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 [...]

Time to Refinance in the Bay Area-

Homeowners should rush to refinance their mortgages,  now that the Federal Reserve is now committed to low interest rates.
The Fed this afternoon announced that the key federal funds rate would remain unchanged in a range between 0% and 0.25%, and promised to keep that figure low for the foreseeable future. 4% mortgages may be in [...]

Homeowner Affordability and Stability Plan- Mortgage news for the Bay Area

President Obama unveiled his plan to help stabilize the housing market and keep millions of borrowers in their homes. The Homeowner Affordability and Stability Plan includes two initiatives to help struggling homeowners. One is a refinancing program for homeowners with less than 20% equity in their homes, or who owe more than their home [...]

FAQ: How Will Obama’s Housing Plan Work in the Bay Area?

Below is an email I had to share with my readers.

President Obama announced a $75 billion plan on Wednesday that he said would help as many as 9 million Americans avoid foreclosure.
As EconWatch previously noted, not all of the details are public, and we’re expecting to hear more on March 4. [...]

New 4.5% mortgage plan won’t apply to refi’s

This is a great article by Bloomberg news. I get calls on a regular basis regarding the news on a 4.5% consumer mortgage rate. Its my opinion that interest rates are the best I have seen in years. When the rates drop the window will be short…and we are close.  Typically they touch down [...]