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Home Loan Blog Articles from Golden Pacific Home Loans of San Ramon
Stay informed and learn more about home loan matters and housing market from our home loan blog articles below. Scroll down to the Categories section or to the bottom of this page to see more home loan blog articles.
Contact our Golden Pacific Home Loan agents in San Ramon for questions about best home loan mortgage and refinance opportunities.
Reverse Mortgage Can Help Multiple Needs
Seniors with houses worth more than $625,500 can retain their excess equity when they take out a HECM reverse mortgage to help meet certain financial challenges with careful considerations and planning.
Refinance Your Home Mortgage – Should You?
Attractive interest may often prompt homeowners to consider refinancing. The best time to refinance may depend on your short-term or your long-term goals. Should you refinance?
Mortgage Rate Affected by Inflation Rate
Lately, 30-year home loan rates have been running about 2.5 percent above the inflation rate. If inflation rises from 1 percent to 2 percent, it would imply mortgage rates of about 4.5 percent.
Home Price Gains Cooling
The pace of home price appreciation does finally appear to be slowing. The year began with a 6.9 percent gain over the previous January; but 5.7 in June.
Mortgage Rates Going Up
Mortgage rates moved higher at the fastest pace in more than 3 weeks today, following a much stronger-than-expected jobs report.
Mortgage Application Stats
Mortgage applications sagged during the week ended July 29. Market Composite Index and all of its components were down from levels during the week ended July 22.
Boomerang Home Buyers
Of the 4.4 million owner-occupied foreclosures completed since 2000 less than one-quarter of the owners have returned to the market.
Rental Appreciation
As the housing boom ended rents for single-family homes also crashed, going from annual growth of better than 2 percent in late 2007 to -3 percent by the end of 2009. But they began to bounce back long before home sales and prices did so, climbing rapidly into the 4 percent growth range and remaining there for several years.
Documenting Your Assets
When buying a home, it is not enough to just “come up” with the money. Lenders want to verify where the money comes from. This is partially a quality control feature to protect against fraud, and partially an underwriting tool to determine your qualifications as a borrower.
Important Factors When Applying for a Home Loan
Lenders want to see an applicant who is credit worthy and can show ability to repay. Here are the 3 important factors.
Housing Data Looks Good
Purchases of new U.S. single-family homes just hit their highest level in more than eight years, representing what Wall Street is calling a strong market.
New Home Sales
Other data on Tuesday showed moderate gains in house prices in May, which should support consumer spending and keep home purchasing affordable, especially for first-time buyers who have started venturing into the housing market.
Brexit Turns Out To Be Good For The US
Fannie Mae’s economists say that the UK’s exit from the European Union is likely to have only limited impact in the U.S. and that it will be a positive for the housing and mortgage markets, at least in the near term.
More Foreign Investment in the U.S. Real Estate
Foreign investment interests and other large institutional funds that were drawn to London real estate investments may now shift some of that capital to properties in the U.S. market.
Mortgage Rates Increase Slightly
30-year fixed-rate mortgage rose to 3.45 percent from 3.42 percent last week. The average rate is down sharply from 4.04 percent a year ago.
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