CORNERSTONE FIRST FINANCIAL: FED RATE INCREASE IS EMINENT BY END OF 2015 Mark Livingstone, President of Cornerstone First Financial, recaps mortgage market landscape for 2015 and outlines the projected fed rate increase that is eminent by end of 2015 on the John Fredericks Show. The John Fredericks Show broadcasts live weekdays from 6-10am on WHTK…
The Consumer Financial Protection Bureau (CFPB) issued a new rule that combines mortgage disclosures previously established by the Truth-in-Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA) into a single rule effective October 3, 2015. New home buyers, listen to this important update and information.
A good local school can be one of the biggest drivers of home prices in a community. Peter and Megan Dale of San Francisco say their two-bedroom condominium in Cole Valley, just south of the Haight-Ashbury District, is starting to feel cramped; their two school-aged children share a single room. But they have no plans…
After tying the record for most consecutive days with no change, mortgage rates moved significantly lower today. The significance isn’t due to the size of the move–as far as day to day changes go, there have been bigger. Rather, the impressive part of today’s rally is that it occurred while rates were already effectively at…
After falling for three months, the pace of existing-home sales rose in December, pushing 2013’s tally to the highest level in seven years, according to data from the National Association of Realtors . For 2013 sales hit 5.09 million, the most since 2006, and up 9.1% from the prior year. “The data are consistent with…
Once their grown children had moved away from the family home, John Goodman, 65, and his wife, Donna, realized they were ready to move on as well. “We had an old 1940s, beautiful home, but we just didn’t need it anymore, and we didn’t need the taxes and the maintenance that went with it,” says…
Some housing experts are trumpeting changes that allow foreclosure sufferers to buy back into the American Dream sooner than they probably imagined, calling 2014 the year of the “boomerang buyer.” Revisions made over the summer to Federal Housing Administration guidelines and technical updates in November to Fannie Mae loan approval systems have opened the door…
The U.S. real estate market made a robust comeback in 2013, surpassing expectations of many economists, as the combination of low inventories and historically low-interest rates caused home prices to rise and even helped fuel bidding wars in some markets, surpassing the expectations of many economists. Looking back at some 2013 data can give us…
Average U.S. rates for fixed mortgages barely changed this week, hovering near historically low levels. Mortgage buyer Freddie Mac said Thursday that the average for the 30-year loan slipped to 4.51% from 4.53% last week. The average for the 15-year loan edged up to 3.56% from 3.55%. Fixed 30-year loan dropped from 4.53% last week…
The new regulator for Fannie Mae and Freddie Mac said Wednesday he was delaying planned fee increases by the seized mortgage finance giants because he wanted to assess the impact on the housing market. Melvin L. Watt, who was sworn in as director of the Federal Housing Finance Agency on Monday, quickly showed there would…