FHA delays HVCC for San Francisco (SF) Bay Area Home Loans until February 15, 2010. FHA announced today that the enactment of Appraiser Independence has been delayed. This was originally planned for a January 1, 2010 implementation. On the lines of HVCC, the FHA policy prohibits mortgage brokers and commission-based lender staff from the ordering […]
The week that was: The statement from the last FOMC meeting wasnt much of a change. The fed stuck to keeping the rates low for “extended period”. But how “extended” is “extended” – now that’s anybody’s guess! Freddie Mac’s weekly Primary Mortgage Market Survey reported 30-year fixed-rate mortgage (FRM) averaged 4.94 percent with an average […]
Short sale is increasingly becoming a common option to sell a house in San Francisco (SF) Bay area and rest of California. A short sale is a transaction where a seller sells the property for less that what was owed. If you went through a short sale you could have this question – Do I […]
How to create a Chic, Easy, and Cheap holiday table setting in no time! So the big holiday countdown is on! It’s nine days before Christmas. No matter what holiday you celebrate, chances are you will be hosting or attending some type of seasonal gathering. For those of you brave enough to be hosting the […]
The Week that was: The bond and mortgage markets were choppy, swinging on weak Treasury auctions (the 10 yr and 30 yr). Not much in the way of economic measurements but what there was were better than what had been expected. Retails in Nov were better than markets were looking for, the U. of Michigan […]
In home purchase transactions in San Jose and rest of the Bay Area, there are many times when the buyer and the seller are simply unable to agree upon a specified closing date. The Real Estate Agent involved can negotiate a ‘rent back’ period that is agreeable to both parties. This means the transaction technically […]
The week that was Oct existing and new home sales were much better than economists thought, the manufacturing sector better than thought, and auto sales stronger. The Nov employment report on Friday really shook things up; job losses only 11K with the unemployment rate lower, to 10.0% frm 10.2% in Oct and Sept. Interest rates […]
Federal Housing Administration (FHA) today announced single-family loan limits for San Jose. These loan limits are effective for loans with credit approval issued on or after January 1, 2010 through December 31, 2010. One-Unit $ 729,750 Two-Unit $ 934,200 Three-Unit $ 1,129,250 Four-Unit $ 1,403,400 These loan limits are also available for the counties of […]
The week that was: The minutes from the 11/4 FOMC meeting were released. Fed’s minutes reiterated the Fed isn’t anywhere close to increasing interest rates. Fed governors and regional bank presidents predicted the jobless rate will range from 9.3% to 9.7% in next year fourth quarter. Oct personal income increased 0.2% and spending was up […]
Affordability Index has been dropping in Santa Clara county. California Association of Realtors (C.A.R.) measures First-time Buyer Housing Affordability Index (FTB-HAI) on a quarterly basis. This measures the percentage of households that can afford to purchase an entry-level home in California. The higher the index, more affordable it is for a first time buyer to […]
