The average rate on a “jumbo” mortgage — a loan of more than $729,750 — has fallen nearly a point and a half in a year. It’s no surprise that the average 5.48 percent rate is prompting a wave of refinancings. According to the Mortgage Bankers Association, applications to refinance are now at a 13-month [...]
Because of strife in Greece, Spain and North Korea, conforming mortgage rates are back to all-time lows. They’re at levels not seen in 50 years. For homeowners that missed the Refi Boom of November 2009, this is your second chance. In this well-presented, 3-minute video (below), from NBC’s The Today Show, you’ll get tips on getting [...]
For many the time has come to refinance your existing mortgage. I am not saying that it’s not possible that rates will not go any lower than they are right now. The truth is no one can know for sure how low or high they may go (you have to remember the last time there [...]
I’ve been running a radio ad in the Los Angeles area the past couple of days, tremendous response and majority of the prospects are extremely credit worthy. Here’s a problem I ran into last night while taking a call a 9pm, how would you have advised the client? Mr. Prospect calls about refinancing, he’s currently [...]
With rates on many homeowners’ adjustable-rate mortgages rising, some who would like to refinance into a new loan are finding they can’t. In most cases, it’s because their loan carries a prepayment penalty, which would require them to come up with thousands of dollars if they refinance in the first few years. Pre-payment penalties are [...]
For Sale: Palm Springs
