After the Feds: Mortgage Rates Want to Go Down

6/23/2017 | Casey Fleming The dust has settled, so we have been looking for clues as to what investors think about the Fed’s move, and how that will affect mortgage rates.  What we can conclude is that either the move was a yawner (we knew that the Fed move was expected) or that investors simply...

Listing of the week – a man’s home is his castle

4/5/2017 | Casey Fleming Each week I try to look for something unique in a property. This week’s listing of the week was a no-brainer.  How would you like to own your own English countryside castle?  And for less than $1 million? Our listing of the week. Molly’s Lodge is situated on the northern edge...

1% Down Payment Program – A Good Idea?

Can you buy a home with only 1% down?  Yes, you can.  Is it some wild, exotic toxic loan product with super high interest rates?  Actually, no, it’s a conventional, conforming loan.  How does it work?  Glad you asked. The minimum down payment for a conforming loan is 3%.  However, some of that down payment...

Mortgage Rates Hold Steady

As expected, mortgage rates held steady this last week, with a very slight improvement Monday and Tuesday of this week, supporting the notion that bonds are oversold but won’t recover until the New Year. The Electoral College vote did not appear to have any measurable impact on the market, so we presume that the market...

Cute Little Bungalow Near Montalvo

Are you in the market for a home in the Montalvo neighborhood near Saratoga and Los Gatos?  I like to look for fun listings in the area for my first-time home buyers. I found this little gem today.  It’s the highest priced listing currently in Saratoga, according to Homes and Land Magazine. It’s listed at...

Will Fannie / Freddie Raise Conforming Loan Limits in 2017?

Fannie Mae and Freddie Mac (The Agencies, or F / F for shorthand) continue to make the vast majority of loans in the United States.  Each year they set a limit (the conforming loan limit) for the size of loan they will purchase.  As the average price of homes in the U.S. rises the conforming...

The Next Housing Crisis?

More and more of my clients are asking me “Are we at the top of the market?”  It’s a good question.  An even better question is why they think I would know any better than any schmo on the street, but we’ll set that aside for the moment. Last year I wrote an article titled...

Interest Rates – Steady As She Goes

Interest rates have been pretty much rock-steady now for so long it’s almost hard to find something interesting to write about.  When we last looked at them in late March wholesale rates (red and blue lines on the chart below) were on a strong downward trend, with retail rates (green line) just starting to follow. ...

Will Fannie and Freddie Go Away?

Exactly two years ago I wrote a column about Fannie Mae and Freddie Mac (AKA The Agencies, or GSEs) and the efforts to dismantle them for political reasons.  Fortunately for those who own homes, those who may want to buy homes, and those who sell homes for others, nothing ever came of those efforts –...

Pressure is Rising on Interest Rates

I track mortgage interest rates by tracking mortgage-backed securities (bonds) because the yield that investors want to earn by investing in mortgages ultimately ends up driving the interest rate you pay. I like to track the U.S. 10-year treasury bond too because it is very easy to track in real time (even over the course...