home loan: Lock Watch for the Week of 4/15/2019
- 04/14/19 09:14 AM
Lock Watch for the Week of 4/15/2019
Volatility-O-Meter:
Fairly light week of reports that should mean no fireworks. But beware every time you issue such a comment...
Economicalendar (all times are Pacific):
Mon, 4/15: Empire State Mfg Survey (5:30am).
Tues, 4/16: Industrial Production (6:15am), Housing Market Index (7am).
Weds, 4/17: International Trade (5:30am), Beige Book (11am).
Thurs, 4/18: Jobless Claims, Philadelphia Fed Bus. Outlook Survey, Retail Sales (5:30am), Business Inventories (7am) and Fed Balance Sheet (1:30pm).
Fri, 4/19: Housing Starts (5:30am).
10-Year Treasury History
2.56% Market Open
2.51% One Week Ago
2.59% One Month Ago
2.83% One Year Ago
(Need a rate quote for your … (2 comments)
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home loan: ARM vs. Fixed
- 04/07/19 07:52 AM
ARM vs. Fixed
If Stairway to Heaven is the most overplayed song, then the 30-year fixed mortgage has got to be the most overplayed loan option. And like the iconic tune, the 30-year fixed is really great. I mean for most borrowers, it's the clear way to go. No rate changes, 360 equal payments and if you don't refinance, sell the house or kick the bucket first, the loan is fully paid off 30 years down the road. But even if the 30-year fixed is a great and popular option, is it the best option for everyone? We're seeing that more and more … (2 comments)
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home loan: Lock Watch for the Week of 4/8/2019
- 04/05/19 07:03 AM
Lock Watch for the Week of 4/8/2019
Volatility-O-Meter:
Inflation readings and auctions should backdrop an interesting week.
Economicalendar (all times are Pacific):
Mon, 4/8: Factory Orders (7am).
Tues, 4/9: JOLTS (7am), 3-Yr Note Auction (10am).
Weds, 4/10: CPI (5:30am), 10-Yr Note Auction (10am), FOMC Minutes and Treasury Budget (11am).
Thurs, 4/11: Jobless Claims and PPI (5:30am), 30-Yr Bond Auction (10am) and Fed Balance Sheet (1:30pm).
Fri, 4/12: Import and Export Prices (5:30am), Consumer Sentiment (7am).
10-Year Treasury History
2.51% Market Open
2.49% One Week Ago
2.62% One Month Ago
2.78% One Year Ago
(Need a rate quote for your specific scenario? Click anywhere on this link.)
Paying … (1 comments)
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home loan: Is Your Mortgage Lender Requiring Flood Insurance?
- 04/02/19 07:40 AM
Is Your Mortgage Lender Requiring Flood Insurance?
Up until this point, everything was going great. You loved the house, it fit your budget and, by the grace of God, your offer got accepted.
But then it was your mortgage lender, Dasher of Dreams, who let you know that the property sits in a special flood hazard area, and that it will require flood insurance. I know --- this is something that should have been revealed earlier in the process, and most often it is, but this time around, the fact that the property may be susceptible to flooding risk came up late and … (2 comments)
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home loan: Getting a Mortgage on a Vacation Condo in Hawaii
- 03/26/19 06:34 AM
Getting a Mortgage on a Vacation Condo in Hawaii
Now that you've snapped out of your daydreams of swaying palm trees and the enveloping comfort of warm tropical air, you may recall that in a previous blog post I covered the things we need to know when buying a second home in Hawaii, and using a jumbo mortgage in the purchase transaction. But what if, instead, you are looking specifically to buy a condominium to use as a second home? Are there any tips, tricks and general good advice when it comes to getting a home loan to purchase one of these? … (2 comments)
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home loan: Lock Watch for the Week of 4/1/2019
- 03/23/19 07:26 AM
Lock Watch for the Week of 4/1/2019
Volatility-O-Meter:
Full slate of reports this week, capped by employment numbers on Friday. But the bond market may be poised for a correction and higher rates this week. Stay on your toes.
Economicalendar (all times are Pacific):
Mon, 4/1: Retail Sales (5:30am), PMI Mfg Index (6:45am), Business Inventories, ISM Mfg Index, Construction Spending (7am).
Tues, 4/2: Durable Goods Orders (5:30am).
Weds, 4/3: ADP Employment (5:15am), ISM Non-Mfg (7am).
Thurs, 4/4: Jobless Claims (5:30am). Fed Balance Sheet (1:30pm).
Fri, 4/5: Employment Situation (5:30am).
10-Year Treasury History
2.49% Market Open
2.43% One Week Ago
2.76% One Month Ago
2.73% … (0 comments)
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home loan: Lock Watch for the Week of 3/25/2019
- 03/23/19 07:26 AM
Lock Watch for the Week of 3/25/2019
Volatility-O-Meter:
"I don't know where I'm going, but I sure know where I been..." We are in uncharted waters this week and the Fed's statement last week creates a new backdrop for rates. There has been much volatility since the statement and I would expect more still given this week's reports and auctions, but the rate trend is downward, without question.
Economicalendar (all times are Pacific):
Mon, 3/25: Quiet.
Tues, 3/26: Housing Starts (5:30am), Case-Shiller HPI (6am), Consumer Confidence (10am). 2-Yr Note Auction (10am).
Weds, 3/27: International Trade (5:30am). 5-Yr Note Auction (10am).
Thurs, 3/28: GDP and Jobless Claims (5:30am). … (0 comments)
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home loan: Using a Jumbo Mortgage to Buy a Second Home in Hawaii
- 03/17/19 08:14 PM
Using a Jumbo Mortgage to Buy a Second Home in Hawaii
Who, stateside, doesn't at least want to entertain the idea of calling it a long work week, heading to the airport and then a few hours later touching down on one of the Hawaiian islands? What if you're on the cusp of that reality and have decided to buy a second home in Hawaii and need a jumbo mortgage to help you achieve that goal? I am a licensed mortgage loan originator in Hawaii, can help and here's what my clients need to know.
What Is a Second Home?
While any vacation residence … (0 comments)
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home loan: Lock Watch for the Week of 3/18/2019
- 03/16/19 07:34 AM
Lock Watch for the Week of 3/18/2019
Volatility-O-Meter:
All eyes on the Fed this week.
Economicalendar (all times are Pacific):
Mon, 3/18: Housing Market Index (7am).
Tues, 3/19: Factory Orders (7am).
Weds, 3/20: FOMC Meeting (11am).
Thurs, 3/21: Jobless Claims and Philadelphia Fed Business Outlook Survey (5:30am). Fed Balance Sheet (1:30pm).
Fri, 3/22: Existing Home Sales (7am).
10-Year Treasury History
2.60% Market Open
2.64% One Week Ago
2.65% One Month Ago
2.85% One Year Ago
(Need a rate quote for your specific scenario? Click anywhere on this link.)
W.S. Merwin, 1927 - 2019
I had hardly begun to read
I asked how can you ever be sure
that what you … (2 comments)
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home loan: Lock Watch for the Week of 3/11/2019
- 03/09/19 03:10 PM
Lock Watch for the Week of 3/11/2019
Volatility-O-Meter:
A lot of key reports this week and on the heels of the real dud of a jobs number Friday. Could this be an inflection point? We'll see. Oh, and let's not forget auctions too.
Economicalendar (all times are Pacific):
Mon, 3/11: Retail Sales (5:30am), Business Inventories (7am), 3-Yr Note Auction (10am).
Tues, 3/12: CPI (5:30am), 10-Yr Note Auction (10am).
Weds, 3/13: Durable Goods and PPI (5:30am), Construction Spending (7am), 30-Yr Bond Auction (10am).
Thurs, 3/14: Jobless Claims and Import/Export Prices (5:30am), New Home Sales (7am). Fed Balance Sheet (1:30pm).
Fri, 3/15: Empire State Mfg Survey … (1 comments)
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home loan: I Got Another Rate Quote. Can You Beat It?
- 03/03/19 07:27 PM
I Got Another Rate Quote. Can You Beat It?
Talk may be cheap, but money is not. And you can bet your bottom dollar that most consumers seeking to get a mortgage will shop for the best rate quotes through any number of ways; their local bank, the internet, etc. We will often get requests to match or beat rate quotes as a result. Instead of publishing rates and promising that we're the cheapest and best source for all rate shoppers, which is something that is frowned upon by the regulators of our industry, I instead want to shed some light on … (3 comments)
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home loan: Lock Watch for the Week of 3/4/2019
- 03/03/19 02:37 PM
Lock Watch for the Week of 3/4/2019
Volatility-O-Meter:
A healthy slate of reports this week but I'm not sure any of it will break the 15bps range we've held since early January. Employment situation on Friday warrants the most attention.
Economicalendar (all times are Pacific):
Mon, 3/4: Construction Spending (7am).
Tues, 3/5: New Home Sales and ISM Non-Mfg Index (7am).
Weds, 3/6: ADP Employment Report (5:15am), International Trade (5:30am), Beige Book (11am).
Thurs, 3/7: Jobless Claims and Productivity and Costs (5:30am). Fed Balance Sheet (1:30pm).
Fri, 3/8: Employment Situation and Housing Starts (5:30am).
10-Year Treasury History
2.74% Market Open
2.68% One Week Ago
2.73% One … (3 comments)
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home loan: Will My California Property Taxes Go Up if I Refinance?
- 02/28/19 07:25 AM
Will My California Property Taxes Go Up if I Refinance?
I would be willing to bet that each year, good financial benefit gets left on the table by those who want to refinance their mortgages but are afraid that by doing so, they may see their California property taxes go up. Is this concern founded? Can that really happen?
In short, no. California property taxes are not reassessed when a homeowner refinances his or her mortgage. And the simple reason for this is that there is no transfer of title that would trigger the tax basis to be reassessed by the County Assessor. When … (0 comments)
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home loan: Lock Watch for the Week of 2/25/2019
- 02/21/19 08:32 PM
Lock Watch for the Week of 2/25/2019
Volatility-O-Meter:
Auctions, GDP and a lot of Jerome Powell talk that could give insight into 2019 interest rate direction.
Economicalendar (all times are Pacific):
Mon, 2/25: 2-Yr Note Auction (8:30am), 5-Yr Note Auction (10am).
Tues, 2/26: Case-Shiller HPI (6am), Consumer Confidence and Jerome Powell speech (7am), 5-Yr Note Auction (10am).
Weds, 2/27: International Trade in Goods and Factory Orders (5:30am), Jerome Powell speech (7am). Pending Home Sales (7am).
Thurs, 2/28: GDP and Jobless Claims (5:30am). Chicago PMI (6:45am).
Fri, 3/1: Personal Income and Outlays (5:30am), PMI Manufacturing Index (6:45am), ISM Manufacturing Index and Consumer Sentiment (7am).
10-Year Treasury History
2.68% … (0 comments)
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home loan: Lock Watch for the Week of 2/18/2019
- 02/16/19 03:36 PM
Lock Watch for the Week of 2/18/2019
Volatility-O-Meter:
Lots of Fed talk this week but few reports.
Economicalendar (all times are Pacific):
Mon, 2/18: President's Day, markets closed.
Tues, 2/19: Housing Market Index (7am).
Weds, 2/20: FOMC minutes (11am).
Thurs, 2/21: Jobless Claims, Durable Goods, Philadelphia Fed Bus Outlook Survey (5:30am). Existing Home Sales (7am).
Fri, 2/22: Quiet.
10-Year Treasury History
2.67% Friday's Close
2.66% One Week Ago
2.79% One Month Ago
2.88% One Year Ago
(Need a rate quote for your specific scenario? Click anywhere on this link.)
Hell on Wheels: New York City's Subway in the 1970's
A fond childhood memory of mine is riding … (1 comments)
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home loan: Are You a Lender or a Banker or a Broker?
- 02/15/19 03:17 PM
Are You a Lender or a Banker or a Broker?
"So are you a broker or a lender?" "Or a banker or a lender?" "Or a broker/banker?" Yes, yes, and yes!
We get this question all the time, but I think it comes from a good place. Naturally, everybody shopping for a home loan wants to get the best rates and terms and some confusion swirls around how the type of mortgage originator one uses has a bearing on the outcome. So when they work with me, who is really behind the curtain?
[Too lazy to read the rest? Watch the video below instead.]
Banker / … (2 comments)
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home loan: Jumbo Mortgage for the Self-Employed
- 02/10/19 06:09 PM
Jumbo Mortgage for the Self-Employed
One thing of which our industry does a terrible job is promoting a sense of optimism among the self-employed. Whether the one-man-band sole proprietor, or the complex, greater-than-25% owner of a multi-million dollar S-Corp, this long-suffering subset of the borrowing population has traditionally experienced stiff headwind in the mortgage process because the objectives of running one's own business frequently fly in the face of what it takes to qualify for a jumbo mortgage. There are a combination of reasons why this has been the case and we're going to look at those here, along with what the self-employed … (5 comments)
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home loan: Lock Watch for the Week of 2/11/2019
- 02/09/19 06:20 AM
Lock Watch for the Week of 2/11/2019
Volatility-O-Meter:
Amid a backdrop of econonic slowdown abroad, the US kicks off the week quietly but then things ought to heat up. And let's not forget the threat of another government shutdown (Nightmare on Elm St. Part II).
Economicalendar (all times are Pacific):
Mon, 2/11: Quiet.
Tues, 2/12: JOLTS (7am).
Weds, 2/13: CPI (5:30am). Treasury Budget (11am).
Thurs, 2/14: Jobless Claims, PPI, Retail Sales (5:30am). Business Inventories (10am).
Fri, 2/15: Empire State Mfg Survey and Import/Export Prices (5:30am). Consumer Sentiment (7am).
10-Year Treasury History
2.66% Market Open
2.72% One Week Ago
2.71% One Month Ago
2.86% One Year … (1 comments)
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home loan: Time Is of the Essence
- 02/03/19 05:05 PM
Time Is of the Essence
There it is in black and white. Section 29 of the California Association of Realtors' residential purchase agreement. "Time is of the essence." And in real estate transactions, which are inherently complex, this simply means that every day matters. To be competitive as a buyer you need time on your side because very likely the seller of the home in which you're interested knows that the longer things take to get to the closing table, the greater likelihood something might go wrong with the financing you need in order to acquire the home.
"Like what?," you ask.
Perhaps the … (10 comments)
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home loan: Lock Watch for the Week of 2/4/2019
- 02/02/19 07:51 PM
Lock Watch for the Week of 2/4/2019
Volatility-O-Meter:
Compared to last week, there should be relatively few fireworks driven by economic reports. With the backdrop of a Fed perhaps on hold, this week's auctions (3, 10 and 30) could be interesting.
Economicalendar (all times are Pacific):
Mon, 2/4: Factory Orders (7am).
Tues, 2/5: ISM Non-Mfg Index (7am), 3-Yr Note Auction (10am).
Weds, 2/6: International Trade, Productivity and Costs (5:30am). 10-Yr Note Auction (10am).
Thurs, 2/7: Jobless Claims (5:30am). 30-Yr Bond Auction (10am).
Fri, 2/8: Quiet.
10-Year Treasury History
2.72% Market Open
2.74% One Week Ago
2.70% One Month Ago
2.77% One Year Ago
Rachel … (1 comments)
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Lock Watch for the Week of 4/15/2019
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