The most-asked questions by home mortgage borrowers so far in 2010 are about where rates will go, how to lock rates in a volatile trading environment, and how home appraisals affect the lending process. Each question is addressed below. Where Will Rates Go By Summer? Rates on loans up to $417,000 are about 5% as
QuarterlyBasis
As discussed last quarter, FHA loans have become the most viable way for borrowers with less than 20% down to buy a home. Single family home FHA loans are fairly straightforward. Rules for condo FHA loans have recently changed, and it’s critical for any homebuyer targeting condos up to a price point of $850k and
The loan limits that make it possible for high-cost markets like the Bay Area and Los Angeles to have conforming loans up to $729,750 are set to expire December 31, and the $8000 tax credit available to homebuyers expires November 30. As of this writing on October 5, there’s been no indication as to whether
In a market report last quarter, we buried a quotation that’s worth revisiting. It was from investment luminary Dean Witter in May 1933, about 3.5 years after the Great Depression began. He said: “Some people say they want to wait for a clearer view of the future. But when the future is clear, the present
Banking is stabilizing but strict loan approvals continue in this back-to-basics era. Nimble monetary policy helps navigate volatile markets and sets the precedent going forward. After two years of turmoil, how do you act on cautious optimism? It’s all covered in this QuarterlyBasis report. If you’d like to discuss anything, I’m at your service. Bank
Banking is stabilizing but strict loan approvals continue in this back-to-basics era. Nimble monetary policy helps navigate volatile markets and sets the precedent going forward. After two years of turmoil, how do you act on cautious optimism? It’s all covered in this QuarterlyBasis report. If you’d like to discuss anything, I’m at your service. Bank