Investor Buying Continues to be a Major Player in the SoCal Real Estate Housing Market

California continues to draw heavy investor money from China alongside their massive boom over the last decade.  Yet a big part of this is speculation and we actually see this via rents. Rentals are more reflective of what local families can pay. It is interesting to see in some highly desirable areas that rents go[…]

Improving Economy Bumps Up Mortgage Rates

Signs of an improving economy boosted fixed mortgage rates this week, market reports show. According to Freddie Mac, the average rate on a 30-year fixed-rate mortgage (FRM) was 4.20 percent (0.6 point) for the week ending June 12, an increase of 6 basis points from last week’s report. Last year, the 30-year FRM hovered just[…]

$500 Home Appraisal Credit

Here’s an opportunity to receive up to $500 toward a home appraisal brought to you by EverBank and Frank Joseph! Whether you’re looking to purchase or refinance, EverBank has a mortgage solution for you.   Please contact Frank Joseph for more details and conditions. Please contact us  to help you with your Commercial needs or to[…]

Inventory is Starting to Show Up in the California Housing Market

The main motivator of this growing inventory is the delusional prices being asked by sellers are no longer generating massive amounts of sales from house lusting buyers.  In other words, sky high prices have caused many homes to sit on the market longer thus allowing for more inventory to accumulate like a queue forming at[…]

Weekly Mortage Update

Compliments of: Frank Joseph Mortgage Loan Officer / CPA NMLS ID: 305034 949.939.6896 Email me Visit my website FUTURE INFLATION It was a very quiet week for mortgage rates. There were few surprises in the economic data. Talk of easing by the European Central Bank (ECB) was positive for US mortgage rates, helping rates end[…]

You’ll pay more for a big home nowadays, but a big mortgage should be less of a reach

  For the first time in over 20 years, rates on jumbo mortgages — loans of more than $417,000, or $625,500 in pricier areas — are at or below rates on conventional mortgages. Jumbo rates usually run one-quarter to one-half of a percentage point higher, but lenders eager for wealthier customers are making deals. In[…]

Harvard: 5 Financial Reasons to Buy a Home

  Eric Belsky is Managing Director of the Joint Center of Housing Studies at Harvard University. He also currently serves on the editorial board of the Journal of Housing Research and Housing Policy Debate. This year he released a new paper on homeownership – The Dream Lives On: the Future of Homeownership in America. In[…]