Is Buying A Home Still a Good Investment?
Updated Oct. 9, 2013
Lately, many of my colleagues and friends have been asking me whether I think buying real estate is still a good investment. While it may seem like renting a property that is easier to get out of, costs less to maintain and is more easily negotiable to get into is a better choice than dealing with selling agents,...

Something You May Not Know About Loan Modifications
Updated Oct. 9, 2013
Recently, we have seen a dramatic increase by almost 30 in the number of homeowners' mortgages that have been permanently modified. Almost 25% of the 1.2 million trial modifications that began over a year ago under the Treasury's Home Affordable Modification Program (also known as HAMP) have now...

Five Mistakes You Shouldn't Make As a First Time Homebuyer
Updated Oct. 9, 2013
Buying a first home can be a daunting experience. Here are five common and costly mistakes that novice home buyers make:1. Ignoring the costs of having a low credit score. Lower-score borrowers pay thousands of dollars in increased interest rates over the life of the loan.2. Muddying the waters by shopping for other...

What The Purchase Offer Contains
Updated Oct. 9, 2013
Lately, I have been getting asked many questions about what it takes to buy a home and how to start the process. So, today, I thought I would write on what exactly an "offer" is comprised of. This year, the California Realtor Association has re-vamped the "offer" form, also know as the "Residential Purchase...

California Homeowners Considering Short Sales: Good News Regarding Tax Liability on Forgiven Debt
Updated Oct. 9, 2013
California state income tax on forgiven debt resulting from a short sale, foreclosure, or loan modification will no longer be imposed on homeowners in California. Senate Bill 401 makes California's tax treatment of mortgage debt relief income the same as federal law. Be advised, however, that only the...

Is Buying Better Than Renting?
Updated Oct. 9, 2013
Is Buying A Home Still a Good Investment? Lately, many of my colleagues and friends have been asking me whether I think buying real estate is still a good investment. While it may seem like renting a property that is easier to get out of, costs less to maintain and is more easily negotiable to get into is a better...

Fed Statement Positive for Mortgage Rates
Updated Oct. 9, 2013
The chance for additional Treasury purchases by the Fed helped mortgage rates improve early this week. Stronger than expected economic growth data trimmed the gains later in the week. The net result was that mortgage rates ended the week a little lower. As expected, the Fed made no change in the fed funds rate at...

Mortgage Rates Little Changed
Updated Oct. 9, 2013
Although daily volatility was high this week, mortgage rates ended the week nearly unchanged. A steady stream of economic news was roughly neutral for mortgage rates, as stronger than expected economic data was offset by solid demand for the week's Treasury auctions. During the week, a series of Fed...

Communication is Key
Updated Oct. 9, 2013
Communication is a word that we often hear but rarely think about. We know it is important and we know we are supposed to do it on a daily basis (like brushing our teeth) but very few of us actually dedicated time and energy to the act of it. Communication becomes particularly important in business relationships,...

What Do Lower Conforming Loan Limits Mean To You?
Updated Oct. 9, 2013
If you're in the market to buy a home, you know what I am talking about. If you're in the market to buy a home and you don't know what I'm talking about - keep reading! It is vital information!. On October 1, 2011, as part of POTUS' attempt to repair the country's housing finance...

Distressed Homeowners : You Must Read This!!!
Updated Oct. 9, 2013
This information is being brought to you directly from the California Attorney General's Website:. SAN FRANCISCO -- Attorney General Kamala D. Harris today announced that the California Department of Justice, in conjunction with the State Bar of California, has sued multiple entities accused of...

The problems in Europe escalated overnight
Updated Oct. 9, 2013
Yesterday 11/08/2011 in Italy, Prime Minister Berlusconi's offer to resign boosted optimism Italy would appoint a new leader who can tame the debt crisis. Europe and U.S. stock markets rallied and interest rates increased on the idea that progress was being made. That all lasted about 20 hours; this morning...

Europe continues to control U.S. markets
Updated Oct. 9, 2013
Yesterday there was a passing thought that Italy's debt problems would deal a serious blow to the country with its interest rates at record highs since the EU began. Yesterday another passing thought that the EU would eventually be restructured based on comments from French Pres Sarkozy that a two tier EU...

Mortgage Market Updates 11-14-2011
Updated Oct. 9, 2013
Treasuries and mortgage markets were closed last Friday for Veteran's Day; the stock market and most other houses were open. The DJIA rallied 259 points, NASDAQ +54 and the S&P +24. Likely had the bond market traded, prices would have been lower. This morning the indexes prior to 9:30 were generally flat...

Market Updates 11-17-2011
Updated Oct. 9, 2013
Before the 8:30 data this morning the 10-Year Note traded at 1.97%, after the 8:30 economic reports the 10-Year Note back to 2.03% at 9:00 am. Weekly jobless claims were down 5K to 388K last week, estimates were for an increase of 5K to 10K. Weekly claims last week were revised to 393K frm 390K originally reported. The...

Market Update for Friday 11-18-2011
Updated Oct. 9, 2013
Interest rates started a little higher this morning but are holding well after the 10-Year Note closed at 1.97% yesterday. Early this morning the 10-Year Note traded at 2.03% at 7:30am, but by 9:00am it fell back to 1.99%. mortgage prices a little lower in line with the 10-Year Note price decline; stock indexes were...

Market Update Monday 11-21-2011
Updated Oct. 9, 2013
Treasury rates a little lower this with the stock market opening weaker. That the Super Committee has failed to reach any compromise is driving markets this morning. The bond and mortgage markets should hold through the week but unlikely to decline in rates much. It will be a short week with Thanksgiving on...

Market Updates for Tuesday 11-22-2011
Updated Oct. 9, 2013
Prior to 8:30 the bond and mortgage markets were slightly weaker in price with stock indexes better. At 8:30 more not so good news, the Q3 preliminary GDP data was weaker than expected and weaker than last month's advance report. Q3 GDP was revised from +2.5% to +2.0% with forecasts of +2.3% to +2.5%; consumer...

Market Update for Wednesday 11-23-2011
Updated Oct. 9, 2013
Three economic reports this morning at 8:30; Weekly Jobless Claims were up 2K to 393K, last week's claims were revised to 391K frm 388K, continuing claims were up 68K to 3.691 mil. Overall claims were about as expected. October Personal Income was expected up 0.3%, it increased +0.4% the highest since March;...

Market Update for Monday 11-28-2011
Updated Oct. 9, 2013
Markets had a shortened day on Friday, normally not likely to make huge moves but the bond market saw selling on increased optimism that Europe is on the path to coming up with a "plan". More likely Treasury prices fell on increasing optimism that Holiday shopping would exceed estimates that were saying sales...