Rates and Mortgages 
News updates on average mortgage rates and lending news. These posts are for homebuyers looking for information on current rates. Homeowners can benefit by understanding how rates shape homebuyers decisions.
There are currently 16 blog entries related to this category.
Carlsbad Condo Market Report - April Update
Tuesday, April 24th, 2012 at 10:52am. 41 Views, 0 Comments.
Carlsbad condominium and town home sales are robust in 2012. Carlsbad saw an average 50 units sell a month in April versus an average of 25 in 4th quarter 2011. The results of continued low mortgage rates and reduced inventory, Carlsbad condo's are securing 98% of asking price with the average 2 bedroom, 2 bath 1,400 sq.ft. condo selling for $324,000. Average time on market is around 51 days for traditional sale property, a time that has moved down from 55 days in previous months. Average sale prices have remained relatively unchanged since 2011. Similar to single family homes, condos are become more scarce in 2012. Month(s) of sellable inventory for condos in Carlsbad is 2.2 months. Search Carlsbad Condo and townhome properties for sale
Wow... Check out the Interest Rates!
Tuesday, February 7th, 2012 at 2:00pm. 184 Views, 0 Comments.
Great Time to Buy... First home, Move Up or find the ideal Rental!!
30 Year fixed Purchase Loans
3.75 % Conforming: (loan amounts under $417,000)$231.56 per $50K (Calculate at $50,000 increments to figure P&I pymts)
4.00% Jumbo (loan amounts up to $546,250)
4.25% JUMBO, AND… 5/1 is only 2.625% (APR 2.7)
FHA (up to $697,500)/VA (up to $417,000)
3.75
15 Year fixed
3.375% Conforming
NON-OWNER OCCUPIED
1 Unit 4.375%
3-4 Unit 4.75%
Carlsbad Market Summary - 2012
Wednesday, January 25th, 2012 at 4:52pm. 149 Views, 0 Comments.
Carlsbad and General Market Summary:
Tyson Lund - Broker Associate , The Lund Team, Inc
Active
real estate brokers are noticing a shift in the San Diego real estate
market. Many areas of the county are experiencing fewer homes for sale
than in previous months. Professionals call this “inventory restriction”
and it is having a noticeable affect on our local Carlsbad market. An
increase in the number of home buyer showings per available home.
Average time to sell in the current market for non-short sale property
has dropped by 33% to 60 days average market time. Brokers are finding
multiple offers more common on their desirable listings with the seller
achieving near 99% of their asking price. Now although it is much…
Carlsbad Condo Stats For 2012
Monday, January 23rd, 2012 at 11:37am. 84 Views, 0 Comments.
Carlsbad condominium and town home sold values remain unchanged through 2011 and early 2012. Thanks in part to low mortgage rates and greater affordability, attached property has found a pricing equilibrium. The average attached sale in Carlsbad between November 2011 and January 2012 remain relatively unchanged from a year prior at $326,000. Home buyers found with record low mortgage rates (currently below 4% for 30 year fixed rate) the cost of owning a condo / townhome was often equal or better to paying current rents. Average time on market is around 55 days for traditional sale property. Short-sale’s are a large part of the attached market in Carlsbad making up 40% of the active inventory. Short-sales, ever the…
Buy a home with 1/2 of 1% down!
Wednesday, January 18th, 2012 at 11:34am. 86 Views, 0 Comments.
A new product from a Lund Team, inc preferred lender allows a qualified buyer to purchase with as little as ½ of 1%. That is buying a $400,000 home with $2,000.
If you can say “Yes” to all of the following you qualify for this mortgage:
• Must be an FHA 30 Year Fixed Rate
Loan
• 2nd Mortgage not to exceed 3% of the Sales Price
• 2nd Mortgage proceeds can be used for Down Payment or Closing Costs
• Property MUST be Owner-Occupied
• Borrower can not own other properties
• Borrower must meet Income Limitations (call for details) SAN DIEGO $89,880
and Orange County $101,040
• Borrower DOES
NOT have to be First Time Buyer
• Minimum FICO Score 620
• Second mortgage is a 15 year fixed rate…
Real Estate In The News: Rates, Sales & More
Friday, September 23rd, 2011 at 9:36am. 157 Views, 0 Comments.
The Los Angeles Times
Mortgage rates hold steady, Freddie Mac survey says
The
interest rate on a 30-year fixed mortgage held steady this week at a
60-year low while the 15-year fixed loan edged down to a new record low,
mortgage finance company Freddie Mac said in its weekly rate snapshot.
Read the full story
HousingWire
Five more years of housing problems, with some stability in local markets
The
housing market remains shaky and is unlikely to deliver significant
growth in prices over the next five years, according to a new survey of
economists, real estate professionals and analysts.
Read the full story
The Los Angeles Times
Sales of previously owned homes jump in August
The
number of homes sold increased 7.7 percent in August compared with…
Your FHA Loan Update Checklist!
Tuesday, September 6th, 2011 at 11:00am. 245 Views, 0 Comments.
WHAT YOU NEED TO KNOW ABOUT UPCOMING CHANGES TO FHA LOANS
As you may know, unless Congress extends the expiration deadline,
Federal Housing Administration (FHA) loan limits set in 2008 will drop
significantly beginning October 1. Congress raised the loan limit amount
in response to the housing crisis to help spur the homebuying market.
FHA loans offer borrowers very competitive rates and terms, and they
only require a 3.5% down payment. Allowable debt ratios are higher than
the typical debt-ratio limits imposed for conventional loans, and there
are no income limit qualifications, so more people can qualify for them.
If the loan limit drops on October 1, many California homebuyers will
face higher down payments, higher mortgage…
Where are rates...
Tuesday, August 30th, 2011 at 2:52pm. 164 Views, 0 Comments.
Approximately:
30 Year fixed Purchase Loans
4.125 % (APR 4.128%) Conforming: (loan amounts under $417,000) $242.32 per $50K (Calculate at $50,000 increments to figure P&I pymts)
4.5% (APR 4.51%)Jumbo (loan amounts up to $546,250)
4.625% (APR 4.72%) JUMBO, AND… 5/1 is only 3.375% (APR 3.38) & 7/1 3.625% (3.69 APR) at 2,000,000
FHA/VA
4.125% (APR 4.127%)
15 Year fixed
3.125% Conforming (APR 3.171%) $348.30 per $50K
NON-OWNER OCCUPIED
1 Unit 4.75% (APR 4.79%)
3-4 Unit 5.0% (APR 5.11%)
Mortgage Rates Fall To Record Lows; Refinance Boom
Thursday, August 25th, 2011 at 11:06am. 144 Views, 0 Comments.
Average 30 year fixed mortgage rates have fallen to historic lows; 4.41%. Many Lund Team clients have reported securing fixed rate loans even lower lower (4.1%-4.25%) depending on their individual situation.
There is much discussion about the future of low mortggae rates. Many economists argue that we should expect an extended period of low mortgage rates as the economy contracts during a recession.
Our local mortgage contacts report heavy volumn in #'s of property refinances.
The 15-year fixed-rate rose 5 basis points to 3.63 percent. The average rate for 30-year jumbo mortgages, or generally for those of more than $417,000, was 4.94 percent, up 5 basis points from last week.
The 5/1 ARM fell 3 basis points to 3.12…
New Government Program: 3% Grant!
Friday, August 5th, 2011 at 11:03am. 187 Views, 0 Comments.
We were recently informed from one of our lending partners that there is a new government program that can provide up to a 3% grant that can be used for downpayment and/or closing costs. The grant does not have to be repaid!
The Grant made possible through the Program can be used towards the homebuyer’s down payment and/or closing costs on a 30-year fixed-rate fully amortized FHA, VA or USDA Mortgage Loan.
The Program is available for purchases of both new and existing homes and is NOT limited to first-time homebuyers.
If you have questions, The Lund Team is here to help!
