Action Lending - Mortgage News

Shut Down Averted?

It looks like a Government shutdown was averted. Now we get to see the fight over getting the Billions back from the State of California over the Bullet Train.

The stock market was up today over optimism over the China Tariff talks.

10 YEAR BOND YIELD AND RATES

The yield on the 10 year bond is at 2.64% at close today unchanged from last Friday. Rates have been flat.

Question of the day 

How much will the attorneys make in filing litigation trying to stop alternative funding for the Barrier/Wall?

FORWARD THIS TO YOUR FRIENDS, SUBSCRIBE FOR FREE DOWN BELOW AND IF YOU HAVE ANY MORTGAGE OR REAL ESTATE QUESTIONS GIVE ME A CALL OR SEND ME AN EMAIL, TAKE CARE.

Posted in:General
Posted by Gene Tidgewell on February 15th, 2019 5:15 PM
Global Slowing
The European Union has downgraded their growth projection for the year to 1.3 % and England is projecting their slowest growth since 2009 as concerns about a slowdown in economies around the world grow.
In addition the market is concerned as the trade talks with China slow raising concerns about the tariff issue.

10 YEAR BOND YIELD AND RATES
The yield on the 10 year bond is at 2.64% this morning virtually unchanged from last Friday. Rates have been flat.

Question of the day  
How are the Democrats going to get all of those candidates in the debates? 
The Republicans could not 2 years ago and they had fewer candidates.

FORWARD THIS TO YOUR FRIENDS, SUBSCRIBE FOR FREE DOWN BELOW AND IF YOU HAVE ANY MORTGAGE OR REAL ESTATE QUESTIONS GIVE ME A CALL OR SEND ME AN EMAIL, TAKE CARE.

Posted in:General
Posted by Gene Tidgewell on February 8th, 2019 4:37 PM

10 YEAR BOND YIELD

The yield on the 10 year bond is at 2.63% this morning. It was at 2.76% two week ago.  It has fluctuated some in the last two weeks but is looking pretty good. Rates remained good.

JOBS REPORT

The jobs report was strong today at 304,000 jobs added, more than expected of 172,000. The unemployment rose to 4.0 % from 3.9 % and year over year wage growth was 3.2 % which is a better number than we have been seeing. The job participation rate increased from 63.1 % to 63.2 % which is the first time it has been at 63 % or higher since early last year.

FORWARD THIS TO YOUR FRIENDS, SUBSCRIBE FOR FREE DOWN BELOW AND IF YOU HAVE ANY MORTGAGE OR REAL ESTATE QUESTIONS GIVE ME A CALL OR SEND ME AN EMAIL, TAKE CARE.

Posted in:General
Posted by Gene Tidgewell on February 1st, 2019 4:24 PM

Purchasing a Home with a Reverse Mortgage

Did you know that if you are over 62 and have a sufficient down payment you can purchase a home and instead of financing it with a traditional forward mortgage you can obtain a Reverse Mortgage and not have monthly mortgage payments. For example, assume you are 65 and if you sold your old home for $700,000 and netted $500,000. Rather than putting all $500,000 into a new home for $500,000 you could obtain a Reverse Mortgage for $229,500. You would not have monthly mortgage payments and would just have to make you tax and insurance payments and retain the balance of your sales proceeds in savings. For further information please give us a call.

10 YEAR BOND YIELD

The yield on the 10 year bond is at 2.76% this morning. It was at 2.69% a week ago.  The increase again is primarily due to rumors on the trade negotiations with China that an agreement may be close at hand. The partial shutdown and the so so earnings reports so far have not been much of a drag as the stock market is  back up over 24,500.

RATES

With the improvement in the stock market over the Chinese trade rumors do not expect any short term rate decreases for now. Trend will continue sideways with possibility of some upward movement.

Right now the Fed is expected to raise the Fed Funds rate twice during the year to 3.0 %. A decision to raise it more than that or not raise the Fed Funds rate that much will affect the rate market pretty significantly.

FORWARD THIS TO YOUR FRIENDS, SUBSCRIBE FOR FREE DOWN BELOW AND IF YOU HAVE ANY MORTGAGE OR REAL ESTATE QUESTIONS GIVE ME A CALL OR SEND ME AN EMAIL, TAKE CARE.

Posted in:General
Posted by Gene Tidgewell on January 18th, 2019 4:10 PM
10 YEAR BOND YIELD
The yield on the 10 year bond is at 2.69% this morning. It was at 2.63% a week ago and shot up over 2.70 % during the week. That was due primarily to improvement in the stock market on word that the negotiations with China on tariffs are making progress.

RATES
Although we have seem improvement in rates over the last few weeks  they are expected to move sideways as the Fed has assured markets with a more dovish tone on rate increase.

Rates remain improved over last fall and some lenders are getting more aggressive in their pricing.

HOME VALUES
The California Association of Realtors for 2019 expects the increase in median home prices to be about 3.1 %. This is definitely a cool off from the last few years. Housing markets will remain tight as there is not enough entry level housing to prime the pump and spur upward movement by people. In addition after the last recession people are more cautious in moving up the housing pyramid.

FORWARD THIS TO YOUR FRIENDS, SUBSCRIBE FOR FREE DOWN BELOW AND IF YOU HAVE ANY MORTGAGE OR REAL ESTATE QUESTIONS GIVE ME A CALL OR SEND ME AN EMAIL, TAKE CARE.

Posted in:General
Posted by Gene Tidgewell on January 11th, 2019 3:21 PM

HOME EQUITY CONTINUES TO INCREASE

Since 2012 the median home price has increased 51 %. Projections for 2019 are that demand is expected to be weaker and CAR (California Association of Realtors) predicts the median home price in California will increase 3.1 % next year as compared with 7 % in 2018.

That is still a decent increase in equity.

What are people doing with that equity?

You can sit on it. You can consolidate other debt and reduce your interest rate. You can invest in another piece of property. You can retire student debt. You can help pay for your child’s education. You can do home improvements to increase the value of your home. Do not take it and go to Las Vegas and bet one time Red or Black on the Roulette Table.

Give us a call and we can help you determine if it makes financial sense.

LOAM LIMITS INCREASE

The new Fannie Freddie loan limits are out and have increase substantially.

For Orange and Los Angeles Counties single family loan limits have increased from $453,100 to $484,350 and High Balance conforming loam limits increased from $679,650 to $726,525. If you currently have a jumbo loan check your balance and maybe you can refinance into a conforming loan and save money.

HUD has announced that REVERSE MORTGAGE loan limits will increase this year also to $726,525.

TEN YEAR BOND YIELD

The yield on the 10 year bond is at 2.63% this morning. It peaked at 3.23% in both September and October. It is down another 27 Basis Points since the middle of December. RATES CONTINUE TO FALL. THEY HAVE DROPPED OVER 0.5 % IN THE LAST 4 WEEKS.

THE FED IS EXPECTED TO INCREASE RATES TWICE IN 2019.

FORWARD THIS TO YOUR FRIENDS, SUBSCRIBE FOR FREE DOWN BELOW AND IF YOU HAVE ANY MORTGAGE OR REAL ESTATE QUESTIONS GIVE ME A CALL OR SEND ME AN EMAIL, TAKE CARE.

Posted in:General
Posted by Gene Tidgewell on January 4th, 2019 3:09 PM
LOAM LIMITS INCREASE
The new Fannie Freddie loan limits are out and have increase substantially. For Orange and Los Angeles Counties single family loan limits have increased from $453,100 to $484,350 and High Balance conforming loam limits increased from $679,650 to $726,525. If you currently have a jumbo loan check your balance and maybe you can refinance into a conforming loan and save money.

It is expected that HUD will soon announce that REVERSE MORTGAGE loan limits will increase this year also to $726,525.

TEN YEAR BOND YIELD
The yield on the 10 year bond is at 2.90% this morning. It peaked at 3.23% in both September and October. AS A RESULT MORTGAGE RATES ARE DOWN TO THEIR LEVELS THIS SUMMER.

THE FED MEETS NEXT WEEK
The market has already priced in an expected increase in the Fed Funds Rate but will be paying close attention to the announcement and to Chairman Powell’s press conference to assess how many increases we may see next year.

But long term is still for rates to increase so if you are planning on consolidating an equity line that has started to amortize or want to borrow some cash out of your home for improvements you should consider doing that sooner rather than later.

College Football Bowl season is starting and the Playoffs will start on 12/29.

FORWARD THIS TO YOUR FRIENDS, SUBSCRIBE FOR FREE DOWN BELOW AND IF YOU HAVE ANY MORTGAGE OR REAL ESTATE QUESTIONS GIVE ME A CALL OR SEND ME AN EMAIL, TAKE CARE.

Posted in:General
Posted by Gene Tidgewell on December 14th, 2018 4:53 PM

LOAN LIMITS TO INCREASE

The new Fannie Freddie loan limits are out and have increase substantially.

For Orange and Los Angeles Counties single family loan limits have increased from $453,100 to$484,350 and High Balance conforming loam limits increased from $679,650 to $726,525. If you currently have a jumbo loan check your balance and maybe you can refinance into a conforming loan and save money.

For those of you who live in Counties with lower conforming loan limits we have a lender that will do high balance conforming loans of $726,525 in all counties.

 

The yield on the 10 year bond is at closed below 3.00 %. The yield is at 2.993 %. It peaked at 3.23% in both September and October

But long term is still for rates to increase so if you are planning on consolidating an equity line that has started to amortize or want to borrow some cash out of your home for improvements you should consider doing that sooner rather than later.

All of the College Conference Championship games this weekend. Then we will know who is in the Bowl Series College Playoffs. The FBS playoffs are entering their second week. Some good football there.

FORWARD THIS TO YOUR FRIENDS, SUBSCRIBE FOR FREE DOWN BELOW AND IF YOU HAVE ANY MORTGAGE OR REAL ESTATE QUESTIONS GIVE ME A CALL OR SEND ME AN EMAIL, TAKE CARE.

Posted in:General
Posted by Gene Tidgewell on November 30th, 2018 5:08 PM

We are doing something a little different today! The first person who emails me at gene@actionlending.com and identifies the movie the attached clip is a spoof of will win a free appraisal for a new loan submission to Action Lending after 11/11/18.

Have a Happy Veteran’s Day and remember why we celebrate it !




FORWARD THIS TO YOUR FRIENDS, SUBSCRIBE FOR FREE DOWN BELOW AND IF YOU HAVE ANY MORTGAGE OR REAL ESTATE QUESTIONS GIVE ME A CALL OR SEND ME AN EMAIL, TAKE CARE.

Posted in:General
Posted by Gene Tidgewell on November 9th, 2018 5:05 PM

The yield on the 10 year opened the week at 3.185% and is at 3.079% as of this writing. That is a nice improvement caused by the decline in U S Stocks and concerns overseas especially in Italy.

Rates had moved up some but we have seen some improvement in conforming rates with the decline in the 10 year bond and increase in the Mortgage Backed Securities.

But long term is still for rates to increase so if you are planning on consolidating an equity line that has started to amortize or want to borrow some cash out of your home for improvements you should consider doing that sooner rather than later.

Some great games this weekend. Notre Dame Takes on Navy is San Diego in an always tough game and Stanford hosts Washington State and USC hosts Arizona State.

FORWARD THIS TO YOUR FRIENDS, SUBSCRIBE FOR FREE DOWN BELOW AND IF YOU HAVE ANY MORTGAGE OR REAL ESTATE QUESTIONS GIVE ME A CALL OR SEND ME AN EMAIL, TAKE CARE.

Posted in:General
Posted by Gene Tidgewell on October 26th, 2018 3:47 PM

Archives:

Categories:

My Favorite Blogs:

Sites That Link to This Blog: