1/3/11: CPK Market Update

By chrisking • January 3rd, 2011

MARKET UPDATE for January 3, 2011

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RATES

FIXED RATE* PTS APR**

30 YR 4.750% 0.375 5.398%

15 YR 4.125% 0.250 4.902%

INTEREST ONLY LOANS

5/1 LIBOR ARM 3.625% 1.000 4.316%

7/1 LIBOR ARM 4.250% 1.000 4.916%

JUMBO LOANS

3/1 LIBOR ARM 3.850% 1.000 4.531%

30 YR                   5.600% 1.000 6.221%

Happy Holidays to all of my clients, contacts and to those of you who I have not yet met! As 2010 draws near to its close, I hope all of you achieved your personal, professional and spiritual goals: may you truly have enjoyed the last year. I would also like to send a big Thank You to my clients and referral sources who helped CPK Mortgage achieve some fantastic successes in 2010. Thanks to your support we achieved the following:

We set the goal of doubling CPK Mortgage’s corporate income from 2009. By the end of December, we will have achieved that goal. We set the goal of launching our new corporate website. The website is launched and it is beautiful! Check it out at www.cpkmortgage.com. We set the goal of providing outstanding client service while maintaining our commitment to Socially Responsible Lending. See our testimonials on the website: we’re achieving that goal on a daily basis as well.

When it comes to real estate, we’re here to help you actualize your goals as well. At the beginning of each transaction, we ask your clients what their overall financial objectives are. Throughout the process, we follow up with them to ensure we achieve and exceed their expectations.

What’s in store for 2011? More of the same industry leading innovations that set us apart. For example, consider the new CalHFA Down Payment Assistance Program for low to moderate income families. This program, called the School Facility Fee Down Payment Assistance Program (SFF), helps families with a grant for down payment and closing costs on the purchase of newly constructed homes. Our constant focus on the market and adaptation of new programs enables us to help our clients succeed. Make CPK Mortgage your partner in 2011 for your commercial and residential mortgage needs.

PULSE ON POLITICS: EYE ON THE MARKET

Statistically speaking, home ownership has never been as affordable as now. The National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) reported that “72.3% of all new and existing homes sold in the second quarter of 2010 were affordable to families earning the national median income.” Contact us today for a pre-approval and to look at Rent v. Own Comparisons.

ALTERNATIVE PROGRAMS: ADDING VALUE

Home Equity Lines of Credit. Do they still exist? Yes! In fact, we work with banks that offer credit lines on both commercial and residential properties. We have recently established credit lines for clients looking to consolidate mortgages, pay off high interest rate credit cards and establish reserve funds for business cash flow purposes. Contact us for more information on the maximum credit line amount that we can do for you.

SOCIAL RESPONSIBILITY

The Culver City High School Interact Club (a division of Rotary International) will be participating in the Rose Parade Float Decorating on December 18, 2010 as a service project. Please contact us for more information and to come volunteer at this fun event. We’ll be having a BBQ for all volunteers as well.

 

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