We now know now due the recent report released by Fed Chairman Powell, the Federal Reserve intends to drop the Federal Fund rate which will lower commercial lending rates (ie: the prime rate) in September if the economy continues to slow.
This will stimulate the economy by lowering the cost of commercial lending that businesses use to acquire property
In the world of mortgages, timing is often seen as everything. Many homeowners are currently sitting on the sidelines, waiting for the Federal Reserve to lower interest rates before refinancing. But is this really the best strategy? Let’s explore why waiting for the Fed to act might mean missing out on significant benefits that refinancing can offer right now.
The
It’s been over 20 months since interest rates started climbing making it one of the worst lending climates in US history in over 30+ years even when you include the recession of 2008.
In January of 2023 we had over 200,000 licensed loan officers in the United States and in 12 months, we lost almost half of that number due
Back in March of this year, we provided a report that shows where housing inventory was on the peninsula, south bay and Santa Cruz area. This month we have updated this report for your review.
As you may know housing inventory locally or abroad considers several factors that includes:
As we come upon July 4, Independence Day, we tend to forget what the meaning of this great day and what sacrifices have been made that allow for our great way of life. This day is deeply symbolic of American values that include freedom, democracy, and patriotism. Here is a closer look and something to reflect on…
Freedom…
Independence Day
When choosing between an experienced loan officer who provides great service and competitive rates versus a lender with the lowest rates but lacking in service and experience, the decision hinges on several key factors:
Purchase Loan
For a purchase loan, the stakes are often higher due to deadlines and the complexity of the transaction. Here’s why an experienced loan officer
Renting a home can often be more expensive than owning a home in the long term due to several financial benefits associated with home ownership especially if the home is sold after 10 years.
Let’s break down the key factors to illustrate why this might be the case:
Assumptions…
Appreciation Schedule
Assuming a 7% annual appreciation rate over the last
Step 1 – Research and Preparation
I recently finished a four-part series on the following topics, as it relates to Real Estate locally and abroad, helping you make better decisions in buying, selling or exploring the world of real estate.
Click below for more info…
In addition, if you are looking to buy,
This is the final article of my series titled “Interesting Times in Real Estate” that covers the following key real estate trends:
If you have questions about these or any other topics related to real estate, real estate financing or real