Consumer Sentiment: Moving Forward!

Consumer confidence declined in September, rebounded in October and jumped more than two points in a preliminary November estimate, beating economic forecasts and hitting a more than seven-year high. The Thomson Reuters/University of Michigan Index of Consumer Sentiment registered 89.4 in a mid-month reading, the best showing since July 2007. Economists had forecast the measureContinue

HELOCs the next home credit product?

Highest level of home equity loans since June 2009. A total of 797,865 home equity lines of credit were originated nationwide, up 20.6% from a year ago and the highest level since the 12 months ending June 2009, according to RealtyTrac. The report also shows HELOC originations accounted for 15.4% of all loan originations nationwideContinue

Home sales show encouraging stats

Existing home sales, excluding distressed sales, are the most encouraging stats at the moment. These, according to Trulia and the National Association of Realtors, were 80 percent back to normal in August. Trulia’s Bubble Watch also showed that prices were 3.4 percent undervalued in the third quarter, which is a marked improvement over the 13.5 percentContinue

September: Highest Consumer Confidence

Consumer confidence reached its highest level since the Great Recession in September, according to the Thomson Reuters and University of Michigan Surveys of Consumers. September’s increase in consumer confidence is the result of optimistic outlooks on the overall economy and personal incomes.  The consumer expectations index rose 5.8 percent over the month of September, while theContinue

FHFA outreaching more Homeowners

In an effort to sign more eligible homeowners up for the Home Affordable Refinance Program (HARP), the Federal Housing Finance Agency (FHFA)   is holding its third HARP outreach event in October, 2014. The goal is to get the word out about HARP to borrowers who are current but underwater, and help borrowers who are either delinquentContinue

New homes sales see biggest monthly jump!

Sales of new single family houses in August 2014 were at a seasonally adjusted annual rate of 504,000, up from July’s printing of 427,000, the fastest rate in six years and the biggest monthly jump since January 1992. The biggest gains and by far the reason for the big increase were new home sales inContinue

Jumbo Loans Cheaper and Easier to Get!

Wealthy home buyers are paying lower average rates on high dollar loans, and in some cases, they don’t even have to worry about a large down payment or mortgage insurance. For months, lenders of jumbo mortgages have been charging interest rates that are lower  than what average borrowers pay. Jumbo loans are mortgages that above $417,000Continue

Orange County the third and Los Angeles the ninth most expensive housing market in the U.S.

According to the newest report from the National Assn. of Realtors, Orange County is considered the third and Los Angeles the ninth most expensive housing markets in the U.S., this measured the median price of homes sold in the second quarter.    Orange County’s median —          the point at which half of homes sold for more and half forContinue

Why this is a great time to sell your home?

Selling a house is a big decision, and there will be many factors in your decision to put your house on the market. The key is to not have to sell your house until the timing is right, at a time of the year when the market is hotter. When is a great time toContinue

Before you start looking for a home!

Get pre-qualified! Banks, credit unions and mortgage bankers make home loans; mortgage brokers process them. The lender will take an application, process the loan documents, and see the loan through to the funding stage. If you have less than perfect credit, talk to your lender. A lender should be able to advise you on whetherContinue