, 3/5:       ISM Non-Mfg Index (7am).
Tues, 3/6:       Factory Orders (7am.
Weds, 3/7:     ADP Employment (5:15am), International Trade (5:30am) and Productivity and Costs (5:30am).
Thurs, 3/8:    Jobless Claims (5:30am).
Fri, 3/9:         Employment Situation (5:30am).
 
10-Year Treasury History
2.84%     Today
2.86%     One Week Ago
2.77%     One Month Ago
2.49%     One Year Ago
 
 
Fraunces Tavern
In December of 1783, George Washington bid his troops farewell at the Fraunces Tavern in lower … (1 comments)

 
Rob Spinosa, Vice President of Mortgage Lending, Marin County (Guaranteed Rate, Marin County, CA) Rainmaker large

Rob Spinosa

Vice President of Mortgage Lending, Marin County

San Anselmo, CA

More about me…

Guaranteed Rate, Marin County, CA

Address: 324 Sir Francis Drake Blvd., San Anselmo, CA, 94960

Office: (415) 367-5959

Mobile: (415) 367-5959

Email Me

REX Homebuyer Participating Lender 80-10-10 Loans What Happens if My Appraisal Comes in Low? Can I Get a Cosigner on a Mortgage?


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