tag:blogger.com,1999:blog-23601606778891242732024-02-20T22:49:48.347-08:00Michael James Hansen | CA MORTGAGE BROKERImportant relevant mortgage news you can use. Every post is typed by Michael Hansen, a California Mortgage Broker, unless another credit is mentioned. Michael James Hansenhttp://www.blogger.com/profile/08758236410712253276noreply@blogger.comBlogger296125tag:blogger.com,1999:blog-2360160677889124273.post-79342844526413241702022-09-27T13:13:00.001-07:002022-09-27T13:13:03.252-07:00Mortgage rates are insanely high Mortgage rates are insanely high Right now but if you need to refinance for whatever reason or purchase I can save you a lot of money and I’m still breathing.Reply back to this email for inquiries please.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2360160677889124273.post-28393439052693797302022-07-05T05:51:00.003-07:002022-07-05T05:51:28.597-07:00Will mortgage rates hit 7% in near future? Here’s what the chief economist of the National Association of Realtors says about thatMortgage rates have been on a steady climb upwards: While they started the year at around 3.5% for a 30-year fixed-rate mortgage, they’ve since climbed above 6%, Bankrate data shows. And some pros say that upward march could continue. (You can see the lowest rates you may qualify for here.) “There’s not much reason to expect rates to drop in the near term,” says Zillow senior economist Jeff Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2360160677889124273.post-40343966749143337452022-06-01T08:20:00.005-07:002022-06-01T08:20:56.639-07:003 reasons to get cash from your home 3 reasons to get cash from your homePro tips for tapping your home’s equity Renovate your homeFund home improvements or make necessary upgrades to your home. Pay off high-interest debtRates tend to be much lower than credit card interest rates, saving you more over time. Increase your credit scoreReduce your credit utilization ratio and build your credit Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2360160677889124273.post-75769166618140777602022-05-23T23:20:00.005-07:002022-05-23T23:20:40.778-07:00Housing Inventory May 23rd Update: Inventory UP 8.2% Week-over-week Inventory usually declines in the winter, and then increases in the spring. Inventory bottomed seasonally at the beginning of March 2022 and is now up 43% since then.Click on graph for larger image in graph gallery.This inventory graph is courtesy of Altos Research.As of May 20th, inventory was at 344 thousand (7-day average), compared to 318 thousand the prior week. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2360160677889124273.post-68363630395866042352022-03-19T21:04:00.002-07:002022-03-19T21:04:17.347-07:00Federal Reserve approves first interest rate hike in more than three years, sees six more ahead The Federal Reserve on Wednesday approved its first interest rate increase in more than three years, an incremental salvo to address spiraling inflation without torpedoing economic growth.After keeping its benchmark interest rate anchored near zero since the beginning of the Covid pandemic, the policymaking Federal Open Market Committee said it will raise rates by a quarter percentage Michael James Hansenhttp://www.blogger.com/profile/08758236410712253276noreply@blogger.comtag:blogger.com,1999:blog-2360160677889124273.post-14941743399583179082022-03-12T13:24:00.003-08:002022-03-12T13:24:40.136-08:00Mortgage Applications Down 13%Credits: CNBCTotal mortgage applications decreased 13.1% last week to the lowest level since December 2019The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 4.06% from 4.05%Applications to refinance dropped 15% weekly and were 56% lower than one year ago.Share Article via TwitterShare Article via LinkedInShare Article Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2360160677889124273.post-44859686344208285992022-03-12T13:14:00.003-08:002022-03-12T13:14:50.407-08:00Inflation Accelerates in February as Energy Prices Jump, but Labor Market Indicators Remain StrongCredits: Fannie Mae Housing WireThe Consumer Price Index (CPI) increased 0.8 percent in February and 7.9 percent on an annual basis, the fastest in 40 years, according to the Bureau of Labor Statistics (BLS). Energy prices rose 3.5 percent over the month, led by a 6.6 percent jump in gasoline prices as oil prices increased. In part due to these higher oil prices, food at home prices rose 1.4Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2360160677889124273.post-73365948942210943942021-11-09T10:12:00.006-08:002022-03-20T03:52:38.893-07:00UPDATED COMPANY LICENSE (NMLS) Nationwide Mortgage Licensing SystemWholesale Mortgage Broker Michael James Hansen:344532(CDRE) California Department of Real EstateBroker:01885141Michael James Hansenhttp://www.blogger.com/profile/08758236410712253276noreply@blogger.comtag:blogger.com,1999:blog-2360160677889124273.post-83922052628022968152021-11-01T11:59:00.006-07:002021-11-01T11:59:52.932-07:00FHFA to permanently allow desktop appraisals: How can it make the mortgage process easier? The Federal Housing Finance Agency (FHFA) Acting Director Sandra Thompson announced at the Mortgage Bankers Association (MBA) conference in San Diego that it will allow lenders to use desktop appraisals for conventional loans. These alternative valuation products will improve the homebuying process for many borrowers.During the COVID-19 pandemic, the FHFA began allowing for more Michael James Hansenhttp://www.blogger.com/profile/08758236410712253276noreply@blogger.comtag:blogger.com,1999:blog-2360160677889124273.post-26263557924629707472021-10-28T09:37:00.001-07:002021-10-28T09:37:26.306-07:00How To Hit The Low Spot When you think about refinancing, you may ask yourself, when is the best time to lock my rate? How do I find the low spot to get the best deal? I have only been negotiating rates with wholesale lenders for a decade but in my experiance the best choice has always been the same since I started, choose the lowest rate for free, take it right away, and wait for the next rate drop. We neverMichael James Hansenhttp://www.blogger.com/profile/08758236410712253276noreply@blogger.comtag:blogger.com,1999:blog-2360160677889124273.post-19208525610777482902021-10-28T08:51:00.002-07:002021-10-28T08:51:32.301-07:00What Is A 7/6 ARM? 7/6 ARM: A 7/6 ARM loan has a fixed rate of interest for the first 7 years of the loan. After that, the interest rate will adjust once every 6 months over the remaining 23 years.Michael James Hansenhttp://www.blogger.com/profile/08758236410712253276noreply@blogger.comtag:blogger.com,1999:blog-2360160677889124273.post-22731090281936910422021-10-13T10:57:00.006-07:002021-10-13T10:57:32.468-07:00Mortgage Rates In October Are Spooky Low, Here Are Some Rates and Costs Available Today The lowest rate on a 30 year fixed for 0 points and 0 cost that I funded was 2.5% on a 30 year fixed. You would need the best case scanario to get that rate. Loan amount over $400k and 40% equity, Single Family Home, that you occupy as your primary home. Most people with the best case scanario were able to obtain 2.69% and 2.75% for no cost on a 30 year fixed. We introduced a new Michael James Hansenhttp://www.blogger.com/profile/08758236410712253276noreply@blogger.comtag:blogger.com,1999:blog-2360160677889124273.post-44986238398046260662021-10-01T10:35:00.001-07:002021-10-01T10:35:09.287-07:00Effort To Manipulate The Housing MarketI’m not sure if you’re subscribed to these guys who create videos about the housing market but I thought this was interesting enough to share. It discusses how big companies are buying houses in an effort to manipulate the housing market, change comps, and thus earn more of a profit. The video is only a few minutes long so if you have the opportunity, I’d love your feedback.Michael James Hansenhttp://www.blogger.com/profile/08758236410712253276noreply@blogger.comtag:blogger.com,1999:blog-2360160677889124273.post-6301495822459022612021-08-21T08:12:00.002-07:002021-08-21T08:12:00.197-07:00New Refi Program Aims to Help Lower-income Owners Save Fannie Mae will launch RefiNow this week, which could help lower-income homeowners save hundreds of dollars a month on their mortgage payments.The program, which begins June 5, aims to help about 2 million homeowners lower the interest rates on their mortgages. Eligible homeowners could save an estimated $100 to $250 a month, according to the Federal Housing Finance Agency, Fannie Mae’s Michael James Hansenhttp://www.blogger.com/profile/08758236410712253276noreply@blogger.comtag:blogger.com,1999:blog-2360160677889124273.post-74943855546426616732021-08-17T10:39:00.000-07:002021-08-17T10:39:03.832-07:00Slap in the face’: Lobbyists fume at Biden eviction reversal President Joe Biden’s move to reinstate a federal eviction moratorium Tuesday after letting it lapse days earlier marked a huge political loss for the National Association of Realtors and its housing industry allies.President Joe Biden’s stunning decision to revive the eviction ban in response to intense pressure from progressives has left one of Washington’s most influential business Michael James Hansenhttp://www.blogger.com/profile/08758236410712253276noreply@blogger.comtag:blogger.com,1999:blog-2360160677889124273.post-18943358406636961432021-08-17T10:21:00.007-07:002021-08-17T10:21:31.154-07:00White House replaces regulator overseeing U.S. mortgage giants following Supreme Court ruling The White House replaced the regulator who oversees mortgage giants Fannie Mae and Freddie Mac, following a Supreme Court ruling that paved the path for President Biden to put his own regulator at the top of the Federal Housing Finance Agency.The Biden administration moved Mark Calabria, a Trump appointee and libertarian economist, out of the job. On Wednesday night, the White House Michael James Hansenhttp://www.blogger.com/profile/08758236410712253276noreply@blogger.comtag:blogger.com,1999:blog-2360160677889124273.post-2472042620187178572021-08-17T09:54:00.001-07:002021-08-17T09:54:21.395-07:00Freddie Mac launches new home renovation mortgage, here's how to get oneFreddie Mac on Thursday introduced its new mortgage product, the CHOICEReno eXPress mortgage, which will allow homebuyers and homeowners to pay for home renovations by funding the project through their mortgage purchase or refinance. Freddie Mac said this will save homebuyers and homeowners time and money, and give them the funds they need for home renovations at low cost with no extra fees Michael James Hansenhttp://www.blogger.com/profile/08758236410712253276noreply@blogger.comtag:blogger.com,1999:blog-2360160677889124273.post-77428613571678398822021-08-17T09:34:00.002-07:002021-08-17T09:34:13.246-07:00We just improved Jumbo Smart loans in a big way. We only need one appraisal. Max loan amount increased from $2 million to $2.5 million. LTV cap increased from 80% to 89.99%. Max allowed DTI increased from 40% to 45%. Minimum FICO score lowered from 700 to 680. No more $500,000 cash-out limits. They’re now unlimited as long as requirements are met. Michael James Hansenhttp://www.blogger.com/profile/08758236410712253276noreply@blogger.comtag:blogger.com,1999:blog-2360160677889124273.post-33889101371253266612021-05-13T11:07:00.003-07:002021-05-13T11:07:42.424-07:00If You Like Your Friends, Send Them My Information Or send them a quote from me, by letting me know about how much they owe, and the value of their home, that's all I need in most cases. Reply to this email to ask me for a quote. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2360160677889124273.post-50847477063363360542021-05-12T12:42:00.002-07:002021-05-12T12:43:22.278-07:00Fannie and Freddie set dates for their new refi optionFirst I want to say, most of you reading this, will not need this, if you're a client of mine, you have good equity unless you just purchased the home. But if values fall, you might want to use this. I don't think they will be falling anytime soon and when they do, you better grab what you can, because they are going up, up and up.The Federal Housing Finance Agency didn’t have a set date for its Michael James Hansenhttp://www.blogger.com/profile/08758236410712253276noreply@blogger.comtag:blogger.com,1999:blog-2360160677889124273.post-29874594474123316012021-05-11T20:14:00.001-07:002021-05-11T20:14:35.765-07:00There is good news for veterans across the country, an Arizona Bulletin proudly exclaims Snapshot of Arizona Dept. of Real Estate Bulletin 2019-4, pg 12There is good news for veterans across the country, an Arizona Bulletin proudly exclaims. Guest author, retired USAF officer, and Arizona State Director G-11 Varrato II examines the changes to the VA home loans process, including the removal of the Guarantee Cap, and the possibility of veterans and active service members finallyMichael James Hansenhttp://www.blogger.com/profile/08758236410712253276noreply@blogger.comtag:blogger.com,1999:blog-2360160677889124273.post-42790245095803278402021-04-22T14:22:00.003-07:002021-04-22T14:22:13.362-07:00Look How Fast Our Turn Times Are, Rocket Speed Michael James Hansenhttp://www.blogger.com/profile/08758236410712253276noreply@blogger.comtag:blogger.com,1999:blog-2360160677889124273.post-88171639551399818972021-04-15T23:01:00.000-07:002021-04-15T23:01:01.347-07:00It's Official I Work With Cal-Loans Direct Now Cal-Loans Direct is owned by Tom who sat right next to me while we worked at Optimum First Mortgage almost a decade ago. We both left OFM to open our own brokerage around the same time in 2013. The reason I left E Mortgage to work with Tom is that E Mortgage chose to work with UWM and UWM does not allow their partners to work with Rocket Mortgage. Tom and I both feel the same way aboutMichael James Hansenhttp://www.blogger.com/profile/08758236410712253276noreply@blogger.comtag:blogger.com,1999:blog-2360160677889124273.post-31469320738576222742021-04-15T22:31:00.005-07:002021-04-15T22:36:01.241-07:00Pricing, It's Doing What I Said It Would DoIt keeps getting better and better, better all the time. :)
In my opinion, rates will be negative and that's inevitable like Thanos. Home values are dependent on it, and the monetary system is dependent on home values always rising.
There are a million ways to explain how home values are dependent on rates, but I will make it EZ for you, try explaining how they aren’t!
Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2360160677889124273.post-48322924712622595322021-04-07T16:20:00.003-07:002021-04-07T16:20:42.125-07:00JUMBO Just Got BetterLock in more Jumbo Smart loans with HUGE improvements!
Our new Jumbo Smart product just got stronger! Based off of your feedback, we made enhancements to Jumbo Smart, just in time for the heart of purchase season – while rates are still low!
We’ve increased the max loan amounts from $2 million up to $2.5 million.
Only one appraisal is needed!
Raised the LTV cap from 80% all the way up to Anonymousnoreply@blogger.com