30-year fixed rate under 3.25%?

Well, not exactly, but CalHFA’s Mortgage Credit Certificate income increased yesterday to $57,840 for a Sacramento family of one or two people, and to $72,300 for families of three or more effective yesterday! How is this under 3.25%?  Well on a $200,000 loan at 4.5%, the government actually pays $150 of the mortgage payment via a tax credit!  That’s the equivalent of lowering [...]

By |2014-08-28T00:29:53-08:00January 8th, 2014|Popular Topics|Comments Off on 30-year fixed rate under 3.25%?

Just What Makes Mortgage Rates Go Up… Or Go Down?

This seems like such a simple thing.  After all there has to be some way to predict what's going to happen?!  If you read the newspaper, listen to the radio or watch TV there is always someone telling you that rates are going up or down.  So what's the secret?  Well, there really isn't any [...]

By |2010-01-06T17:03:56-08:00January 6th, 2010|Loan Talk|Comments Off on Just What Makes Mortgage Rates Go Up… Or Go Down?

Just what is an Annual Percentage Rate?

This is a very interesting question - especially in light of how important everybody from idiotic politicians to equally uninformed journalists seem to think it is.  Personally I've never met ANYONE who actually knows what it is outside the lending industry, and surprisingly most people IN the lending industry don't really understand it. So what [...]

By |2010-01-06T16:32:45-08:00January 6th, 2010|Loan Talk|Comments Off on Just what is an Annual Percentage Rate?
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