This post will help you find all the details on 3% down payment assistance program (CHDAP) for San Jose and rest of the Bay Area First Time Home Buyers. I have earlier blogged about CalHFA 5% downpayment program & $8000 First Time Home Buyer Credit in my earlier posts. The California Homebuyers Downpayment Assistance Program […]
CNN Money reported that China’s $200 billion sovereign wealth fund, which suffered big paper losses on stakes in Morgan Stanley and Blackstone, is set to invest up to $2 billion in U.S. mortgages as it eyes a property market recovery. Under the Public-Private Investment Plan (PPIP) launched earlier this year, the U.S. government plans to […]
The week that was Mortgage loan delinquency, borrowers 60 or more days past due, increased for the tenth straight quarter, hitting an all-time national average high of 5.81% for the second quarter of 2009, according to the latest data from TransUnion.com. This statistic is up 11.3% from the first quarter’s 5.22% average. Sales of existing […]
Sales hit 4 year high, Median price up Data Quick reported that Bay Area home sales rose last month to the highest level for a July in four years as deals above $500,000 continued to accelerate. The median sale price climbed above the prior month for the fourth consecutive month. San Jose Mercury News reported […]
The week that was Continued market volatility; the mortgage market regained some losses from the week before as interest rate markets swung wildly from one economic report to the next. Freddie Mac Primary Mortgage Market Survey® for 30-year fixed-rate mortgage (FRM) averaged 5.29 percent with an average 0.7 point for the week ending August 13, […]
California Housing Finance Agency (CalHFA) recently launched it’s new program called Cal 30 – Conventional for First Time Home Buyers in San Jose, the San Francisco Bay Area and the rest of the state. This conventional first mortgage features a fixed interest rate, fully amortized loan over a 30-year term. It has a maximum Loan-to-Value […]
The week that was Job losses were a lot less than expected; still 247K jobs lost with no real insight as the when it will finally flatten. The unemployment rate, expected to be up to. 9.7% fell to 9.4%, down 0.1% from June. Weekly jobless claims on Thursday fell by 38K to 550K filings for […]
How to get FHA to FHA refinance with no Appraisal, Income or Credit verification If you live in the San Francisco Bay Area or rest of California state and if you currently have an FHA loan, you may be eligible for an FHA streamline refinance. This can help you lower your mortgage payment and mortgage […]
The week that was Freddie Mac‘s Primary Mortgage Market Survey® (PMMS®) for 30-year fixed-rate mortgage (FRM) averaged 5.25 percent with an average 0.7 point for the week ending July 30, 2009, upfrom last week when it averaged 5.20 percent. Last year at this time, the 30-year FRM averaged 6.52 percent. Five-year Treasury-indexed hybrid adjustable-rate mortgages […]
Beginning on Thursday, July 30, 2009, the Truth in Lending Act requirements regarding initial and final disclosures to borrowers, the timing of when fees can be charged and when closings may occur will become effective. These new regulations lengthen the time needed to close loans in order to ensure that borrowers have enough time to […]
