Thursday, September 29, 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      430 Robert Lane, Beverly Hills, CA 90210 with 5 bedrooms, 5 baths, and 
8,784 sq.ft. is listed for sale at $21,000,000.
This prime Trousdale estate is located in one of the most prestigious street in Beverly Hills. 
Its just step's away from Gresystone Park and mansions. This amazing family house is a masterpiece which radiates with exceptional design. It is an  entertainer's dream. Outside is a fantastic pool and spacious fireplace area above the pool with inspiring city lights view. In addition there is  a 2-story guest house, 2 custom wine cellar rooms, elevator and  much more. This is a perfect estate to renovate and turn into $50,000,000 masterpiece. 

Image result for 430 Robert Lane, Beverly Hills, CA 90210 photos









Image result for 430 Robert Lane, Beverly Hills, CA 90210 photos





# 2        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

#3       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.










Today's Real Estate News 
Housing Inventory Issues Stifle Pending Sales 

By Jann Swanson
Mortgage News Daily
Sep 29 2016, 10:45AM

Pending home sales were unable to sustain the slight upward tick experienced in July and resumed their downward trend in August, declining by 2.4 percent.  It was the third time in four months that pending sales have failed to exceed the previous month's numbers.
The National Association of Realtors said its Pending Home Sales Index (PHSI), a forward-looking indicator based on home purchase contracts signed, was 108.5 in August compared to 111.2 in July and at the lowest level since a reading of 105.4 in January 2016.  August's pending sales were also slightly (0.2 percent) lower than in August 2015.

The PHSI had been reported to have a gain of 1.3 percent in July but that was revised down to 1.2 percent with today's report.  

Lawrence Yun, again blamed the tight supply of available homes for "taking the wind out of the momentum of the housing market."  He said, "Contract activity slackened throughout the country in August, except for in the Northeast where higher inventory totals are giving home shoppers greater options and better success signing a contract. In most other areas, an increased number of prospective buyers appear to be either wavering at the steeper home prices pushed up by inventory shortages or disheartened by the competition for the miniscule number of affordable listings."

Housing inventory has declined year-over-year for 15 straight months and Yun said evidence is piling up that without more new home construction the current housing recovery could stall. Properties in August typically sold 11 days quicker than in August 2015 and prices have risen year-over-year for 54 consecutive months increasing 5.1 percent in August.  "There will be an expected seasonal decline in new listings in coming months," Yun said, "which could accelerate price appreciation and make finding an affordable home even more of a struggle for would-be buyers."

"Given the current conditions, there's not much room for sales to march again towards June's peak cyclical sales pace," said Yun.  That month existing home sales were the highest since February 2007 at a seasonally adjusted annual rate of 5.57 million units.
After the August dip in pending sales Yun expects existing-home sales in 2016 to be around 5.36 million, a 2.1 percent increase from 2015 and the highest annual pace since 2006 (6.48 million). The national median existing-home price growth is forecast this year to rise around 4 percent.

As Yun said, the only bright spot in the report was for the Northeast where the PHSI rose 1.3 percent to 98.1 in August, and is now 5.9 percent higher than a year earlier. In the Midwest the index decreased 0.9 percent to 104.7 in August, and is now 1.7 percent lower than August 2015.

Pending home sales in the South declined 3.2 percent to an index of 119.8 in August which is 1.5 percent lower than in August 2015. The West saw a fall-off of 5.3 percent from July to 102.8, 0.6 percent below the previous August.

Earlier this month, NAR released a study showing that single-family home construction is falling behind job creation in 80 percent of the metro areas the organization tracks. When combined with the scant supply levels for existing homes, these tight inventory conditions continue to hamper affordability in many of the largest cities in the country - especially those in the West.

The Pending Home Sales Index is a forward-looking indicator of existing home sales and is based on a large national sample typically representing about 20 percent those sales.  A signed contract is generally expected to become a closed sale within one to two months. An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined. 
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    2230 Via Lucia, La Jolla, CA 92037 with 5 bedrooms, 4 baths, and 4,232 sq.ft. 
is listed for sale at $2,950,000.

2230 Via Lucia, La Jolla, CA 92037

Lovely renovated single level Spanish style residence in La Jolla Alta North. Large level lot affords privacy and quiet. Formal entry opens into wood beamed vaulted ceiling living room w/fireplace and formal dining area. Gourmet kitchen with granite counters opens to vaulted ceiling great room. Oversize master suite with fireplace, library, his and hers walk-in closets, Jacuzzi tub, and  shower. Floor surfaces include paver tiles and carpet. Numerous French doors throughout. Pool/spa BBQ area outdoors.

2230 Via Lucia, La Jolla, CA 92037

2230 Via Lucia, La Jolla, CA 92037

2230 Via Lucia, La Jolla, CA 92037

2230 Via Lucia, La Jolla, CA 92037

2230 Via Lucia, La Jolla, CA 92037

2230 Via Lucia, La Jolla, CA 92037


#2     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


#3     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








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      24801 Prospect Avenue, Los Altos Hills, CA 94022 with 6 bedrooms, 8 baths, and 10,229 sq.ft. is listed for sale at $10,988,000

24801 Prospect Ave, Los Altos Hills, CA 94022






Grand and luxurious Mediterranean Estate in an exclusive Los Altos Hills neighborhood with 360 degree views of the San Francisco Bay, the Silicon Valley, and City Lights*Inspiring Estate set on 1.35 pristine view acres with plenty of flat open space to add a tennis court or an expansive lawn area*Superior attention to details to this 10,229 SQFT Estate with 7 bedrooms, 8 bathrooms, enormous great room, fantastic bonus/billiards room, secondary entertaining kitchen, home spa w/ steam room and dry sauna, home theater, formal library, & enormous bedroom suites each with full bathrooms*Two sets of dramatic sweeping spiral staircases w/ massive marble steps and designer wrought iron railings are the center piece*12 foot Cantera front door makes a bold impression*Infinity edged pool and spa with spectacular San Francisco Bay and City Light views*Massive marble slab flooring in the entry, kitchen, and master bathroom*Enormous epicurean kitchen quality appliances, marble counters, and designer cabinets

24801 Prospect Ave, Los Altos Hills, CA 94022

24801 Prospect Ave, Los Altos Hills, CA 94022

24801 Prospect Ave, Los Altos Hills, CA 94022

24801 Prospect Ave, Los Altos Hills, CA 94022

24801 Prospect Ave, Los Altos Hills, CA 94022

24801 Prospect Ave, Los Altos Hills, CA 94022

24801 Prospect Ave, Los Altos Hills, CA 94022

24801 Prospect Ave, Los Altos Hills, CA 94022


#2        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

#3     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

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    721 Beverly Drive, Beverly Hills, CA 90210 with 4 bedrooms, 5 baths, and 
5,540 sq.ft. is listed for sale at $9,350,000.

721 N Beverly Dr, Beverly Hills, CA 90210

One of few first homes built in flats of Beverly Hills, and once owned by actor Leslie Neilsen, the 1913 residence predates city's incorporation. Majestic shingled chalet-style tennis court estate, sitting on well over half an acre lot. This property was completed a year before the incorporation of the City of Beverly Hills (property is not historical). Gleaming original hardwood floors, high ceilings, wide hallways lead to voluminous formal living and dining rooms, lit by long expanses of windows. A step-down family room opens to a brick-paved, glass-ceilinged solarium/sun room. Cozy den also has a fireplace. 4 large master-suites upstairs, all with spacious walk-in closets. Master suite also has an enormous view terrace, looking out to the entertainment area in the backyard, an oversized pool and a lighted tennis court. In addition, there is a full guest house complete with its own kitchen, fireplace and skylights. Fronted by a sweeping lawn, with circular driveway and covered portico.

721 N Beverly Dr, Beverly Hills, CA 90210

721 N Beverly Dr, Beverly Hills, CA 90210

721 N Beverly Dr, Beverly Hills, CA 90210

721 N Beverly Dr, Beverly Hills, CA 90210

721 N Beverly Dr, Beverly Hills, CA 90210

721 N Beverly Dr, Beverly Hills, CA 90210

#2      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

#3     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


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      2424 Magnolia Blvd. W, Seattle-Magnolia, WA 98199 with 4 bedrooms, 3 baths and 4,320 sq.ft. is listed for sale at $1,999,000.



Spectacular views of the Puget Sound, Mt. Rainier, & the Olympics await at this spacious home located on Magnolia BLVD. Recently updated, the home features hardwood floors, views from almost every room, & 2 full kitchens. The main floor master suite features chic his & her closets & a large bathroom. An elegant formal living room with fireplace flow graciously into the formal dining room. MIL Suite with separate entry. Marvelous home on a prominent street just waiting for your personalization







#2    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.









#3     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       

Today's Mortgage Rates                                                                     12 months


ProductTodayYesterdayChangeLowHigh
30 Yr FRM3.37%3.37%--3.34%4.11%
15 Yr FRM2.72%2.72%--2.69%3.30%
FHA 30 Year Fixed3.20%3.20%--3.15%3.75%
Jumbo 30 Year Fixed3.51%3.51%--3.41%3.93%
5/1 Yr ARM2.81%2.80%+0.012.80%3.10%
Updated: 9/28/16 1:30 P
Mortgage Rates Finally Break Recent Winning Streak
Mortgage Rates finally took a break from their recent winning streak today.  While there are a few lenders whose rates are just a hair lower than yesterday's, most are slightly higher.  Moreover, bond market weakness in the afternoon prompted several other lenders to issue mid-day reprices to even higher rates.  Of course, all of the aforementioned movement is exceptionally small in the bigger picture, but it does fit the bill of being the first push back against 6 solid days of improvement.  That's the sort of thing that could be taken as a sign to lock if you've been waiting for an opportunity.

On an outright basis, rates remain close to all-time lows with the average lender quoting 3.375% on top tier, conventional 30yr fixed scenarios.  There are still a few lenders at 3.5% but they're a small minority--at least when it comes to high down-payment/equity, high credit score rate quotes.

Loan Originator Perspective


Treasuries have been faring well over the last few days, but MBS prices haven't really followed the move.  Maybe they're running out of room?  With the exception of July 2016, mortgage-backed-securities have only been better in 2012 & 2013.  With that being the case, I heavily favor locking loans within 45 day closing timetables.  Remember, the 10 YR is the benchmark of the broader bond market, but doesn't necessarily dictate MBS movement.  Even if the 10 YR yield dips further, we may not see mortgage rates improve.  Even if they do improve, it might not be enough to justify floating when we're already trading at some of the best levels EVER.   -Gus Floropoulos, VP, The Federal Savings Bank

Rate markets sold off in late PM action today, amid abundant comments from various Fed members.  My rate sheets today showed marginal improvement over yesterday's.  I'm not expecting significant more short term gains or losses.  If you've floated into the last week's pricing improvement, may be time to take your money off the table and lock up your gains.  Either way, pricing seems content where it's at, and that's certainly something we can all live with. -Ted Rood, Senior Originator

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