Real Estate News

Have you seen the latest move in mortgage rates?

The usual economic factors at home are playing a role, but it's the rest of the world that really has things moving. Specifically, the recent Brexit—the Brit's vote to leave the European Union—has sent ripples through global markets. No one knows for sure how this will play out. However, that uncertainty has had many investors buying what's often thought of as "Safe Haven" bonds, pushing interest rates lower.

What may matter most to you is the end result: 

Rates are published weekly by Freddie Mac and represent the average interest rate a lender would charge to lend mortgage money to a qualified borrower exclusive of the fees and points required by the lender. This rate applies only to conventional financing on conforming mortgages with loan-to-value rates of 80 percent or less. Rates can change at any time.

Pretty impressive, isn’t it?

Of course, we never know when something will trigger a climb back up. If you’re not already taking a look, let’s explore the options that meet your home financing needs.

And if you ever know anyone else looking to refinance, purchase or sell, we are here to help them, too.

Thank you!

Marla Sarkozy 408.718.8842

Economic Update: Fed postpones rate hike; Americans optimistic about economy; home sales up in West; California experiences strong growth!

CNBC: Homebuilders Finally Feel More Positive
By Diana Olick
After sitting tight for four straight months, confidence among U.S. homebuilders improved in June. A monthly survey of builder sentiment from the National Association of Home Builders (NAHB) rose two points to 60. Anything above 50 is considered "positive" sentiment.  

Wall Street Journal: Obama Administration Unveils Proposed Changes to Section 8 Subsidy Program
By Laura Kusisto
The Obama administration on Wednesday proposed sweeping changes to the biggest federal subsidy program for low-income renters in an effort to encourage more poor renters to move to wealthier neighborhoods.  

HousingWire: California Bill to Protect Surviving Homeowners Up For Vote
By Hyepin Im and Kevin Stein
California's Homeowner Bill of Rights went into effect in 2013 and stopped mortgage servicers from engaging in abusive practices that were leading to unnecessary foreclosures on families throughout California. However, some homeowners, mostly senior, recently widowed women, are finding that banks and servicers refuse to extend the consumer protections included in HBOR to them. 

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