My spin on each segment of the market

Spinning8/20/19-I hope you had a great weekend and I hope life is treating you well.  We had our last BBQ with the ¾’s of our kids on Sunday and all of their friends that are left.  We get rid of the last two this weekend and we will be left with 1.5 boys.  Long story!

I was looking back at some notes this AM as I like to track  where we are with purchase money loans in our pipeline and this year seems to be right on track with where we were the past few years.  We tend to slow down in late July until Mid to late August and then we get a Late August / September surge that we run with through October before we slow for the holidays.  I think there is a lot of fear with buyers now because they are afraid that they are at the end of a big 8 year run and where will prices be in the future.  I agree that there should be fear when you are investing, but here is my spin on each segment of the market:

  • 1st time buyers, I would be afraid to wait!  Rents keep climbing, and interest rates have very little room to go down and a lot of room to move up!  Waiting could cost you in the long run!  A $550,000.00 house with 3.5% down now would make a payment $400.00 less today than where we were a year ago!  That house would have to be at $480,000.00 with last years rates to keep the payment where it is!  You are also paying off $8000.00 per year on your mortgage.  1.5% of the Price!   Do you really think the property will go down in price long term?
  • Move up buyers – Again, when are you going to get rates this low.  It’s been 4 years since rates were this low, and this is an opportunity to buy up, down, around the corner, or another home.
  • Seniors – Senior housing and 1 story houses are hard to come by.  Who knows where prices and interest rates will be when you are “ready.”  When my parents moved to a one story house it took some convincing, but all I could imagine was one of them having a horrific fall on their stairs!  My Dad says to this day that my Mom would have never made it to the bedroom in her final year.  Sounds morbid, but we need to set ourselves up and think ahead!  We are planning a remodel at our house and I know we won’t be there for more than 15-20 more years, because I want a single story when I am in my 70’s!

There are loan programs for just about everyone at this time, from first time buyer loans to stated income to banks statement loans.

Interest rates have moved to their lowest levels of the year!  We don’t know how long they will be here or if they will go higher or lower.  All we know is that the stock market is struggling, and Zillows stock is down 30%!  YES!!!  Yields seem to be stabilizing and we will see where we go from here!  I like where we are and you should too!  Here is rates as of this moment:

  • 30-year fixed conventional 1st Mortgage with 25% down – 3.500% (3.547 APR). Loan amounts up to $484,350.00 = $2174.95
  • 15-year fixed conventional 1st Mortgage with 25% – 3.000% (3.084 APR). Loan amounts up to $484,350.00 = $3344.83
  • 5/1 ARM 1st Mortgage –  25% down – Fixed for 5 years and then becomes variable – 3.125% – (3.144 APR) Loan amounts up to $3,000,000.00 = $12851.26
  • 7/1 ARM 1st Mortgage – 25% Fixed for 7 years and then becomes variable – 3.250% – (3.261 APR) Loan amounts up to $3,000,000.00 = $13,056.19
  • 10/1 ARM 1st Mortgage – 25% Fixed for 10 years and then becomes variable – 3.375% – (3.385 APR) Loan amounts up to $3,000.,000.00 = $13,262.89
  • 30-year fixed 1st Mortgage FHA loan 3.50% down – 3.250% (4.663 APR). Loan amounts up to $484,350.00 = $2144.81 + $349.08 PMI = $2493.89
  • 30-year fixed 1st Mortgage VA loan 0% – 3.250% (3.296 APR). Loan amounts up to $484,350.00 = $2107.92
  • 30 Year Fixed rate 1st Mortgage Jumbo Loan 25% down – 4.125% (4.145 APR).  loan amounts up to $3,000,000.00 =14,539.49

I will be in the office all week and I will be ready for your call email or text!  My cell # is 661-714-6258, my office line is 661-260-2970 xt. 2222 and my email is  I also have Dwayne Okpaise, Kris Kehl, Whitney Sengthao, Anna Higgins, David Bogosian, and Irma Arteaga that are licensed Loan officers on my team!  Amy Atkins and the Creative Marketing team are here to go over marketing, Ice Cream trucks, Limo’s, branding, etc.  Have a great week and I hope to hear from you soon!