interest: Form 1098 and Your Mortgage Interest Statement - 01/09/20 08:46 PM
Form 1098 and Your Mortgage Interest Statement
 
"At first you go bankrupt slowly, and then all at once."  This quote has been attributed to Ernest Hemingway, Mark Twain and even F. Scott Fitzgerald.  Indeed, it's a great one, though fortunately I cannot personally attest to its veracity.  Nevertheless, it does touch on a concept I want to cover at a particular time of year --- from about mid-January to the end of February.  It is during these weeks that most of us gradually give up our moorings to the previous year and then suddenly realize that we need to start planning to file … (1 comments)

interest: Should I Refinance into a 15-Year Fixed Rate Mortgage? - 08/03/19 07:46 AM
Should I Refinance into a 15-Year Fixed Rate Mortgage?
 
With the Federal Reserve tongue-tied and twisted and an easy trade war time-tripping into the future, we find ourselves the beneficiaries of another very appealing low interest rate environment here in the second half of 2019.  This stands to benefit many who have mortgages at higher rates and even some who may not fit that exact bill, but who are focused primarily on reducing the term of their loan and perhaps paying their entire balance off at a faster rate.  We are seeing a number of homeowners who are seeking to determine if … (12 comments)

interest: 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)

interest: 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)

interest: Lock Watch for the Week of 11/5/2018 - 11/04/18 07:04 PM
Lock Watch for the Week of 11/5/2018
 
Volatility-O-Meter:
I expect the markets to flirt with the reality of higher rates again this week, amid a backdrop of auctions and Tuesday's mid-term elections.
 
Economicalendar (all times are Pacific):
Mon, 11/5:      ISM Non-Mfg Index (7am), 3-Yr Note Auction (10am).
Tues, 11/6:      JOLTS (7am), 10-Yr Note Auction (10am).
Weds, 11/7:     30-Yr Bond Auction (10am).
Thurs, 11/8:    Jobless Claims (5:30am) and FOMC Meeting Announcement (11am).
Fri, 11/9:        PPI (5:30am).
 
10-Year Treasury History
3.19%     Today's Open
3.09%     One Week Ago
3.23%     One Month Ago
2.32%     One Year Ago
 
Lincoln's Second Inaugural Address
 
Fellow-Countrymen:
 
At this second appearing to take the oath … (0 comments)

interest: Lock Watch for the Week of 9/17/2018 - 09/16/18 07:55 PM
Lock Watch for the Week of 9/17/2018
 
Volatility-O-Meter:
I feel as though something tipped last week.  No matter what the reports showed, the bond market wanted to move higher and rates increased as a result.  It is unclear what will break this trend and certainly this week's news doesn't seem to have that capacity.  In addition to what's below, be mindful of a new round of tariffs on China...
 
Economicalendar (all times are Pacific):
Mon, 9/17:       Empire State Mfg Survey (5:30am).
Tues, 9/18:       Housing Market Index (7am).   
Weds, 9/19:     Housing Starts (5:30am).  
Thurs, 9/20:    Jobless Claims, Philadelphia Fed Bus Outlook Survey and … (0 comments)

interest: Lock Watch for the Week of 8/6/2018 - 08/04/18 01:16 PM
Lock Watch for the Week of 8/6/2018
 
Volatility-O-Meter:
Dog days of summer...aside from auctions mid-week and inflation readings at the end.
 
Economicalendar (all times are Pacific):
Mon, 8/6:       Quiet. 
Tues, 8/7:       JOLTS (7am) and 3-Yr Note Auction (10am).   
Weds, 8/8:     10-Yr Note Auction (10am).   
Thurs, 8/9:    Jobless Claims and PPI (5:30am).  30-Yr Bond Auction (10am).   
Fri, 8/10:        CPI (5:30am).
 
10-Year Treasury History
2.93%     Today's Open
2.98%     One Week Ago
2.82%     One Month Ago
2.26%     One Year Ago
 
The Far Side
On a whim, and to the creator's surprise, the San Francisco Chronicle picked up and syndicated a little-known cartoon called Nature's Way and began running … (0 comments)

interest: 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)

interest: 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)

interest: Lock Watch for the Week of 3/12/2018 - 03/12/18 08:47 AM
Lock Watch for the Week of 3/12/2018
 
Volatility-O-Meter:  
High. A lot of reports this week and all against an ever-changing political situation.  
 
Economicalendar (all times are Pacific):
Mon, 3/12:       3-Year Note Auction (8:30am), 10-Year Note Auction (10am).
Tues, 3/13:       Consumer Price Index (5:30am), 30-Year Bond Auction (10am).
Weds, 3/14:     PPI and Retail Sales (5:30am).
Thurs, 3/15:    Jobless Claims, Philadelphia Fed Biz Outlook, Empire State Mfg Survey and Import and Export Prices (5:30am).
Fri, 3/16:         Housing Starts (5:30am), Industrial Production (6:15am), Consumer Sentiment and JOLTS (7am).
 
10-Year Treasury History
2.88%     Today
2.84%     One Week Ago
2.86%     One Month Ago
2.62%     One Year Ago
 
"Rage to Master"
As the father … (1 comments)

interest: Never Mind the Tax Cuts and Jobs Act, Here's the Homebuyers - 01/21/18 05:17 PM
Never Mind the Tax Cuts and Jobs Act, Here's the Homebuyers
 
Side One:
Mortgage Interest Deduction:  Reduced from $1MM to $750K. Grandfather:  If you have a loan that was originated before 12/15/2017, and your mortgage balance exceeds $750K, you are still able to deduct the interest up to $1MM.  You're grandfathered in, unless... Don't Fear the Refi:  If you refinance a mortgage with a balance above $750K and your loan was originated before 12/15/17 AND via the refi the loan balance does not increase, you will "carry over" your $1MM cap. HELOC'd and Unloaded:  The mortgage interest deduction on home equity lines of … (3 comments)

interest: Taking or Shoving a Job? Call Me First - 07/11/17 07:01 AM
Taking or Shoving a Job?  Call Me First
 
The "me" in this title is figurative, of course, and the concept we're going to cover is broad in scope.  And no, I really don't want to hear about your new job and its benefits; the free hot yoga classes and unlimited fair trade organic tea and gluten-free snack bar.  But the concept I do wish to cover has relevance in many other areas of our lives and, hopefully, what I'm about to say will help a homeowner or home buyer save an otherwise strong mortgage application from an unsuspecting, unexpected and undesired demise somewhere down … (4 comments)

interest: My Commencement Speech to the Class of 2014 - 2017 - 04/30/14 08:10 AM
My Commencement Speech to the Class of 2014 - 2017
 
Good morning students, family, friends and faculty,   It is my honor to be here on this fine day, to see you off on your adventure into the mortgage future.  When you arrived at the Institution of Home Ownership in 2004 through 2007, recall how you marveled at the expanse of loan programs before you, and the ends you would achieve through them.     I remember vividly how at first you shuddered under the sheer volume of terminology and options --- interest-only, Alt-A, LIBOR, hybrid ARM, index, margin and caps. … (3 comments)

interest: See Spinosa Sell the Seller Credit by the Sea Shore - 11/10/12 01:25 AM
 
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interest: Union Bank of California's Portfolio Express Refinance - 04/30/12 03:22 AM
 
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interest: Mortgage Types, Payment and Calculations - 03/16/12 04:22 AM
 
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interest: California Mortgage Rate Update: 02/27/12 - 02/27/12 01:35 AM
 
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interest: California Mortgage Rate Update: 02/21/12 - 02/21/12 04:26 AM
 
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interest: California Mortgage Rate Update: 01/23/12 - 01/23/12 08:43 AM
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interest: California Mortgage Rate Update: 01/17/12 - 01/17/12 09:10 AM
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Rob Spinosa, SVP of Mortgage Lending, Marin County (Guaranteed Rate, Marin County, CA)

Rob Spinosa

SVP 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

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80-10-10 Loans

What Happens if My Appraisal Comes in Low?

Can I Get a Cosigner on a Mortgage?



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