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Real Estate Finance
FHA Loans are Back Again
March 31st, 2008 categories: Real Estate Finance
In the last several years, conventional financing has been phenomenal. Rates have been low and guidelines have been so flexible that for someone with a good FIFO score, stable income, and a little savings, FHA loans could not compete. In recent years, FHA loans were reserved for people who simply didn’t make the cut on cheaper, conventional financing.
| Discussion: 2 Comments »
New Conforming Loan Limits are In
March 20th, 2008 categories: Real Estate Finance
As of April 1st, most lenders will be honoring the new Fannie Mae/Freddie Mac limits. Several lenders are already recognizing the new limits. For borrowers who are ready to purchase or refinance, there is the opportunity to lock in an interest rate and program ahead of the April 1st deadline.
| Discussion: No Comments »
Federal Reserve Injects $200 Billion of Liquidity into Market - New Conforming Limits Being Honored
March 11th, 2008 categories: Real Estate Finance, Real Estate News
It has been a wild ride for Mortgage Bonds lately. Today, the Fed announced a new lending instrument for banks, one that allows for Mortgage Backed Securities to be used as collateral, in an effort to infuse the tight credit markets with $200 billion dollars of liquidity.
| Discussion: No Comments »
What the Conforming Loan Limit Increased to
March 10th, 2008 categories: Real Estate Finance, Real Estate News
In an effort to help those in need(read: anyone who bought their home in the last 3 years), President Bush’s Stimulus Package has just increased California’s conforming loan limit to $697,500! Up from $417,000, this increase will help buyers tremendously. Allowing borrowers to pay 1% less in interest rates, today’s home buyer is in the best possible situation. San Diego real estate has not been this attainable in quite some time and people are taking advantage of this while they can.
| Discussion: No Comments »
When will the New Fannie Mae/Freddie Mac Conforming Limits be Announced?
March 4th, 2008 categories: Real Estate Finance, Real Estate News
This is the central question that I and most in my industry spend a lot of time responding to these days. President Bush signed the Stimulus Package into law on Wednesday, February 13th, 2008–almost three weeks ago. And yet, no new limits have been announced as of yet.
We do know that the Stimulus Package recommends increasing the conforming limits in select metro areas to 125% of medial home price. Depending on whether or not the North County is included, most agree that the new conforming limit for San Diego County should be the maximum allowable limit of $729,750 or somewhere near.
| Discussion: No Comments »
Conforming Loan Limits Will Most Likely Increase This Week
February 12th, 2008 categories: Real Estate Finance, Real Estate News
Late last Thursday, the Economic Stimulus Package was finally approved by the Senate. Now the bill is back on Bush’s desk. He is expected to sign it on Wednesday in hopes that it will help the housing market get back on track.
As part of the package, H.R. 5140 provides a new provision to temporarily raise the limits for loans that may be purchased by Fannie Mae and Freddie Mac through December 31, 2008.
| Discussion: 1 Comment »
The Feds Lower Rates 3/4 of a Percent!
January 23rd, 2008 categories: Real Estate Finance
Wow, what a ride! While we were enjoying our Martin Luther King Holiday, Asian and European markets were in a free fall. It turns out that yes, the U.S. economy is still the world’s leading economy. The old adage “when the U.S. sneezes, the world catches a cold” seems to hold true. While some European and Asian countries seemed confident that they were finally independent of our economy, it turns out that with the U.S. flirting with a major recession, their economies suffered right along with ours.
| Discussion: 2 Comments »
Take Advantage of Low Interest Rates Without Getting Caught in the Weeds
January 9th, 2008 categories: Real Estate Finance
Happy New Year! We kick off the first full week of the New Year, only to see interest rates drop to the lowest levels in weeks. There is new vigor in the market place. Phones are ringing, people are busy and many buyers feel that now is the time to buy.
Many are predicting real estate to finally settle at the “bottom” point in 2008. With interest rates this low, people who have been waiting on the sidelines for the “right time to buy” are now getting into the market.
| Discussion: No Comments »
Wow! What a ride–the Term Auction Facility Program
December 13th, 2007 categories: Real Estate Finance, Real Estate News
We’re up, we’re down…are we up or are we down? The last two days have offered quite a wild ride in the markets.
At the Federal Open Market Committee (FOMC), the Feds announced a 0.25% reduction on both the Discount Rate and the Fed Fund Rate. Traders were anticipating a 0.5% Fed Rate Cut and yesterday’s news caused traders to panic and to sell off stocks (Good news for mortgage rates).
| Discussion: No Comments »
Will Bush’s Foreclosure Relief Plan Affect You?
December 6th, 2007 categories: Real Estate Finance, Real Estate News
President Bush announced his Foreclosure Relief Plan which will allow borrowers who have subprime mortgages with interest rates that will increase sometime in 2008 to lock in affordable interest rates for up to 5 years. Borrowers must be current on their mortgage payments and have no mortgage lates greater than 60 days in the past twelve months.
| Discussion: 2 Comments »
