Archive for June, 2013

06/24 — 30 YR Fixed: 4.125%*

FIXED Mortgage Rate* Points APR* 30 Year 4.125% 0.000 4.207% 15 Year 3.125% 0.000 3.284% INTEREST ONLY LOANS 5/1 LIBOR ARM 3.750% 0.165 3.895% 7/1 LIBOR ARM 4.250% 0.250 4.307% JUMBO LOANS 5/1 LIBOR ARM 3.750% 0.165 3.859% 30 Year 4.250% 0.250 4.307(1) Disclosures

06/24 — 15 YR Fixed: 3.125%*

FIXED Mortgage Rate* Points APR* 30 Year 4.125% 0.000 4.207% 15 Year 3.125% 0.000 3.284% INTEREST ONLY LOANS 5/1 LIBOR ARM 3.750% 0.165 3.895% 7/1 LIBOR ARM 4.250% 0.250 4.307% JUMBO LOANS 5/1 LIBOR ARM 3.750% 0.165 3.859% 30 Year 4.250% 0.250 4.307(1) Disclosures

06/24 — 5/1 ARM: 3.750%*

FIXED Mortgage Rate* Points APR* 30 Year 4.125% 0.000 4.207% 15 Year 3.125% 0.000 3.284% INTEREST ONLY LOANS 5/1 LIBOR ARM 3.750% 0.165 3.895% 7/1 LIBOR ARM 4.250% 0.250 4.307% JUMBO LOANS 5/1 LIBOR ARM 3.750% 0.165 3.859% 30 Year 4.250% 0.250 4.307(1) Disclosures

06/24 — 7/1 ARM: 4.250%*

FIXED Mortgage Rate* Points APR* 30 Year 4.125% 0.000 4.207% 15 Year 3.125% 0.000 3.284% INTEREST ONLY LOANS 5/1 LIBOR ARM 3.750% 0.165 3.895% 7/1 LIBOR ARM 4.250% 0.250 4.307% JUMBO LOANS 5/1 LIBOR ARM 3.750% 0.165 3.859% 30 Year 4.250% 0.250 4.307(1) Disclosures

Market Update for June 24 2013: My Hypocrisy

I have been hypocritical. For those of you who read my Market Updates, you know how critical I am of “big banks.” I’ve ranted about how they have received bail-out loans from our government—the antithesis of a truly capitalistic system where the Invisible Hand and Survival of the Fittest determine winners and losers. And yet, […]

Pulse on Politics: Bernanke’s Comments Drive Rates Upward

Fed Chairman Bernanke’s recent comments and not initiating QE3 show he and the Fed feel that the US economy is recovering. Rates have definitely ticked-up in response. At the lowest point in the market, I was locking clients at 3.125% on 30 year fixed rate mortgages. Now, we’re pushing past 4.25% to 4.50%. This trend […]

Alternative Programs — Adding Value: FHA Loans Prior to May 2009

FHA loans, especially those initiated before May of 2009, still offer tremendous potential for clients to refinance. I have a client now who is currently paying 6.00% interest. Even with the higher rates today, we can save him over 2.00% annually. Loans initiated before May of 2009 qualify for special incentives. Call for details!

Social Responsibility: Upward Bound House

The Culver City Rotary Club elected me as its President to begin in July, 2013. I would love to have your support on our projects! One is for our club to adopt two units at Upward Bound House: a local homeless shelter for families. Call for details!

06/17 — 30 YR Fixed: 3.750%*

FIXED Mortgage Rate* Points APR* 30 Year 3.750% 0.000 3.835% 15 Year 3.000% 0.125 3.187% INTEREST ONLY LOANS 5/1 LIBOR ARM 2.750% 0.000 2.840% 7/1 LIBOR ARM 2.875% 0.335 2.993% JUMBO LOANS 5/1 LIBOR ARM 3.125% 0.250 3.238% 30 Year 4.375% 0.150 4.488(1) Disclosures

06/17 — 15 YR Fixed: 3.000%*

FIXED Mortgage Rate* Points APR* 30 Year 3.750% 0.000 3.835% 15 Year 3.000% 0.125 3.187% INTEREST ONLY LOANS 5/1 LIBOR ARM 2.750% 0.000 2.840% 7/1 LIBOR ARM 2.875% 0.335 2.993% JUMBO LOANS 5/1 LIBOR ARM 3.125% 0.250 3.238% 30 Year 4.375% 0.150 4.488(1) Disclosures