Saratoga Home Buyers Should Lock-in Low Mortgage Interest Rates Now
Last week I listened a discussion by a group of leading bank economists (Doug Duncan, Gary Zimmerman, Kenneth Rosen and Jonathan Miller) at Inman Connect in San Francisco. Their view of the economy was pretty bleak! Kenneth Rosen said current policies in Washington, D.C. are unsustainable and since mortgage rates are…
Low Mortgage Interest Rates and New Super Conforming Loans
Mortgage interest trends suggest that now might be a good time to be a home buyer in terms of affordability and risk: Low Interest Rates - Average rate on a 30 year fixed conforming nationwide ended this week at 4.57%, which is another all time low for the fourth consecutive…
Foreclosures in Saratoga, CA
Foreclosure home are not a significant part of the real estate market in Saratoga, CA 95070. However, there are currently 2 REO (real estate owned) and 9 short sales properties available for sale on the multiple listing service. The low end of the distressed market in Silicon Valley has been…
Pulse on the Saratoga Real Estate Market
Despite the federal tax credit ending last week, California has extended the credit for first time homebuyers and new construction home buyers. This swill be good for real estate sales in Santa Clara County, but probably will not effect sales in Saratoga, Los Gatos, Monte Sereno and surrounding areas. Today…
Second Trust Deeds Coming Back In Santa Clara County
Starting Monday, April 19, 2010, Wells Fargo Mortgage will be supporting the use of second trust deeds that will now allow home buyers to have up to a 85% loan to value ratio (including a second as well as first trust deed) in Santa Clara County without having the added…
Home Affordable Foreclosure Alternative (HAFA) Program
The new federal Home Affordable Foreclosure Alternative (HAFA) Program went into effect on April 5, 2010. This program has new guidelines intended to speed up and standardize short sale and deed-in-lieu (DIL) transactions. In a short sale, the borrower sells the home for less than the amount owed on the…
Will Mortgage Interest Rates Rise in 2010?
The Federal Reserve has been purchasing mortgage-backed securities guaranteed by Fannie Mae and Freddie Mac since early 2009. The purchase program has helped maintain low interest rates for borrowers in Silicon Valley. As planned, the Fed last week announced it will stop purchasing these securities at the end of this…
Mortgage Rates Down For Third Week
Freddie Mac today released the results of its Primary Mortgage Market Survey in which the 30-year fixed-rate mortgage (FRM) averaged 4.99 percent with an average 0.7 point for the week ending January 21, 2010, down from last week when it averaged 5.06 percent. Last year at this time, the 30-year FRM…
Santa Clara County Jumbo Mortgages Now Classified Less Risky
Jumbo mortgages in Santa Clara County has been reclassified from a market risk perspective to class 1, which is the least risky class! The major benefit is that now a borrower can put down 20% on a jumbo loan and only need to show 10% of the loan amount in…
Good Credit Scores Are Essential To Get A Mortgage Today
Image via Wikipedia Starting November 1st, getting a mortgage loan may have become a little more difficult for some homebuyers; government-backed Fannie Mae has tightened their lending standards. The required scores for good credit are rising. A credit score (FICO) is a number representing the likelihood that a person will pay…
Are Shared Home Appreciation Arrangements Good for Retirees?
Home buyers looking for homes for sale in Saratoga, Los Gatos, Monte Sereno and other affluent neighborhoods of Silicon Valley are aware that prices in the upper end of the market are currently soft. Astute home buyers are hoping that home values will rebound in the best neighborhoods as the…
Mortgage Rates Attractive to Home Buyers
Image via Wikipedia Mortgage rates are continuing to stay flat due to unemployment concerns. This week the US Treasury will auction off $81 Billion worth of debt and investors are concerned that demand especially foreign demand will wane due to all the debt that has come into the market over…
Mortgage Interest Rate Rising
Image via Wikipedia According to Private Mortage Advisors, an affiliate of Alain Pinel Realtors, mortgage rates are rising due to pressure on the 10 year US Treasury Bond which is the result of a huge debt auction by the federal government. This $123 billion offering is bigger than the demand…
Mortgage Rates Expected to Rise Slightly
Mortgage rates have climbed a bit this past week due to strong earnings in the stock market, which has pushed the dow over 10,000.  On the other hand we are now seeing higher fuel prices, which is generally a strong inflation indicator and this is not good for rates.  In addition, jobs…
Can Interest Rate Buydowns Help Saratoga Home Sellers and Buyers?
Mortgage interest rates are currently low, but home sellers can give extra motivation to potential buyers their Saratoga home by offering an interest rate buydown. Private Mortgage Advisors, an affiliate of Wells Fargo Home Mortgage and Alain Pinel Realtors has a temporary rate buydown option that can lower home buyer’s…
