We all know they story of the boy who cried wolf—if you hear something over and over again, despite how important it might be, it loses its significance the more you hear it.
This has been the case with the mortgage and real estate markets.

Filed under: Existing Home Sales, LA Area, Mortgage Rates, News, Real Estate Market, VRN, West Hollywood | No Comments »

The Federal Reserve on Tuesday said that the risk of a downturn in the nation’s economy had increased, and that it was prepared to use additional policy tools, including extending its period of exceptionally low interest rates, until at least 2013.

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Two weeks ago I suggested that homebuyers be ready to act swiftly if mortgage rates dipped, since most experts are predicting that rates will remain on an upward trend as we look forward. I hope you potential homebuyers out there were listening because mortgage rates did ease last week, and current market conditions have made [...]

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A rebound in mortgage rates from last year’s near-record low has reduced consumer demand for home loans and refinancings, leading Wells Fargo & Co. to join other industry stalwarts in laying off loan processors and related workers.

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“The Obama administration proposes to reduce the “footprint” of Fannie Mae and Freddie Mac by reducing the ceiling on loans that the two government-controlled lenders can guarantee as of October 1, 2011. Current federal law allows the two agencies to guarantee mortgages up to $729,750 in some high-home price areas. The administration recommends that Congress [...]

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After reading the title of this post you may be saying to yourself, “Why would I want rates to rise?” Don’t get us wrong, historically-low mortgage rates have been one of the only things keeping the housing market moving. However, these rock-bottom rates are also an indication of just how poor things are, economically speaking.
That [...]

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Back to The Buying Power of Low Rates

Interest rates are at historic lows. We hear this in the news everyday, but what does it really mean?

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After the conclusion of the Federal Open Market Committee’s (FOMC) one-day meeting on Tuesday, the Fed announced measures that will help serve to keep mortgage rates low if need be:
To help support the economic recovery in a context of price stability, the Committee will keep constant the Federal Reserve’s holdings of securities at [...]

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