West LA Real Estate | Santa Monica Houses For Sale | Brentwood | Pacific Palisades
Keller Williams
Robert & Barbara Schmalz
310.505.5571
bob_schmalz@wlaregroup.com
 

 
 

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INTEREST

5 Year Arm Could Be The Mortgage To Go To

2010/07/23 – 4:57 pm

I know that we are all scared of any mortgage that is adjustable. We have come to believe the term adjustable mortgage and banking/housing meltdown must be said in the same sentence. This, of course is not true, but for the sake of this post I will not talk about causes of our economies collapse. The fact is that for Conforming Loans ($625,000 and below in the LA area) are in the high 3′s , last I looked it was 3  5/8 %.  You first time home buyers,  must take a look at this rate because most of you will move before the 5 years are up. See the article by clicking this link  Five Year Adjustable Mortgage and look twice and do not think that an adjustable rate is a bad thing. If used correctly it will save you a lot of money!

By Bob | Also posted in 5 year adjustable, 5 year adjustable mortgage, Adjustable Rate Mortgage, Adustable Rate, Blog, interest rates, interest rates today, mortage loan, mortgage, mortgage best rates, mortgage current rates, mortgage interest, mortgage interest rate, mortgage interest rates, mortgage loan, mortgage payment, mortgage rates, mortgages interest rates, mortgages loan, mortgages rates | Tagged , , , , , , , , , | Comments (8)

Will Mortgage Interest Rates Go Down Further? How Does This Effect Home Prices?

2010/07/03 – 4:24 pm

I received the following question regarding the historic low mortgage interest rates, and felt that the question and answer could be of interest to all my readers

Q: How much further do you think they will go down? How does this effect home prices? I feel like a deer caught in headlights and figure I will just wait

A: If only I could answer this question I would not be pounding the keys at Peet’s,
then again maybe I would.

In my opinion I do not see interest rates going much lower, I do see them being close, or even above, 5% by the end of the year.
How it effects home prices is another story. Normally low interest rates would increase buyers interest and push sales prices higher.
However we do not have a normal situation. We have high inventory of homes, we have a glut of distressed houses on the market and comming on the market and the biggest pressure keeping home prices down will be the unemployment situation.

It doesnt matter how low the interest rates go, if people are out of work or fear losing there jobs they are not about to go house hunting.
So it will reamin a great buyers market for the time being for people with the ability to meet the down payment and are secure in there jobs.

I know the feeling being caught in the headlights of a car…. but you shouldn’t feel that way. As a buyer you have more control in buying the right house at a fantastic price with the best mortgage rates in 50 years. If you are secure with your job and have enough for the down payment stop paying rent.

Call me anytime at 310.505.5571 and I can put you in touch with a mortgage broker who can run the numbers for you.

By Bob | Also posted in about economy, best interest rates, best time to buy a house, Blog, buying market, cheap buying, current interest rates, current mortgage rates, fed interest rates, first home buyer, first home buyers, first mortgage, first time home buyer, first time home buyer programs, first time home buyers, home buyer, home buyer programs, home buyers, interest rates, interest rates today, is it a good time to buy a house, is it the right time to buy a house, loan funding, loan interest rates, Loans, lowest interest rates, mortage loan, mortgage, mortgage agreement, mortgage best rates, mortgage brokers, mortgage current rates, mortgage fixed rates, mortgage interest, mortgage interest rate, mortgage interest rates, mortgage lenders, mortgage loan, mortgage payment, mortgage rates, mortgages interest rates, mortgages loan, mortgages rates, rates mortgage, Uncategorized | Comments (10)

Dow Jones Reports Mortgage Rates Have Hit Lowest In Years — 4.84% & LOWER

2010/05/20 – 8:32 am

Dow Jones Reported today that the mortgage rates according to Freddie Mac has hit their lowest in years,
30 Year Fixed 4.84%
15 yr fixed 3.93%
5 yr ARM 3.00%
I have read some reports that are even slightly lower, of course shopping around can even bring it lower. Looking at records that go back to 1970, 41 years ago (I also had hair down to my you know where) I do not see a lower 30 year fixed.

First Time buyers and investors who have been waiting for prices to come down it is that time to make a move. Send me an email to; bob_schmalz@wlaregroup.com and I will work up some monthlies for you.

IF HOUSES GO DOWN ANOTHER 5% ( THEY SEEM TO BE TRENDING UP AT THIS POINT) AND INTEREST GOES UP 1/4 % YOU LOSE.

By Bob | Also posted in Blog, interest rates, mortage loan, mortgage, mortgage calculator, mortgage interest, mortgage loan, mortgage rates, mortgages loan | Tagged , , , , , , , , , , | Comments (12)