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 liquid funds as reserves.  This should [...]

continue reading.....

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 his or her debts.  Depending on the [...]

continue reading.....

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 recession ends and they are [...]

continue reading.....

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 the past few months.  The Chinese Premier [...]

continue reading.....

Image via Wikipedia

According to Private Mortage Advisors, an affilate of Alain Pinel Realtors, mortgage rates are rising due to pressure on the 10 year US TBond which is the result of a huge debt auction by the federal government. This $123 billion offering is bigger than the demand out there for treasuries and is causing [...]

continue reading.....