Will Homeowners and Buyers Lose $45,000?

Will Homeowners and Buyers Lose $45,000?
Ann Arbor, MI August 13, 2009 – Federal Reserve officials met yesterday and issued a statement saying that their program to purchase $1.25 trillion of mortgage-backed securities will be winding down by the end of year. “The Fed is the single largest buyer of mortgage bonds in the market [...]

Bay Area Weekly Interest Rate Update- Pricing Up, trend to lock

According to Freddie Mac, the 30-year fixed mortgage rate jumped to an average 5.32% this week, from 4.91% last week. While refinancing activity has been hit by the rising rate, home purchases continue to rise. It looks as though home buyers are jumping in now, in case the rates rise further. Diane Saatchi, senior vice [...]

Bay Area Weekly Mortgage, Interest Rate and Real Estate News

This weeks trend,
Rise in mortgage rates:
Freddie Mac has announced that the mortgage rate (30-year fixed rate) for the week ending May 7 rose to 4.84%, from 4.78% for the earlier week. Incidentally, 4.78% was an all-time low. The rise in rate is significant more from a directional perspective than from the point of view of [...]

The Obama Refi Plan- Help For Home Owners Refinance Plan Q&A

The Making Home Affordable program is officially official.  Mortgage lenders are now processing applications and paperwork for the help-the-homeowner plan often referred to as “The Obama Plan”.
Because Making Home Affordable is a new program, there have been a lot of questions about how it works, who is eligible, and how to apply for a Making [...]

East Bay Mortgage Market Update-

Warren Buffett is known as the Oracle of Omaha, but Pimco’s Bill Gross is known as the Sage of the Bond Market.  His insight is typically accurate, and today he confirmed what many had been expecting: mortgage rates should be dropping to 4.5%.  In an interview on CNBC, Gross noted: “I think at [...]