No Bull Agent

Mortgage Market Update: Volatile market makes locking best rate tough

Information in this post is provided by Greg Wickstrand, Home Loan Consultant for HomeServices Lending.  He is a guest blogger who provides us information from a lender’s perspective.  For additional posts by Greg, please visit his BLOG.

What’s Ahead for Mortgage Rates this Week:  September 27, 2010
By:  Greg Wickstrand

Mortgage markets improved last week as markets digested a bevy of data from the housing sector, plus the scheduled Federal Open Market Committee meeting.

In back-and-forth trading, conforming mortgage rates bottomed out Wednesday before rising through Friday’s afternoon close. Rates still managed to eke out improvement on the week overall.

According to Freddie Mac, mortgage rates remain near their lowest levels of all time.

Despite low rates, however, rate shoppers are finding it a challenge to lock the “best price”. This is because Wall Street is conflicted about the future of the U.S. economy and, as a result, mortgage pricing has been extra volatile.

For as much data that points to economic growth, there are numbers that suggest a pullback, too. Traders are undecided in either direction and mortgage pricing reflects it. Read the rest of this entry »

Tags: california, case-shiller index, consumer confidence, market, mortgage rate, san diego

Join us Friday morning for the 2nd Annual St. Vincent School Pancake Breakfast

Are you hungry for a homemade pancake breakfast and want to support a local San Diego school at the same time?  Join The Kaplan Office at the second annual St. Vincent School Pancake Breakfast.  The breakfast will be held Friday, September 24 at St. Vincent School from 6:30 to 8:30 AM.  The cost is $4.00 and includes homemade pancakes, ham, juice, coffee and fresh fruit.  All proceeds go to benefit St. Vincent School which is located at 4061 Ibis Street  in Mission Hills.  St. Vincent School is a Catholic, coeducational elementary school that was founded in 1943.  The students, faculty, staff and parents are excited to continue with this fantastic tradition.  For questions, please contact (888) 466-2855 and we look forward to seeing you.

Tags: kaplan office, mission hills, no bull agent, pancake breakfast, san diego, st vincent school

Mortgage Market Update: Will Tuesday’s housing starts report show an increase?

Information in this post is provided by Ron McGowan, Senior Mortgage Consultant with PrimeLending.  He is a guest blogger who provides us information from a lender’s perspective.  For additional information on Ron, please visit his website at ILoanSanDiego.com.

Inside Lending Newsletter from Ron McGowan for the week of September 20, 2010

Market Update
INFO THAT HITS US WHERE WE LIVE…Fannie Mae released a survey showing 70% of those polled in June and July feel now is a good time to buy a home.  This is up from a 64% reading in January.  At the same time, 83% of those surveyed think it’s a bad time to sell, which isn’t such a terrible thing, since there’s still plenty of inventory for buyers to choose from.

Another group of industry observers concluded that sales of existing homes hit bottom in July and will rebound in the fall.  They based this on recent reports for purchase mortgage applications and pending home sales, which track signed purchase contracts for existing homes.

The fact remains, homes are now more affordable for more people than they’ve been in years.  Today’s historically low mortgage rates make monthly payments much easier to work into the family budget.  Read the rest of this entry »

Tags: california, home buyer, ken kaplan, market, mortgage, no bull agent, san diego, update