Mortgage News

Today, the Federal Reserve cut the overnight interest rate by 0.5% the first time since 2020 as inflation trends move closer to the Fed’s target, signaling a positive shift in the economy.  Mortgage rates had already adjusted prior to this rate cut a...

There is some big news this week.  First started with First Republic Bank is sold to JPMorgan Chase Bank on Monday, May 1, 2023.  First Republic was funded in 1985 and the 2nd largest U.S. bank by assets to breakdown after Washington Mutual which was...

Recent news of Silicon Valley Bank and Signature Bank collapse has caused investors questioning the US economy.  Fed increased the overnight fund rate for another 0.25% on March 22, 2023 which marks the highest point since September 2007.  Here is th...

Awesome news!! Borrowers would like to utilize FHA(Federal Housing Administration) loans to purchase homes or refinance their current loans. HUD made an announcement on Feb 22, 2023, the Annual Mortgage Insurance Premium (MIP) will be cut by 0.3% fro...

Fed rates increased another 0.25% moving the overnight Fed Fund rate to 4.5% – 4.75%, the highest since October 2007.  The marks the 8th increase since March 2022.  For many homeowners who have a home equity line of credit loan, you will see a ...

Great news for homebuyers in Los Angeles and in the Bay Area, Fannie Mae and Freddie Mac have set new conforming loan limits for a one-unit residence from $647,200 to $726,200 starting in 2023.  They also establish a ceiling of $1,089,300 for high ba...

What’s my purchase power?  How much can I afford?  What information was used to determine the maximum loan amount? Your mortgage professional will review the income documents to calculate the gross income from all sources.  The maximum debt ratio (to...

Credit score plays a very important role in your home shopping experience.  A credit score is a number that represents your credit risk.  Lenders use this to determine whether to issue the loan and the rate they offer is based on this number. You can...