Monday, October 3, 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     834 Fifth Ave, Units 7 and 8A New YorkNY 10065 with 5 bedrooms, 10 baths, and 12,000 sq.ft. is now reduced to $96,000,000.


834 Fifth Ave Units 7 & 8 A, New York, NY 10065

A once in a lifetime opportunity to live in the largest existing original apartment on Fifth Avenue. Originally listed for $120,000,000, it is situated on the 7th and 8th floors.  This magnificent front corner duplex boasts 20 rooms of unparalleled grandeur and scale. Resplendent with outstanding Central Park views, this sprawling residence features a graceful layout with beautiful hardwood flooring, soaring 12.5ft ceilings and classic original moldings.The first level of this home features a palatial entrance gallery which leads into the Central Park facing lower library and dining room. A grand staircase leads to the upper level living room which includes two fireplaces. Beyond is a gorgeous Library lined with magnificent 17th Centu ry leather walls. The owner's private quarters includes a master bedroom with an accompanying sitting room and fireplace, an original 1930's marbled and mirrored full bathroom and a dressing room with an additional adjacent full bath. Designed by renowned Manhattan architect Rosario Candela, 834 Fifth Avenue was built in 1931 and is considered to be one of his finest works. The 14-story limestone clad building consists of just 24 apartments. This legendary cooperative offers residents the highest level of service and privacy.This spectacular residence ranks as one of Rosario Candela's true architectural masterpieces.

834 Fifth Ave Units 7 & 8 A, New York, NY 10065

834 Fifth Ave Units 7 & 8 A, New York, NY 10065

834 Fifth Ave Units 7 & 8 A, New York, NY 10065



834 Fifth Ave Units 7 & 8 A, New York, NY 10065

834 Fifth Ave Units 7 & 8 A, New York, NY 10065

834 Fifth Ave Units 7 & 8 A, New York, NY 10065

#2     24860 Pacific Coast Highway, Malibu, CA 90265 with 6 bedrooms, 9 baths, and 10,000 sq.ft. is listed for sale at $30,000,000.

24860 Pacific Coast Hwy, Malibu, CA 90265

A spectacular contemporary bluff-estate in Malibu. Situated on a private 1.94-acre bluff, at the end of a gated tree-lined driveway. Enjoy sweeping ocean views from the moment one enters the foyer and stares down the 100-foot grand hallway. A peaceful interior offers Beaumaniere stone floors, dark wood, and walls that were hand-finished in white venetian plaster. Pocket doors throughout open to a lush tropical landscape with private steps leading down to Malibu Road. The exterior grounds feature an abundance of space for entertaining, with a pool, spa, bbq, and beautiful terraces with lounges. Perfect for casual indoor-outdoor living, this resort-like compound also features a state of the art tennis court, gym, guest-suite with its own entrance, staff quarters, and 6 luxurious bedrooms, including a his and hers master suite with a massage room, retreat, spa and fireplace.

24860 Pacific Coast Hwy, Malibu, CA 90265

24860 Pacific Coast Hwy, Malibu, CA 90265

24860 Pacific Coast Hwy, Malibu, CA 90265

24860 Pacific Coast Hwy, Malibu, CA 90265

24860 Pacific Coast Hwy, Malibu, CA 90265

24860 Pacific Coast Hwy, Malibu, CA 90265



24860 Pacific Coast Hwy, Malibu, CA 90265

#3       150 Woodland  Brookline, MA 02467 with 8 bedrooms, 12 baths and 26,623 sq.ft. is listed for sale at $90,000,000.


Born from the desire for ultimate privacy with city accessibility, 14± acres of untamed scrub and ledge were assembled into a single property, entirely reclaimed from the wild and transformed into a breathtaking tapestry of rolling lawns, ponds, sculpted rock outcrops and a horticultural encyclopedia of specimen plantings. Five miles from central Boston, this emerald island rises between the surrounding Brookline Country Club and Putterham Meadows Golf Course. Turf walkways and pathways meander through this extraordinary landscape and the winding driveway provides a multi-step reveal of this unique estate and its residence. The curving façade of Indiana limestone creates a home of singular distinction. Every exterior and interior stone was individually hand drawn ensuring a flawless finish. The appearance of simplicity is the ultimate challenge, achieved by creative architecture, sophisticated engineering and generations of the finest craftsmen.






150 Woodland Rd, Brookline, MA 02467



Today's Real Estate News 

Tear Downs Are on a Tear
By Steve Cook
Real Estate Economy Watch

Tear Downs Are on a Tear
Soaring home prices, shrinking inventories of homes for sale and a dearth of available lots for new home construction, especially in urban and close-in suburban locations, are creating a bull market for tear downs across the nation.

Approximately 7.7% of single-family home starts in 2015 were attributable to tear-down related construction, according to the latest estimates from National Association of Home Builders. Tear-down starts refer to the building of a home on a site where builders tore down an existing home to make room for a new one. NAHB estimates that last year some 55,000 single family homes were torn down to be replaced by new construction.
2015-Teardowns-02
Tear-down construction has become a significant trend in markets where the lack of available lots in desirable locations is driving up prices.  Tear downs are on a tear in the Los Angeles market, the New York City metro, the Pacific Northwest and throughout the Southeast, which accounted for 28,600 teardowns last year,– about 52% of the US total.
In Houston, permits for tear downs are up 22 percent this year.  Tear downs made news last month when a Houston house was torn down by mistake.  The demolition company blamed Google Maps for the error when they tore down a house that was a block away from the one that was supposed to be demolished.

Pressure to tear down aging single-family homes and replace them with new construction may be greatest in the Northeast, which has the nation’s oldest housing stock.  Many of its desirable locations are in densely settled cities, or near the ocean, where buildable open space is limited.

In Princeton, New Jersey, for example,  tear down are becoming commonplace.  “Tear downs are a result of a dearth of vacant lots,” says Neal Snyder, Princeton’s tax assessor. “There was a downward trend in the late 2000s, but now there is a boom with builders coming in and new homes being bought and sold.  Homes are appreciating Princeton, and as they do, the ratio I use to assess property taxes goes down.”

Tear downs also replace aging, outdated and potentially unsafe housing with modern homes built to code.  Newer homes are more energy efficient,  better insulated, use less electricity, meet current fire safety and construction codes and are wired for today’s cable, phone and appliance requirements.

Not everyone is happy about the tear down trend.  “Across the nation, a teardown epidemic is wiping out historic neighborhoods one house at a time. As older homes are demolished and replaced with dramatically larger, out-of-scale new structures, the historic character of the existing neighborhood is changed forever. Teardowns radically change the fabric of a community.  Without proper safeguards, historic neighborhoods will lose the identities that drew residents to put down roots in the first place,” says the National Trust for Historic Preservation. In 2002, the National Trust began putting “Teardowns in Historic Neighborhoods” on its list of America’s 11 Most Endangered Historic Places.

Preservationists are fighting tear downs by reducing or eliminating the economic pressure.  Popular tactics include changing zoning and land-use regulations to limit the size, placement, and square footage of a new house and new procedures for approvals, such as design review and conservation overlay districts to address the construction of replacement homes.

Counters the National Association of Home Builders:  “Teardowns frequently are said to have breathed new life into old neighborhoods and discouraged suburban sprawl.  Revitalizing older suburban and inner-city markets and encouraging infill construction is universally accepted as good public policy. Infill development, done wisely, can take advantage of existing infrastructure; provide higher densities in locations where mass transportation is already in place, and integrate new housing into the fabric of the community.  Even in the most historic of neighborhoods, structures that do not contribute to the overall character of the area are candidates for replacement with higher-quality, better-designed homes.”

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      18320 Colina Fuerte, Rancho Santa Fe, CA 92067 with 5 bedrooms, 5 baths, and 6237 sq.ft. is listed for sale at $5,395,000.

18320 Colina Fuerte, Rancho Santa Fe, CA 92067

This single story Covenant home set on a private, lusciously landscaped, usable lot boasts stone accents and soft contemporary details blending the exterior and interior beautifully at every turn. It features stunning light fixtures, bamboo and stone flooring, paneled office, theater, top of the line security system as wellas a  garage lift. Completing the package, there is a one bedroom guest house, studio, greenhouse, fruit trees and an incredible outdoor kitchen and entertainment area. California living at its best.

18320 Colina Fuerte, Rancho Santa Fe, CA 92067

18320 Colina Fuerte, Rancho Santa Fe, CA 92067

18320 Colina Fuerte, Rancho Santa Fe, CA 92067

18320 Colina Fuerte, Rancho Santa Fe, CA 92067

18320 Colina Fuerte, Rancho Santa Fe, CA 92067

18320 Colina Fuerte, Rancho Santa Fe, CA 92067
 
#2     2508 Ocean Front, Del Mar, CA 92014 with 5 bedrooms, 4 baths, and 2,519 sq.ft. is listed for sale at $11,250,000

2508 Ocean Front, Del Mar, CA 92014 Home For Sale - MLS #160053618

First time ever on the market! Located on Del Mars gorgeous white sandy beach, this home offers everything a beach house should with 35 frontage feet on the sand! The Great Room with fireplace and the Master Suite both front the ocean. Four additional generous sized bedrooms, and 2 car garage plus 3 additional parking spaces allows room for plenty of family and friends. Walk along the shore to abundant options for fine dining and shopping.

2508 Ocean Front, Del Mar, CA 92014 Home For Sale - MLS #160053618

2508 Ocean Front, Del Mar, CA 92014 Home For Sale - MLS #160053618

2508 Ocean Front, Del Mar, CA 92014 Home For Sale - MLS #160053618

2508 Ocean Front, Del Mar, CA 92014 Home For Sale - MLS #160053618

2508 Ocean Front, Del Mar, CA 92014 Home For Sale - MLS #160053618

2508 Ocean Front, Del Mar, CA 92014 Home For Sale - MLS #160053618

2508 Ocean Front, Del Mar, CA 92014 Home For Sale - MLS #160053618




















.
#3      14296 Dalia, Del Mar, CA 92014 with 6 bedrooms, 6 baths, and 7,685 sq.ft.
 is listed for sale at $4,995,000


Utter bliss in this exquisite, newly reconstructed home. A perfect blend of modern and traditional, using top grade materials and chic finishes, creating a warm, inviting living environment. The bright open floor plan offers 6 generous bedroom suites, Office / library w/Golf Course Views, disappearing Pocket Doors provide access to outdoor entertaining with beautiful limestone patios, beautiful chefs kitchen ,high-end designer details , First Floor grand master suite, Detached Guest Home, Yard with space.









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     290 Beech Road, Belvedere, CA 94920 with 5 bedrooms, 4 baths, and 3,516 sq.ft.  is listed for sale at $4,950,000.     

290 Beach Rd, Belvedere, CA 94920

Stunning new contemporary remodel construction. Open modern ambience with beautiful water views. An exciting new project on the water side of Beach Road. 4-5 bedrooms, large open great room with huge glass folding doors to large view deck area. Two car garage with elevator to main house entry. Otherwise easy stairs from the street. View studio guest suite or office in separate area under the garage.

290 Beach Rd, Belvedere, CA 94920

290 Beach Rd, Belvedere, CA 94920

290 Beach Rd, Belvedere, CA 94920

290 Beach Rd, Belvedere, CA 94920

#2      2526 Francisco Street, San Francisco-Marina, CA 94123 with 5 bedrooms, 
3 baths, and 3,945 sq.ft. is listed for sale at $6,200,000. 

2526 Francisco St, San Francisco, CA 94123

This five bedroom, 4.5-bathroom home is a contemporary masterpiece! Wonderful features include an entirely open living level leading out onto a deck and lush garden, a stunning master suite, views of the Palace of Fine Arts, and gorgeous designer finishes throughout this lovely home, set in a great Marina location

2526 Francisco St, San Francisco, CA 94123

2526 Francisco St, San Francisco, CA 94123



2526 Francisco St, San Francisco, CA 94123

2526 Francisco St, San Francisco, CA 94123

2526 Francisco St, San Francisco, CA 94123

2526 Francisco St, San Francisco, CA 94123

 #3        13686 Page Mill Road, Los Altos Hills, CA 94022 with 5 bedrooms, 7 baths, 
and 5,250 sq.ft. is listed for sale at $6,295,000

13686 Page Mill Rd, Los Altos Hills, CA 94022

Attention to detail and elegant contemporary finishes exemplify this newly finished home with 5 bedrooms each with en-suite baths and 2 elegant powder rooms, open floor plan with a spacious dining/living room and family room/kitchen/nook combination opening to the outdoor California Room with fireplace; gourmet kitchen features custom wood cabinets, large island with Calcutta Gold marble slab, complimented by Caesarstone countertops and professional Thermador stainless steel appliances; exquisite Porcelanosa tiles throughout, wide plank European Oak floors, Pella Designer Series triple pane windows; Fleetwood sliding doors opening the indoor space to the thoughtfully designed outside covered patios. Flat, almost one acre property is gated and fully landscaped. An expansive and private backyard features a patio with built-in gas barbeque, and a 40 foot solar-heated swimming pool with waterfall and spa, perfect for entertaining.

13686 Page Mill Rd, Los Altos Hills, CA 94022

13686 Page Mill Rd, Los Altos Hills, CA 94022

13686 Page Mill Rd, Los Altos Hills, CA 94022

13686 Page Mill Rd, Los Altos Hills, CA 94022

13686 Page Mill Rd, Los Altos Hills, CA 94022

13686 Page Mill Rd, Los Altos Hills, CA 94022

13686 Page Mill Rd, Los Altos Hills, CA 94022



Today's Top Three LA Luxury Estate
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     20851 Big Rock Drive, Malibu, CA 90265 with 3 bedrooms, 3 baths, and 2,910 sq.ft. is listed for sale at $3,875,000.

20851 Big Rock Dr, Malibu, CA 90265

Located behind a privacy gate in the close-in area known as Big Rock, this stunning Architectural ocean-view home offers a welcoming feeling of privacy, luxury and relaxation. Enjoy the gorgeous coastline views from Santa Monica Bay to Point Dume, which are visible from the great room, spacious wrap-around deck. Living room has a wall of glass that disappears to create a total indoor/outdoor living space. Beautiful natural wood floors and custom wood wall details, high ceilings throughout, stone counters & contemporary style and flair all enhance this very special home. Generous master suite, with ocean views, electronic shades, good closets and a fabulous master bath. Complete with 2 additional bedroom suites, a private office and den/TV room, the home reflects uncompromising standards of home design and construction. A private, outdoor area is enhanced by the lap pool, spa, sunning and BBQ areas. This is a special home that will capture your emotions and live up to your expectations.

20851 Big Rock Dr, Malibu, CA 90265

20851 Big Rock Dr, Malibu, CA 90265

20851 Big Rock Dr, Malibu, CA 90265

20851 Big Rock Dr, Malibu, CA 90265

20851 Big Rock Dr, Malibu, CA 90265

20851 Big Rock Dr, Malibu, CA 90265


#2     9311 Readcrest Drive, Beverly Hills, CA 90210 with 6 bedrooms, 7 baths and 7,400 sq.ft. is listed for sale at $9,888,000


Newly built and set behind gates this striking Architectural home is sited and designed to maximize the spectacular views. A private drive and zen like cascading water features lead to a dramatic entry with soaring spaces and sliding floor to ceiling walls of glass. Unmatched for indoor/outdoor entertaining, with expansive decks, pool, spa and outside dining area. Top of the line finishes throughout. Stunning gourmet kitchen boasts a massive center island, wet bar, breakfast bar and sensational glass wine room. Four ensuite bedrooms on the top level include a gorgeous master suite with soak tub, double sinks, walk in shower and panoramic views. Other features include an office and downstairs theater. 3 car attached garage with additional parking. An entertainer's dream home and priced to sell! 








#3      2915 Patrici` Avenue, Cheviot Hills-Rancho Park, CA with 4 bedrooms, 4 baths, and 3,210 sq.ft. is listed for sale at $4,395,000.

2915 Patricia Ave, Los Angeles, CA 90064

Two-story Gerard Colcord masterpiece; an architectural triumph. This classical Spanish Colonial Revival- style home is beautifully restored to its original glamour. This home brings out trademark elements such as a gothic-arched door, white plastered walls, casement windows, tile roof, hardwood floors, exposed wood beams, wrought iron railings and a classic wood burning fireplace. This kitchen is now reimagined with new lacquered cabinetry and hand crafted custom tiles, top of the line appliances, transitioning to the breakfast area. All bathrooms were updated while maintaining the true style and glamour. The 2nd floor has a magnificent master bedroom, which leads to a balcony with stunning city views. Brickwork and hand-made terra cotta walkways with custom tiles. Garden highlighted by fruit trees and flowers. Private studio/guest house with new custom cabinets and hardwood floor
.
2915 Patricia Ave, Los Angeles, CA 90064

2915 Patricia Ave, Los Angeles, CA 90064

2915 Patricia Ave, Los Angeles, CA 90064

2915 Patricia Ave, Los Angeles, CA 90064

2915 Patricia Ave, Los Angeles, CA 90064

2915 Patricia Ave, Los Angeles, CA 90064

2915 Patricia Ave, Los Angeles, CA 90064

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     313 Prospect, Seattle-Queen Anne, WA 98109 with 5 bedrooms, 6 baths and 4,669 sq.ft is listed for sale at $3,550,000

313 Prospect St, Seattle, WA 98109


Barcelo Homes presents a new luxury condo alternative atop the premier foothill of Queen Anne. Enjoy panoramic views of the Seattle city skyline, Npace needle, and Sound. A sophisticated as ell as functional custom oasis with soaring ceilings, floor-to-ceiling windows, folding glass walls, architectural steel and glass suspended walkway, integrated surround sound system, wine cellar, multi-level decks, designer chefs kitchen, outdoor kitchen, and seamlessly connected indoor and outdoor living areas.

313 Prospect St, Seattle, WA 98109

313 Prospect St, Seattle, WA 98109

313 Prospect St, Seattle, WA 98109

313 Prospect St, Seattle, WA 98109

313 Prospect St, Seattle, WA 98109

313 Prospect St, Seattle, WA 98109

313 Prospect St, Seattle, WA 98109



#2     8233 W Mercer Way, Mercer Island, WA 98040 with 5 bedrooms, 7 baths, and 10,030 sq.ft. is listed for sale at $13,000,000.






















East Coast Cool on the Westside. Crisp and classic style awaits at this expansive waterfront estate with 100 ft, private dock & seaplane lift. Soaring ceilings give an airiness and volume to each room. Awash in sunlight, the entertaining spaces capture lake views. All bedrooms ensuite. A luxurious master suite is its own private getaway. Outdoor living and a veranda for summer afternoons to fall dinners to Superbowl Sunday & beyond. Guests will enjoy staying in the separate lighthouse retreat.




















































































#3     15528 SE 53rd Place, Bellevue, WA 98006 with 4 bedrooms, 5 baths, and 
5,551 sq.ft. is listed for sale at $2,088,000.

15528 Se 53rd Pl, Bellevue, WA 98006


Panoramic unobstructed views! Climb to a mountain peak for a once in a lifetime view or live it here everyday! All bedrooms are en suite. All levels have big views! Guest suite has its own entry path from garage. Peaceful orientation just steps from the summit high point. Homes original owners have taken great care of this treasure. Private neighborhood club available for your celebrations also offers tennis, swimming, & community events. Experience one of the summits finest views!

15528 Se 53rd Pl, Bellevue, WA 98006

15528 Se 53rd Pl, Bellevue, WA 98006

15528 Se 53rd Pl, Bellevue, WA 98006

15528 Se 53rd Pl, Bellevue, WA 98006

15528 Se 53rd Pl, Bellevue, WA 98006

15528 Se 53rd Pl, Bellevue, WA 98006

15528 Se 53rd Pl, Bellevue, WA 98006

15528 Se 53rd Pl, Bellevue, WA 98006


Today's Mortgage Rates                                                                     12 months

ProductTodayYesterdayChangeLowHigh
30 Yr FRM3.39%3.39%--3.34%4.11%
15 Yr FRM2.73%2.73%--2.69%3.30%
FHA 30 Year Fixed3.25%3.20%+0.053.15%3.75%
Jumbo 30 Year Fixed3.53%3.52%+0.013.41%3.93%
5/1 Yr ARM2.84%2.80%+0.042.80%3.10%
Updated: 9/30/16 1:59 PM
Mortgage Rates Mixed, But Closer to Recent Lows
Sep 30 2016, 3:47PM


Mortgage Rates were mixed today, with some lenders in slightly weaker territory while others offered modest improvements versus yesterday.  The dichotomy has to do with the timing of yesterday's market movements.  Bond market began the day in weak territory yesterday but improved noticeably by the end of the day.  Some lenders sent out updated (better) rate sheets while others stood pat.  Lenders whose rates increased today tended to come from the group that offered improvements yesterday afternoon.  Long story short, there was a brief window of the week's best rates for some lenders yesterday with everyone getting mostly back on the same page today.

Fortunately, that page is still a good one.  While rates aren't quite as low as they were earlier this week, they're still much lower than they were earlier this month.  3.375% is still the most prevalent conventional 30yr fixed quotes on top tier scenarios.  That's the lowest stably-held rate of all time (there have been lower rates, but only for a few days here and there), even though the upfront costs are slightly higher than they were in early August.  That's splitting hairs though!  The point is that, unless you're examining day-to-day rate movement under a microscope, rates have been holding steady near all-time lows.

Loan Originator Perspective


If you missed this morning's opportunity to lock and your lender has already repriced for the worse, here is what i would advise.  If the 10 year closes at or below 1.60 i would float until Monday.  If your lender hasn't repriced worse or if we close over 1.60, I would lock in today if closing within 30 days.   -Victor Burek, Churchill Mortgage

MBS prices have remained at the recent highs, which are not far off from all time highs.  I would strongly consider taking the risk off the table and locking in at these levels, even though I am tempted to float the weekend and see how the Deutsche Bank drama plays out.  Today closes the month and the quarter, and we now look to December for a possible Fed rate hike.  We may not be at the lowest rates ever, but we sure are close.  Trying to catch a falling knife is never easy, and can be extremely painful if mistimed. -Gus Floropoulos, VP, The Federal Savings Bank

Friday afternoon saw treasury yields back at 1.60, which is exactly where we started Monday.  The last trading day of the month often sees bonds rally due to portfolio requirements, but today seems to be an exception.  Like much of the past few months, both treasuries and MBS seem content at current levels.  I don't see a great deal of potential in floating, if the news of possible German bank defaults didn't boost bonds, not sure what will.  Float with caution, or lock and relax.  Happy Friday! -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.  Most importantly, have a great day!

    Tom Furino

    email:                 furtree@msn.com 
    phone/text        619-944-8749