Month: April 2010

Mortgage Rates Heading Into The Weekend

CONFORMING 30 year fixed up to $417,000
5.125% / 1 pt
5.375% / 0 pt

CONFORMING 5 year fixed up to $417,000
3.875% / 1 pt
4.125% / 0 pt

FHA 30 year fixed up to $417,000
5.125% / 1 pt
5.375% / 0 pt

FHA 5 year fixed up to $417,000
3.625% / 1 pt
4.000% / 0 pt

CONFORMING 30 year fixed up to $729,750
5.25% / 1 pt
5.50% / 0 pt

CONFORMING 5 year fixed up to $729,750
4.125% / 1 pt
4.375% / 0 pt

FHA 30 year fixed up to $729,750
5.25% / 1 pt
5.50% / 0 pt

JUMBO 30 year fixed up to $2,000,000
5.375% / 1 pt
5.625% / 0 pt

JUMBO 5 year fixed up to $2,000,000
4.375% / 1 pt
5.375% / 0 pt (note small difference on this one between 30 year fixed and 5 year at 0 pt)

Please note, this doesn’t take into account some positve adjustments for lower than normal LTV’s, or higher than normal FICO scores, or some negative adjustments for specifics such as combination of above for condos and so forth, but nonetheless, is still accurate and gives you a good idea.

(*Source: David Rubenstein, Home Services Lending)

Mortgage Rates Jump/Eyes are Turning to Investors

LA Times-The increase in mortgage rates from 4.99% last week to 5.08% this week left fixed rates at their highest level since the first week of this year, Freddie Mac economist Frank Nothaft said. Please read full article below.
MORTGAGE RATES JUMP BACK ABOVE 5%, FREDDIE MAC REPORTS

Article #2-With home prices stabilizing and an economic recovery beginning to take hold, the hope is that private investors will filter into the market. Please read full article below. AS FED’S MORTGAGE PURCHASES END, EYES TURN TO INVESTORS

Tax Credits Expire April 30th/Cali Home Prices Surge in January

LA Times-With special tax credits set to expire at the end of April, applications for loans to purchase homes are at their highest level in five months, a mortgage trade group said Wednesday. Please read full article below.
APPLICATIONS SURGE FOR HOME-PURCHASE LOANS; TAX CREDITS TO EXPIRE APRIL 30th

Article #2-A national index of home prices rose unexpectedly in January, with California cities posting strong gains. Please read full article below.
HOME PRICES IN CALIFORNIA SHOW STRONG, UNEXPECTED GAINS IN JANUARY

LAUSD Permit Battle Heating Up

Some interesting, yet vaild points brought up by County Supervisors regarding the transfer permit battle in the LAUSD.

“Supervisor Zev Yaroslavsky said students should be allowed to finish out their education at their current elementary, middle or high schools before being forced to attend an LAUSD school.”

READ FULL ARTICLE HERE

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