Wednesday, September 28, 2016

Today's Top Three Luxury Estates in San Diego, Los Angeles, San Francisco 
and Seattle Listed For Sale

                                           .                          
                                      
                                   "A mansion is a large and stately dwelling"
The word mansion derives through Old French from the Latin word mansio "dwelling", an abstract noun derived from the verb manere "to dwell". The English word "manse" originally defined a property large enough for the parish priest to maintain himself, but a mansion is no longer self-sustaining in this way.  'Manor' comes from the same root—territorial holdings granted to a lord who would remain there—hence it is easy to see how the word 'Mansion' came to have its meaning.  Windsor Castle located in Berkshire, England is the largest mansion in the world with around 484,000 sq.ft.




Today's Top Three Mansions

# 1       9555 Heather Road, Beverly Hills, CA 90210 with 9 bedrooms, 15 baths, and 9,987 sq.ft. is listed for sale at $22,800,000.

9555 Heather Rd, Beverly Hills, CA 90210


Enter the gates of this East Coast designed traditional compound and you'll never want to leave. This Paul Williams designed Estate is one of Beverly Hills' last true Masterpieces. Gather your family for an afternoon of nirvana by the fabulous swimmers pool or gear up for a tennis match on your regulation-size court in the center of the home. The kids can enjoy a game of croquet while you cool off in the shade of your private outdoor dining rm.The grand theater and 2-lane bowling alley make for an entertainer's oasis.The 2 bedroom, manor-sequel guesthouse provides the most luxurious of appointments for your friends and family. With the guests away,enjoy a romantic evening in the private gazebo and stroll along the scenic paths that encircle the grounds.Warmth is felt in every square inch of the exquisitely designed, Ralph Lauren inspired, interiors. The ultimate family home and entertainer's estate,fit for intimately large parties that would be the envy of Jay Gatsby.

9555 Heather Rd, Beverly Hills, CA 90210

9555 Heather Rd, Beverly Hills, CA 90210

9555 Heather Rd, Beverly Hills, CA 90210

9555 Heather Rd, Beverly Hills, CA 90210

9555 Heather Rd, Beverly Hills, CA 90210

9555 Heather Rd, Beverly Hills, CA 90210

9555 Heather Rd, Beverly Hills, CA 90210

#2       571 Sand Point Road,  Carpinteria,CA 93013 with 4 bedrooms, 6 baths and 4,963 sq.ft. is listed for sale at $26,500,000


This magnificent Cape Cod-style oceanfront estate features a wondrous home and comfortable, private guest house on nearly 1.5 acres in the prestigious gated Sand Point beach colony near Montecito, CA.  Facing over 120 ft. of beach frontage, the main residence offers 3bd/3 full baths plus 2 half-baths. The charming guest house provides a bedroom, bathroom, living room and kitchen. An elevator in the main residence serves a lower level providing over 3,000 sq. ft. of usable space. The expansive wraparound deck and on-deck spa overlook the ocean and pristine beach, while a refreshing lap pool offers views of the revered Carpinteria Salt Marsh Reserve, and beyond to the mountains. Overall, this spectacular estate is a masterpiece of design & craftsmanship. Dark and richly-stained wood floors contrast with clean, fresh white walls and woodwork that serve to showcase nature’s palette of sand and ocean resting just beyond expanses of multi-pane windows. Ocean panoramas grace most rooms of the home, including the living room with its dramatic floor-to-ceiling stone fireplace and cathedral ceiling, and its sitting room hosting walls of windows.









#3          1071 N Ocean Boulevard, Palm Beach, Florida with 8 bedrooms, 17 baths, and 35,993 sq.ft. was just reduced to $74,600,000

1071 N Ocean Blvd, Palm Beach, FL 33480

This one of a kind mansion with commanding ocean views and approximately 242 feet of direct ocean frontage was just reduced $10,000,000. The one of a kind estate features grand salon, dual ocean balconies, massage room, bowling alley, home theater, pub room, game room, library, 8 car garage, and so much more.This newly built Mediterranean style oceanfront mega mansion is owned by Philadelphia attorney and entrepreneur Vahan Gureghian. Vahan and his wife who purchased the land for $28.9 million.

The home was designed by Pennsylvania-based architect Frederick L. Bissinger Jr. along with Smith and Moore Architects of West Palm Beach. It features approximately 35,993 square feet of living space with 8 bedrooms (including 2 staff suites each with a living room and kitchenette), 7 full & 10 half bathrooms, 2-story foyer with staircase, 3 additional staircases, elevator, great room, formal dining room, gourmet kitchen, family room, playroom, dog room, home office, library, billiards room, home theater, wine cellar, game room, bowling alley, gym, massage room, two 4-car garages and more. Outdoor features include 2 gated entrances, fountain, 2 terraces, 2 loggias, kitchen/BBQ and a swimming pool with spa.

35,000 Square Foot Mediterranean Oceanfront Mega Mansion In Palm Beach, FL Re-Listed For $74.5 Million

1071 N Ocean Blvd, Palm Beach, FL 33480

1071 N Ocean Blvd, Palm Beach, FL 33480



1071 N Ocean Blvd, Palm Beach, FL 33480

1071 N Ocean Blvd, Palm Beach, FL 33480

1071 N Ocean Blvd, Palm Beach, FL 33480

1071 N Ocean Blvd, Palm Beach, FL 33480

1071 N Ocean Blvd, Palm Beach, FL 33480

1071 N Ocean Blvd, Palm Beach, FL 33480


1071 N Ocean Blvd, Palm Beach, FL 33480


Today's Real Estate News 


Versus Inflation, Home Price Increases Are Unsustainable -Case-Shiller

By Jann Swanson
Mortgage News Daily
Sep 27 2016, 9:51AM
While the annual gains in its nationwide index accelerated slightly in July the S&P CoreLogic Case-Shiller 10- and 20-City Composite Indices showed a slight slowing on an annual basis.  The U.S. National Home Price Index, covering all nine U.S. census divisions showed prices rising 5.1% over the 12 months ending in July compared to a June to June gain of 5.0 percent.  On a month-over-month basis the National Index was up 0.7 percent (compared to 0.1 percent in June) on a non-seasonally adjusted basis and 0.4 percent when adjusted.

The 10-City Composite Index slowed from a 4.3 percent appreciation in June to 4.2 percent in July and the 20-City slipped by 0.1 point to 5.0 percent.  Portland, Seattle, and Denver led in gains among the 20 cities for thesixth consecutive month with Portland posting a 12.4 percent increase followed by Seattle at 11.2 percent, and Denver with at 9.4 percent.  Nine cities reported greater price increases in the year ending July 2016 than they did for the year ending in June.



Monthly increases for the 10-City Composite were a 0.5 percent unadjusted gain and a loss of 0.1 percent when seasonally adjusted.  The monthly unadjusted number for the 20-City was +0.6 percent while the seasonally adjusted number was unchanged. After seasonal adjustment, 12 cities saw prices rise, two cities were unchanged, and six cities experienced negative monthly prices changes.

David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices said, "Both the housing sector and the economy continue to expand with home prices continuing to rise at about a 5 percent annual rate," says. "The statement issued last week by the Fed after its policy meeting confirms the central bank's view that the economy will see further gains. Most analysts now expect the Fed to raise interest rates in December. After such Fed action, mortgage rates would still be at historically low levels and would not be a major negative for house prices,

"The S&P CoreLogic Case-Shiller National Index is within 0.6 percent of the record high set in July 2006. Seven of the 20 cities have already set new record highs. The 10-year, 20-year, and National indices have been rising at about 5 percent per year over the last 24 months. Eight of the cities are seeing prices up 6 percent or more in the last year. Given that the overall inflation is a bit below 2 percent, the pace is probably not sustainable over the long term. The run-up to the financial crisis was marked with both rising home prices and rapid growth in mortgage debt. Currently, outstanding mortgage debt on one-to-four family homes is 12.6 percent below the peak seen in the first quarter of 2008 and up less than 2 percent in the last four quarters. There is no reason to fear that another massive collapse is around the corner."

Cities in the 10- and 20-City indices are now back to their winter 2007 levels. The National Index is 0.6 percent below its peak in July 2006 and has rising 37.0 percent off the bottom reached in February 2012.  The 10-City is 7.6 percent and the 20-City 9.4 percent below their 2006 peaks.

The S&P CoreLogic Case-Shiller Home Price Indices are constructed to accurately track the price path of typical single-family home pairs for thousands of individual houses from the available universe of arms-length sales data. The National U.S. Home Price Index tracks the value of single-family housing within the United States. The indices have a base value of 100 in January 2000; thus, for example, a current index value of 150 translates to a 50 percent appreciation rate since January 2000 for a typical home located within the subject market. The National Index in July was at 183.57 and the 10- and 20-City Composites had readings of 204.92 and 190.91 respectively.  Los Angeles has the highest index reading at 251.17 and Detroit the lowest at 108.81

Today's Top Three San Diego Luxury Estates
sandiegorealestateflashreport.com



Image result for san diego skyline art


The median home value in San Diego County is $516,200. San Diego County home values have gone up 5.2% over the past year and Zillow predicts they will rise 1.9% within the next year.         

The median home value in La Jolla is $1,685,000. La Jolla home values have gone up 6.1%  over the past year and Zillow predicts they will rise 2.1% within the next year.


The median home value in Rancho Santa Fe is $2,727,800. Rancho Santa Fe home values have declined -0.5% over the past year and Zillow predicts they will rise 1.9% within the next year



#1     7914 Costebelle Way, La Jolla, CA 92037 with 5 bedrooms, 5 baths, and 
4,958 sq.ft. is listed for sale at  $3,999,995.
.

7914 Costebelle Way, La Jolla, CA 92037
.
Stunning modern home inspired by the coveted La Jolla beach-life. This newly built architectural masterpiece is nestled in La Jolla Heights, on a private cul-de-sac. Stunning 180 degree ocean-views of the Shores and breathtaking sunsets from every room. Beautiful wood floors make the home warm and inviting. Modern fixtures and top of the line appliances enhance your beach-life experience. One-of-a-kind master shower with breathtaking ocean views, designed to give you the feeling of showering outside

7914 Costebelle Way, La Jolla, CA 92037

7914 Costebelle Way, La Jolla, CA 92037

7914 Costebelle Way, La Jolla, CA 92037

7914 Costebelle Way, La Jolla, CA 92037

7914 Costebelle Way, La Jolla, CA 92037


#2     14955 Rancho Santa Fe Farms Road, Rancho Santa Fe, CA 92067 with 
5 bedrooms, 4 baths, and 5,000 sq.ft. is listed for sale at $3,500,000.


This exceptional Brian Murphy single-level Mediterranean home is located on a gorgeous and private 2-acre lot in exclusive Rancho Santa Fe. Live in luxury, free of HOA dues, Mello Roos, and CCRs. The magnificent open floor plan opens to beautifully designed resort-like grounds with patios, courtyard, outdoor kitchen, pool and spa, and rose garden.Very private and tranquil location offers a peaceful environment. Small orchard with lemon, orange, grapefruit, apricot, apple, pear, guava pomegranate and fig tree









#3     7907 Princess Street, La Jolla, CA 92037 with 6 bedrooms, 9 baths 7,444 sq.ft.
 is listed for sale at $7,800,000.

7907 Princess St, La Jolla, CA 92037

This immaculately restored hacienda-style masterpiece expanded to approximately 7,500sf is the perfect blend of classic style and modern convenience. This historic Mediterranean home has 6 bedrooms and 9 baths including a spacious kitchen with Carrera marble waterfall kitchen counters, marble baths and floors. The 1,200sf master suite has dual master bathrooms and closets with unobstructed whitewater and night light views.

7907 Princess St, La Jolla, CA 92037

7907 Princess St, La Jolla, CA 92037

7907 Princess St, La Jolla, CA 92037

7907 Princess St, La Jolla, CA 92037

7907 Princess St, La Jolla, CA 92037

7907 Princess St, La Jolla, CA 92037



Today's Top Three San Francisco Luxury Estates
sanfranciscorealestateupdates.com



The median home value in San Francisco is $1,104,000. San Francisco home values have gone up 0.6% over the past year and Zillow predicts they will fall -0.4% within the next year. 

The median home value in Sausalito is $1,203,400. Sausalito home values have gone up 6.6% over the past year and Zillow predicts they will rise 0.9% within the next year. 

The median home value in Tiburon is $2,360,800. Tiburon home values have gone up 2.6% over the past year and Zillow predicts they will fall -0.0% within the next year.

The median home value in Saratoga is $2,331,600. Saratoga home values have gone up 1.1% over the past year and Zillow predicts they will fall -1.1% within the next year



#1      2222 Hyde Street #4, San Francisco-Russian Hill, CA 94109 with 3 bedrooms, 
3 baths, and 2,600 sq.ft. is listed for sale at $4,595,000. 

                       2222 Hyde St Apt 4, San Francisco, CA 94109

 At the top of Russian Hill, this beautifully renovated view co-op encompasses the 4th floor of a 1920's classically detailed and impeccably maintained 7 unit bldg. Acclaimed designer J. Wheatman transformed the floor plan for sophisticated city living.Taking ctr stage in the well-proportioned LR and FDR are sweeping views to the East and South across SF Bay and iconic landmarks Coit Twr, Transamerica Bldg and Bay Bridge.An east terrace spanning the LR provides a sheltered venue for enjoying the views, dazzling by day & night. Spacious master suite. Custom ensuite 2nd BR features bay and city views. Chef's kitchen with highest quality finishes. 

2222 Hyde St Apt 4, San Francisco, CA 94109

2222 Hyde St Apt 4, San Francisco, CA 94109

2222 Hyde St Apt 4, San Francisco, CA 94109

2222 Hyde St Apt 4, San Francisco, CA 94109

2222 Hyde St Apt 4, San Francisco, CA 94109


#2     15335 Via Colina, Saratoga, CA 95070 with 6 bedrooms, 6 baths, and 5,200 sq.ft. is listed for sale at $5,499,888.

15335 Via Colina, Saratoga, CA 95070

Gorgeous BRAND NEW single story estate in "Platinum" area of Saratoga! This French inspired estate built by DeMattei Construction exemplifies quality throughout with designer touches, high end finish work and materials. They even went to the expense of installing a slate roof! Backyard is huge and must be seen to be fully appreciated. All bedrooms have en suite baths and one bedroom is designed as guest or in-laws suite separated from the rest of the bedrooms for privacy. The master bedroom suite with his and her vanities, U shaped large walk in closet is one of the highlights of the home. Huge dining room that can accommodate a table for 16 if desired as well as 10-12 foot ceilings throughout the home. Distinguished Saratoga Schools. This property has the three most important words used in Real Estate...Location, Location, Location. It also has the other 3 most important words used in Real Estate...New, New, New!!! It really does not get any better than this!

15335 Via Colina, SARATOGA, CA

15335 Via Colina, Saratoga, CA 95070

15335 Via Colina, Saratoga, CA 95070

15335 Via Colina, Saratoga, CA 95070


15335 Via Colina, Saratoga, CA 95070

15335 Via Colina, Saratoga, CA 95070

15335 Via Colina, Saratoga, CA 95070


#3      2121 Webster,  Penthouse #5, San Francisco-Pacific Heights, CA 94115 with 
3 bedrooms, 4 baths, and 3,073 sq.ft. is listed for sale at $11,750,000.

2121 Webster # PH5 San Francisco, CA 94115 - Photo 8

Spectacular northwest corner penthouse unit delivered as a custom shell. A nine-story jewel box building meticulously designed by Handel Architects, The Pacific brings richly modern amenities to a boutique collection of 76 pristine residences in the city's most precious enclave. Each residence combines sophisticated charm with polished details and spectacular views. Destined for elegance from its inception, the original building presented a rare opportunity to build in Pacific Heights while providing a perfect framework for soaring ceilings, generous square footage and gracious floor-to-ceiling windows. Outfitting each residence with modern finishes and features equal in quality to those in the finest of the neighboring Gold Coast mansions.

2121 Webster # PH5 San Francisco, CA 94115 - Photo 4 



  

2121 Webster # PH5 San Francisco, CA 94115 - Photo 1

Today's Top Three LA Luxury Estates
larealestateupdates.blogspot.com


The median home value in Los Angeles County is $532,800. Los Angeles County home values have gone up 6.3% over the past year and Zillow predicts they will rise 0.9% within the next year

The median home value in Malibu is $2,500,600. Malibu home values have declined -0.8% over the past year and Zillow predicts they will fall -0.7% within the next year.

The median home value in Beverly Hills is $2,998,500. Beverly Hills home values have gone up 4.7% over the past year and Zillow predicts they will rise 0.2% within the next year.

The median home value in Bel Air is $3,118,800. Bel Air home values have gone up 3.8% over the past year and Zillow predicts they will rise 0.7% within the next year.


#1      3085 Franklin Canyon Drive, Beverly Hills, CA 90210 with 6 bedrooms, 7 baths, and 7,018 sq.ft. is listed for sale at $8,995,000.

3085 Franklin Canyon Dr, Beverly Hills, CA 90210
.
Cape Cod infused with California glamour, this brand new constructed private gated estate combines old-world grandeur and elegance, with luxurious modern amenities. Designed for entertaining, this timeless home is a standout combination of the classic and the contemporary, achieving the balance of tradition with modern impact. Marvel at the seamless merging of indoors and outdoors, along the luxurious beauty of the sun-filled main living area, which leads to a stunning outdoor space, complete with beautiful vignettes surrounded by exquisite water features, gleaming pool and breathtaking views. With up to 16 ft high ceilings, elaborate wainscoting, custom wood work, lux stones and tile, oak floors, wine gallery, media room, gym, yoga deck, stately en-suite bedrooms with private balcony's, the best of crisp east coast beach style meets west coast sophistication and convenience in this unique, lushly-landscaped gated private home. Get ready to fall in love and live happily ever after.

3085 Franklin Canyon Dr, Beverly Hills, CA 90210

3085 Franklin Canyon Dr, Beverly Hills, CA 90210

3085 Franklin Canyon Dr, Beverly Hills, CA 90210

3085 Franklin Canyon Dr, Beverly Hills, CA 90210

3085 Franklin Canyon Dr, Beverly Hills, CA 90210

3085 Franklin Canyon Dr, Beverly Hills, CA 90210

3085 Franklin Canyon Dr, Beverly Hills, CA 90210

3085 Franklin Canyon Dr, Beverly Hills, CA 90210

#2     813 Cinthia Street, Beverly Hills, CA 90210 with 4 bedrooms, 4 baths, and 
3,863 sq.ft. is listed for sale at $7,595,000. 

813 Cinthia St, Beverly Hills, CA 90210

First time on the market, this ranch style home is situated on well over 1/2 acre, meticulously maintained with love in a quiet iconic Beverly Hills location. Expansive grounds, oversized pool, surrounded by awe inspiring mature trees create a private "park like" setting that is second to none. Circular driveway, breeze way and motor court/sport court area have been recently re-paved. Nestled on this "almost private"" street there is very light traffic but easy access to the exclusive shops and Los Angeles nightlife. Endless potential, a rare opportunity to build your dream home in the upper flats of BH. Location, location,location.

813 Cinthia St, Beverly Hills, CA 90210

813 Cinthia St, Beverly Hills, CA 90210

813 Cinthia St, Beverly Hills, CA 90210

813 Cinthia St, Beverly Hills, CA 90210

813 Cinthia St, Beverly Hills, CA 90210

#3      11768 Ellice Street, Malibu, CA 90265 with 5 bedrooms, 7 baths, and 7,204 sq.ft. is listed for sale at $16,550,000.

11768 Ellice St, Malibu, CA 90265

Oceanfront vistas await at The Spanish Estate, an incomparable residential retreat perched on a private bluff top in Malibu's exclusive Marisol community. Masterfully designed by award-winning architect Barry Berkus A.I.A, this earthly paradise offers clear views of the Pacific the moment you pass through the great room's soaring 16' foot ceilings. Nighttime reflections of a star-filled sky can be seen in the 50-foot infinity edge pool, which seamlessly blends into the horizon stretching as far as Catalina Island. Dual master suites take advantage of the sun's arc across the sky and feature gallery-style walk-in closets. A sheltered courtyard spanning 3, 200 sq ft. entertains with a wood-burning fireplace, BBQ, and lounge areas. An acre of immaculately restored coastal land lends a pristine, natural playground all to yourself, while world-class surfing and parasailing awaits by the water's edge. 20 minutes from your private plane at Camarillo airport to the door of this Malibu Estate.

11768 Ellice St, Malibu, CA 90265

11768 Ellice St, Malibu, CA 90265

11768 Ellice St, Malibu, CA 90265

11768 Ellice St, Malibu, CA 90265

11768 Ellice St, Malibu, CA 90265

11768 Ellice St, Malibu, CA 90265

11768 Ellice St, Malibu, CA 90265


          
Today Top Three Seattle Luxury Estates
seattleluxuryrealestateupdates.com


The median home value in Kirkland is $576,800. Kirkland home values have gone up 14.6%         over the past year and Zillow predicts they will rise 7.1% within the next year. 

The median home value in Seattle is $592,200. Seattle home values have gone up 15.3% over the past year and Zillow predicts they will rise 6.9% within the next year. 

The median home value in Bellevue is $730,000. Bellevue home values have gone up 13.6% over the past year and Zillow predicts they will rise 5.9% within the next year.

The median home value in Mercer Island is $1,240,400. Mercer Island home values have gone up 12.2% over the past year and Zillow predicts they will rise 6.4% within the next year.

The median home value in Clyde Hill is $2,200,500. Clyde Hill home values have gone up 10.1% over the past year and Zillow predicts they will rise 5.5% within the next year.  

The median home value in Medina is $2,389,900. Medina home values have gone up 12.8% over the past year and Zillow predicts they will rise 5.1% within the next year. 


#1    10420 NE 55th Street, Kirkland, WA 98033 with 4 bedrooms, 4 baths, and 4,000 sq.ft. is listed for sale at $2,175,000.




Modern refined home. Lavender plants line the pathway to this Kirkland view home in Houghton. Western sunshine beams into the home & walls of windows welcome the panoramic view of Lake Washington & the Seattle skyline. The kitchen offers a central location for entertaining guests indoors or outdoors on the spacious deck. Master bathroom is luxurious w/heated floors. Guest suite w/its own entrance is on the main level. Enjoy being close to parks, the Kirkland waterfront and downtown Bellevue.
















#2     9928 SE 7th Court, Bellevue, WA 98004 with 5 bedrooms, 6 baths, and 
6,098 sq.ft. is listed for sale at $3,289,000.

9928 Se 7th Ct, Bellevue, WA 98004


Terrene Homes presents stunning luxury, sophistication and flexibility in this masterpiece overlooking downtown Bellevue with illuminating city lights. The abundance of natural light showcases the incredible attention to detail and  versatility of space. Volume and panache entwine at the foyer. Wolf and Subzero appliances, a kitchen that flows with ease to the open two-story family room. Relax in the modern luxe master bdrm/bath with gorgeous finishes and large walk-in closet. Comfort with a twist. Welcome Home

9928 Se 7th Ct, Bellevue, WA 98004

9928 Se 7th Ct, Bellevue, WA 98004

9928 Se 7th Ct, Bellevue, WA 98004

9928 Se 7th Ct, Bellevue, WA 98004

9928 Se 7th Ct, Bellevue, WA 98004

9928 Se 7th Ct, Bellevue, WA 98004

9928 Se 7th Ct, Bellevue, WA 98004


#3      1656 W Lake Sammarish Parkway NE, Bellevue, WA 98008 with 4 bedrooms, 
4 baths, and 2,580 sq.ft. is listed for sale at $2,350,000.

1656 W Lake Sammamish Pkwy Ne, Bellevue, WA 98008

Iconic mid century modern home perched at the shore's edge with dreamy Mt Rainier views. Located on coveted Mallard Lane on over 3/4 acre and 85 of sandy level beach + dock! Embrace expansive lake views & lush mature landscaping. 20 floor- to- ceiling walls of glass and stacking sliding doors to give the sense of being one with nature. Master on the main. This great room concept home lives large; inside + outside entertainment venues abound. Ready for your personal touches! Come home to the lake!

1656 W Lake Sammamish Pkwy Ne, Bellevue, WA 98008

1656 W Lake Sammamish Pkwy Ne, Bellevue, WA 98008

1656 W Lake Sammamish Pkwy Ne, Bellevue, WA 98008

1656 W Lake Sammamish Pkwy Ne, Bellevue, WA 98008

1656 W Lake Sammamish Pkwy Ne, Bellevue, WA 98008

1656 W Lake Sammamish Pkwy Ne, Bellevue, WA 98008

1656 W Lake Sammamish Pkwy Ne, Bellevue, WA 98008
           

Today's Mortgage Rates                                                                     12 months


ProductTodayYesterdayChangeLowHigh
30 Yr FRM3.37%3.39%-0.023.34%4.11%
15 Yr FRM2.72%2.75%-0.032.69%3.30%
FHA 30 Year Fixed3.20%3.25%-0.053.15%3.75%
Jumbo 30 Year Fixed3.51%3.55%-0.043.41%3.93%
5/1 Yr ARM2.80%2.83%-0.032.80%3.10%
Updated: 9/27/16 3:36 PM

Mortgage Rates Near 2-Month Lows
Sep 27 2016, 3:52PM

Mortgage Rates maintained their recent winning streak today, falling for the 5th straight day.  The average lender is now offering the best rates in nearly 2 months.  You'd have to go back early August or late July (depending on the lender) to see a better combination of rate and upfront cost.
This brings up a caveat that has been important in the past few months.  The outright range of rate movement has been exceptionally small!  We talk about "rates" moving every day, but that's just convenient shorthand for "the combination of NOTE RATE and UPFRONT LENDER COSTS." 

 Those upfront costs are sometimes referred to as "points," but that isn't a universal definition.  Regardless of the label, this refers to whatever costs the lender is charging (or paying) at closing.  These usually include things like origination fee, discount, processing, etc... anything that is paid to the lender.

All that to say, most of this "movement" in rates has been in the form of the upfront costs on any individual day.  If we look at the last 5 days all together, however, we have seen almost a full eighth of a point decrease in the rate itself.  Floating is less risky now than it had been early last week, but keep in mind that the longer streaks like this go, the more susceptible they are to corrections.

Loan Originator Perspective

If you had the stomach to float to today you have been almost fully rewarded. MBS prices are near as attractive as they've been. I would cautiously wait for pricing improvements today/tomorrow and strongly recommend locking loans with as long as a 45 day window. Speculating things get better is just greedy. Pigs get fat, hogs get slaughtered.   -Gus Floropoulos, VP, The Federal Savings Bank

Today's Best-Execution Rates
  • 30YR FIXED - 3.375%
  • FHA/VA - 3.25%
  • 15 YEAR FIXED - 2.75%
  • 5 YEAR ARMS -  2.75 - 3.25% depending on the lender

Ongoing Lock/Float Considerations

  • In the biggest of pictures, "global growth concerns" remain the driving force behind the long-term trend toward lower rates
  • Amid that trend, periodic corrections toward higher rates can and will happen.  These can happen for no apparent reason, or they can be brought on by changes in expectations surrounding central bank policy at home and abroad, as well as geopolitical and systemic risks
  • Time horizon and risk tolerance are 2 variables to consider when it comes to locking.  If you have plenty of time and don't mind losing some ground, set a limit as to how much higher rates could go before you'd lock to avoid further losses, and then float in the hopes of never seeing that limit.
     
  • In the shorter-term, it's always good to look for lock opportunities after rates have been moving lower or sideways repeatedly, especially if they've since begun to move back up in any sort of consistent way.
     
  • As always, please keep in mind that the rates discussed generally refer to what we've termed 'best-execution(that is, the most frequently quoted, conforming, conventional 30yr fixed rate for top tier borrowers, based not only on the outright price, but also 'bang-for-the-buck.'  Generally speaking, our best-execution rate tends to connote no origination or discount points--though this can vary--and tends to predict Freddie Mac's weekly survey with high accuracy.  It's safe to assume that our best-ex rate is the more timely and accurate of the two due to Freddie's once-a-week polling method).
Thanks for reading today's Blog. Looking for more information? Have a comment? Call or email me.

Sincerely,


Tom Furino

email:                 tomstopmansions@gmail.com   
phone/text        619-944-8749