San Jose Mortgage Rate Weekly Update

Weekly update on San Jose Mortgage Rates and economy news. The Week That Was: Freddie Mac in its Primary Mortgage Market Survey reported that 30-year fixed-rate mortgage averaged 4.97 percent with an average 0.7 point for the week ending March 4, 2010. Last year at this time, the 30-year FRM averaged 5.15 percent. The 5-year […]

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A Video on How Mortgage Interest Rates move?

If you watched the Mortgage Rates recently, it has been very volatile. Sometimes, going up and down several times a day. Have you ever wondered what makes mortgage rates go up and down? Watch this clip which explains the dynamic between bonds and mortgage rates – in simple terms. (Video created by Dustin Hughes and […]

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CalHFA Allocates $700 Million to Assist Homeowners

The California Housing Finance Agency (CalHFA) today announced that it will develop innovative initiatives to use nearly $700 million in new federal funding to help California’s neediest homeowners struggling with mortgages payments remain in their homes. In addition to California, the funds will support efforts in Arizona, Florida, Michigan and Nevada. All five states have […]

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San Jose Real Estate & Mortgage Rates Report 2/21/10

Your weekly dose of San Jose Mortgage Rates, Real Estate Trends and top Economy news. The week that was: Freddie Mac in its Primary Mortgage Market Survey reported that the 30-year fixed-rate mortgage (FRM) averaged 4.93 percent with an average 0.7 point for the week ending February 18, 2010. The 5-year adjustable-rate mortgage (ARM) averaged […]

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San Jose Mortgages Rates & Market Commentary 02/08/10

Your weekly dose of San Jose Mortgage Rates and Market Commentary. The Week That Was: Freddie Mac in its Primary Mortgage Market Survey reported that the 30-year fixed-rate mortgage averaged 5.01 percent with an average 0.7 point for the week ending February 4, 2010, up from last week when it averaged 4.98 percent. The 5-year […]

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Bay Area mortgage rates for 5 Year ARM sinks below 4%

The Mortgage Rates for a 5 Year adjustable rate mortgage (ARM) sank to 4% (and lower in some cases)* yesterday for Bay Area homes. Freddie Mac average rates released on yesterday reported 5 Year ARM at 4.27% at 0.6 points. But the rate improvements later in the day has opened up great opportunities for home […]

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New FHA Loan guidelines for San Jose Condominiums

Some major changes went into effect today for FHA loans on San Jose & rest of the Bay Area Condominiums. I. Elimination of Spot LoanĀ Approval Process If a condo project was not approved by FHA, a “spot approval” was allowed just for financing one unit. This process has been eliminated as of today. Now […]

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San Jose Mortgage Rate & Market Commentary 02/01/10

Your weekly dose of San Jose Mortgage Rates and Market commentary. The Week that was: Freddie Mac reported in its Primary Mortgage Market Survey that 30-year fixed-rate mortgage (FRM) averaged 4.98 percent with an average 0.6 point for the week ending January 28, 2010, down slightly from last week when it averaged 4.99 percent. The […]

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Bay Area Mortgage Rates set to go up because of Fed actions

The Fed’s statement today does not augur well for Bay Area Mortgage Rates. The Fed’s policy-setting committee stuck to a plan to end its purchases of mortgage securities by the end of March. Background – The program to purchase agency mortgage-backed securities (agency MBS) was announced by the Federal Reserve on November 25, 2008. On […]

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San Jose Mortgage Rates & Market Commentary 1/24/10

Your weekly dose of San Jose Mortgage Rates and Market commentary. The week that was: Freddie Mac reported in its Primary Mortgage Market Survey that 30-year fixed-rate mortgage 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. The 5-year adjustable-rate […]

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