San Jose, Bay Area and California Mortgage Blog

Here's how you can claim your $8000 First Time Home Buyer Credit. The video that I created also talks about how a repeat buyer can claim the $6500 Home Buyer Credit. If you have any questions about Home Buyer Tax Credit watch this Video blog.

As reported in my blog posted on Jan 14th the California governor is considering to extend the $10,000 First-Time Home buyer Tax Credit that expired last year. Here is the link to that blog post that gives you all the details - CA Proposes extension of $10,000 First-Time Home Buyer Tax Credit. He...

The great author and speaker Og Mandino once said, "I will act now. I will act now. I will act now." This is great advice for prospective homebuyers over the next 45 days, as two key government programs that have kept home ownership more affordable than ever wind down to their completion. First,...

Weekly update on San Jose Mortgage Rates and other economy news that may have an impact on Mortgage Rates. Last Week: Freddie Mac in its Primary Mortgage Market Survey® reported that 30-year fixed-rate mortgage averaged 4.97 percent with an average 0.7 point for the week ending March 4, 2010. La...

The California Housing Finance Agency (CalHFA) today announced that it will develop innovative initiatives to use nearly $700 million in new federal funding to help California’s neediest homeowners struggling with mortgages payments remain in their homes. In addition to California, the funds wil...

Weekly commentary of Sunnyvale, CA Mortgage Rates, Housing Trends and top Economy news. The week that was: Freddie Mac in its Primary Mortgage Market Survey® reported that the 30-year fixed-rate mortgage (FRM) averaged 4.93 percent with an average 0.7 point for the week ending February 18, 2010....

The Mortgage Rates for a 5 Year adjustable rate mortgage (ARM) sank to 4% (and lower in some cases)* yesterday for California homes. Freddie Mac average rates released on yesterday reported 5 Year ARM at 4.27% at 0.6 points. But the rate improvements later in the day has opened up great opportun...

Elimination of Spot Approvals and some other major changes for FHA loans for San Jose Condominiums. I. Elimination of “Spot Loan” Approval Process Earlier, if a condo project was not approved by FHA, a "spot approval" was allowed just for financing one unit. Now the entire project has to be appr...

San Jose Mortgage Rates and economy weekly commentary. I review last week and preview the week ahead for news items that can affect mortgage rates. The Week that was: Freddie Mac reported in its Primary Mortgage Market Survey® that 30-year fixed-rate mortgage (FRM) averaged 4.98 percent with an ...

The Fed's statement today does not augur well for California Mortgage Rates. The Fed's policy-setting committee stuck to a plan to end its purchases of mortgage securities by the end of March. Background - The program to purchase agency mortgage-backed securities (agency MBS)  was announced by t...