San Jose Weekly Mortgage Market Commentary 9/13/2009

The week that was This week didn’t have much in the way of economic data; weekly claims declined 26K. U. of Michigan consumer sentiment index jumped to a stronger read than expected but somewhat ignored as recently it has become more volatile. In my view the most significant data this week was the July consumer […]

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San Jose Weekly Mortgage Market Commentary 9/7/2009

The week that was This week markets were bolstered by generally better economic data; the manufacturing sector based on the August ISM report on Tuesday showed much more strength that was expected, July factory orders were up, and the minutes of the 8/12 FOMC meeting continued to see a small light at the end of […]

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Weekly Mortgage Market Commentary 8/30/2009

The week that was A little better in the rate markets; the 10 yr note yield fell 12 BPs and mortgages down about 8 BPs. Choppy trade once again characterized the action last week. Treasury had little trouble selling $109B of notes while new home sales increased 9.6 % in July. July durable goods orders […]

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3% CHDAP DownPayment Assistance for San Jose First Time HomeBuyers

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 […]

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China to buy US Mortgages and what it means for you

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 […]

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San Jose Weekly Mortgage Market Commentary 8/23/2009

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 […]

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July 09 Home Sales Trend in Bay Area

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 […]

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San Jose Weekly Mortgage Market Commentary 8/16/2009

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, […]

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CalHFA 5% Down Payment for San Jose First Time Home Buyers

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 […]

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San Jose Weekly Mortgage Market Commentary 08/09/2009

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 […]

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