Mortgage Application Drop 12.2018

Family Home

According to the Mortgage Bankers Association mortgage applications dropped 9.8% (seasonally adjusted) in the their most recent survey; a significant decline even for the holidays. Despite mortgage rates moving down to nearly 1 year lows; homeowners and homebuyers seemed to shy away from starting a new loan application. Un adjusted it dropped 46% compared with two weeks ago. Refinance Applications: … Read more

Government Shutdown

Family Home

Should You Be Concerned? A concern is growing among homeowners, homebuyers and realtors – will this current government shutdown prevent borrowers from closing their mortgage on time? The quick answer is not yet. If you are closing in the next week or two you should be fine because your mortgage company has probably already received the 4506-T report back from … Read more

Mortgage Rates For January 1, 2019

Happy New Year For 2019

From our family to years we wish you the very best for 2019. Markets are closed today and will re-open on Wednesday. There are no important economic reports on Wednesday however on Thursday we have the ADP National Employment Report for December, ISM New York Index for December, ISM Manufacturing PMI, ISM Manufacturing Prices Paid for December (an important piece when … Read more

Existing Home Sales For November 2018

Spanish home in California

According to the National Association of Realtors Existing Home Sales increased in November despite elevated mortgage rates and signs housing might be slowing down towards the end of 2018. This is the second month in a row Existing Home Sales have increased and 3 of the 4 major regions of the U.S. saw gains. Going forward it will be interesting … Read more

Fannie Mae Loan Guidelines Update

Fannie Mae mortgage solutions

On December 8th, 2018 the mortgage giant Fannie Mae will be updating its Automated Underwriting System which will adopt some new guidelines for conforming mortgages. Significant changes will come to loan programs that deal with borrower’s that have “debt-to-income” ratios that are looking to take cash out from their property. All conforming loans go through either the Fannie Mae Desktop Underwriter … Read more

November 2018 Mortgage Company

Mortgage professionals

In November 2018 you have hundreds if not thousands of choices when it comes to choosing a mortgage company in the state of California.  Low mortgage rates, reputable company, great customer service, and cutting edge technology so it’s a quick close are all things that should factor into your decision-making. What makes Kevin O’Connor at JB Mortgage Capital, Inc. different and … Read more