San Marino California Real Estate Market Resource

San Marino Jumbo rates are at 6.5% fixed for 30 years!

The risk of interest rates moving higher than 6% is great!

FNMA announced today that it’s raising its Loan to Value (LTV) limits.  This means that home buyers can put a lot less money down to buy their dream home. 
It all sounds great, right?  Fabulous news!
NOT Really!
Well it’s not as it seems just like all the other announcements that have been made recently.  FNMA is trying [...]

The Fed announced another rate cut. The rate has been cut by .75% yesterday. What a great time to get or refinance a HELOC (Home Equity Line of Credit).
If you need a recommendation to a good lender, let me know and I’d be happy to provide several references.

On February 13th, President Bush signed the Economic Stimulus Bill into law.  There has been a lot of confusion as to the details with the most critical question what will the new conforming loan amount be?
A conforming loan amount is simply the amount of money that a bank will lend you at lower interest rates.  [...]

If you’ve been following my updates on The Industry Minute, you know that the President signed the Stimulus Package on Wednesday, February 13th. I also informed you that Wednesday’s Retail Sales Report led to deteriorated pricing and the volatility continued throughout the week!
This week’s Consumer Sentiment Report wasn’t too bad, translating into healthier corporate profits [...]

Daily Mortgage Rate Update by Ricardo Bueno

The major line-ups on the Economic Calendar for this week are:
Retail Sales & Crude Inventories on Wednesday
Balance of Trade & Initial Jobless Claims on Thursday, and
Industrial Production, Capacity Utilization & Consumer Sentiment on Friday
Over the last week rates have been holding consistently between 5.375% and 5.50% on conforming [...]

I asked my friend Ricardo Bueno, a Pasadena Mortgage Broker to explain in detail the difference between locking and floating a loan and what does that mean.  Here’s his post – Enjoy!
Lock or Float? Mortgage Rate Locks Defined!

If you’ve been following the Daily Mortgage Updates here on The Industry Report, I’ve been giving you recommendations [...]

“Better get under cover, Sylvester. There’s a storm blowin’ up, a whopper.” Professor Marvel; The Wizard of Oz
Just when you thought it was going to be a light week on the Economic Calendar, the Fed comes out with an Emergency Rate Cut!
A total of 75 basis points (.75% down to 3.50%).
The Bond Market is [...]