san diego mortgage lending: 2 BR 2 BA Oceanfront Luxury Condo in La Jolla, CA 92037 - 04/07/11 03:20 PM
2 BR 2 BA Oceanfront Luxury Condo in La Jolla, CA 92037
2 BR 2 BA Oceanfront Luxury Condo in La Jolla, CA 92037.  White water ocean views and ocean sounds from this magnificently reconstructed property on one of La Jolla's most famous streets. 87 steps to the sand from the front door, this new, open floor plan with huge patio suits indoor/outdoor living. Single-level construction, two Master Bedrooms with baths; one with balcony. Sweeping ocean views in living room, dining area and magnificent kitchen. No expense spared for owner, who has not occupied since construction was completed and will not.  … (5 comments)

san diego mortgage lending: Mortgage Market Snapshot & Rate Lock Advice for Tuesday 4-27-2010 - 04/27/10 04:51 AM
Update: The concerns over Greece and other European nations just won't go away . . Standard & Poors downgraded Greece's debt rating to junk and that is sinking stocks and causing a major rally in bonds. Not good for the world economic picture but very good for interest rates . . FLOAT
Here is today's Market Snapshot from RateAlert.com:
Treasuries and mortgages opened strong this morning as the debt concerns spread in Europe. It is Greece leading the problem but as each day passes with nothing accomplished the contagion is spreading to include Portugal, Spain and likely will include Ireland in … (1 comments)

san diego mortgage lending: Mortgage Market Snapshot & Rate Lock Advice for Tuesday 4-20-2010 - 04/20/10 04:49 AM
Update - MBS Market starting to sell off in mid-day trading again today.  Alert to LOCK!
Here is today's Mortgage Market Snapshop from RateAlert.com:
Treasuries and mortgages opened soft this morning but by 9:00 the 10 yr and mortgage prices climbed back to unchanged. There is no economic data to deal with today, most of the chatter remains about G/S and the SEC fraud charges filed against them. This morning comments from G/S legal counsel. "We would never intentionally mislead anyone, certainly not our clients or our counterparties," Goldman Sachs Co- General Counsel Greg Palm said today on a conference call with … (0 comments)

san diego mortgage lending: Mortagage Market Snapshot & Rate Lock advice for Monday 4-19-2010 - 04/19/10 05:03 AM
Update - Last week was a good week for shoppers of San Diego mortgage rates, California mortgage rates and mortgage rates all over.  Friday's news of the Goldman Sachs indicment sent investors running for the safety of bonds.  The bond market continues to perform well this morning but we are off the highs of the day and up against some tough resistance.  Floating very carefully for now but with a quick finger on the lock trigger.
Here is today's market snapshot from RateAlert.com:
Friday the bond and mortgage markets were driven lower in yields on the announcement from the SEC that … (0 comments)

san diego mortgage lending: Mortgage Market Snapshot & Rate Lock Advice for Friday 4-16-2010 - 04/16/10 05:32 AM
Update - The MBS Market is presently having a nice rally predicated by the breaking news that the SEC is charging Goldman Sachs with fraud in relation to subprime mortgages.  Our benchmark FNMA 4.5% coupon is currently up 28 bps and has broken resistance of the 25 day moving average - lenders will be re-pricing for the better soon so we are in FLOAT mode for now.
Here is today's Mortgage Market Snapshot from RateAlert.com:

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san diego mortgage lending: Mortgage Market Snapshot & Rate Lock Advice for Thursday 4-15-2010 - 04/15/10 05:29 AM
Update: The MBS Market is currently positive, up 16bps.  Many lenders are re-pricing for the better.  My strategy would be to carefully wait for your lender to re-price and then lock as market conditions (as we saw yesterday) are very volatile and things could turn south quickly.
Here is today's Mortgage Market Snapshot from RateAlert.com:
Treasuries and mortgages were slightly better prior to 8:30 this morning but data at 8:30 pulled treasuries and mortgages back to unchanged. Weekly jobless claims were substantially higher than estimates which were for a decline of 20K filings, as reported claims increased 24K to 484K, the … (0 comments)

san diego mortgage lending: Bank of America Reports a Surge in San Diego & Riverside County Foreclosures - 04/14/10 06:46 AM
"We have reported recently that we anticipate a rise in foreclosure activity through the coming months as homeowners are unable to qualify for loan modifications, fall out of modification programs or go into delinquency due to the ongoing stress in the economy," wrote Bank of America spokesman Richard Simon in an email.
The complete article:
http://www.nctimes.com/business/article_fa8b8a2a-0fc6-526a-b125-d86bec3d79c4.html
 
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san diego mortgage lending: Mortgage Market Snapshot & Rate Lock Advice for Wednesday 4-14-2010 - 04/14/10 05:17 AM
Update: A positive report on inflation has turned the MBS Market positive but the market still can't seem to break through multi layers of resistance.  We can very carefully float for the moment as if the resistance can be broken we will likely see lender price improvements.
Here is today's Mortgage Market Snapshot from RateAlert.com:

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Steve McCoole (Mortgage Alliance Group - San Diego, CA - NMLS#305667)

Steve McCoole

San Diego, CA

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