Tuesday, October 4, 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      300 Delfern Drive, Bel Air, CA 90077 with 11 bedrooms, 16 baths and 20,000 sq.ft.+  is listed for sale at $79,000,000.



300 Delfern Dr, Los Angeles, CA 90077

The Edie Goetz Estate" is a trophy compound in the heart of Holm by Hills, sited on two contiguous properties and totaling over 4.38 acres. Available for the first time in over 25 years. A magnificent example of Georgian Revival architecture originally completed in 1938 and designed by Gordon Kaufman, classic elements include high ceilings, grand public rooms and ornate wrought iron details. In 1947, Edie Goetz engaged legendary Hollywood designer Billy Haines to enhance the main house as a showplace for lavish events. One of the most iconic rooms is the paneled art deco modern library/bar also designed by Haines. On what many consider the finest street in Los Angeles this private paradise is set behind large gates and offers complete privacy. Features of the estate include: verdant manicured grounds, 3 guest houses, 11 bedrooms, 2 swimming pools, tennis court, and rare specimen trees. A rare opportunity to own a piece of Hollywood history.


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300 Delfern Dr, Los Angeles, CA 90077




300 Delfern Dr, Los Angeles, CA 90077

300 Delfern Dr, Los Angeles, CA 90077

300 Delfern Dr, Los Angeles, CA 90077


#2     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

#3     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



Today's Real Estate News 

Affordability Backslides Housing's critical path issue may be attainability in builders' minds; however, it's considered an effective anti-development tactic among many localities.

By John McManus
Builder News 

It's already the issue that keeps builders, developers, architects, and their supplier partners up at night. And, it's getting worse. And, you know what? It's going to get worse still.It's housing affordability. 

 Here is new data from ATTOM Data Solutions (RealtyTrac) Home Affordability Index for third quarter 2016, which indicates one in four U.S. county housing markets were less affordable than their historic affordability averages, up from 22% the prior quarter, and up from 19% a year earlier.

Prices--for sale and for rent--keep rising, widening gaps between income gains and monthly home payments because the demand for housing exceeds supply, especially for middle- and lower-tier price bands of new, used, for-sale, and for-rent housing.The mismatch between supply and demand--one that is likely to continue for the near future-- is exacerbated by cost creep that labor capacity constraints and over-regulated lots have fueled.
         





Out of the 414 counties analyzed in the report, 101 counties (24 percent) had an affordability index below 100 in the third quarter of 2016, meaning that buying a median-priced home in that county was less affordable than the historic average for that county going back to the first quarter of 2005.

Counties less affordable than their historic averages in Q3 2016 included Harris County (Houston), Texas; Kings County (Brooklyn), New York; Dallas County, Texas; Bexar County (San Antonio), Texas; and Alameda County, California in the San Francisco metro area.
Affordability worsened in 261 counties (63%) compared to a year ago, including Los Angeles County, California (2% worse); Harris County (Houston), Texas (35% worse); Maricopa County (Phoenix), Arizona (3% worse); Miami-Dade County, Florida (5% worse); Queens County, New York (1% worse); and King County (Seattle), Washington (2% worse).

According to BUILDER sibling Metrostudy chief economist Mark Boud, housing has a shortfall of 2.8 million unbuilt homes, based on demand fundamentals. Until there are more houses developed and built--especially for pent-up younger, more financially challenged households, price and rent power will continue to push up home values for new and resale homes. And what this means, for builders, is more up-at-night worries because they don't feel they can pull the trigger on lower priced homes, especially as labor and lot costs push upward.

The gorilla in the room, of course, is that while backsliding affordability feels like a problem for folks in housing, it's actually a strategy on the part of municipalities who'd like to freeze development.

One of the ways to suppress residential development--particularly for less well-heeled residents--is to layer costs in money and time into the home site permitting and development process, and then press "accelerate." 

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      4447 La Noria, Rancho Santa Fe, CA 92067 with 5 bedrooms, 5 baths, and 
6,160 sq.ft. is listed for sale at $2,795,000.

4447 La Noria, Rancho Santa Fe, CA 92067

First time on the market, this private gated estate is situated on over 4 sprawling acres on the Westside of the Covenant in Rancho Santa Fe. Beautiful, peaceful and serene with views to the Pacific Ocean. The long and meandering driveway leads you to this five bedroom estate. The residence features a kitchen/family room combination with fireplace, informal dining, bar and doors that lead to a patio overlooking the private grounds, graceful pastures and barn. 

4447 La Noria, Rancho Santa Fe, CA 92067

4447 La Noria, Rancho Santa Fe, CA 92067

4447 La Noria, Rancho Santa Fe, CA 92067

4447 La Noria, Rancho Santa Fe, CA 92067

4447 La Noria, Rancho Santa Fe, CA 92067

4447 La Noria, Rancho Santa Fe, CA 92067

4447 La Noria, Rancho Santa Fe, CA 92067

4447 La Noria, Rancho Santa Fe, CA 92067


#2      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
 

#3     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



























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     345 Golden Gate Avenue, Belvedere, CA with 6 bedrooms, 10 baths, and 8,885 sq.ft. is listed for sale at $16,500,000.

345 Golden Gate Ave, Belvedere, CA 94920


Purchased by Silicon Valley venture capitalist Tom Perkins in 1972/73. Close to downtown Tiburon and ferries to SF. Stone paved motor entry, 3-car garage. Apartment over the garage.  Grand Salon with coffered tray ceilings, linen fold paneling, limestone fireplace and sweeping GGB views. Formal DR to seat 18. Master Suite with majestic views, his and her dressing rooms & baths. Elevator, greenhouse, pool, cabanas.

345 Golden Gate Ave, Belvedere, CA 94920

345 Golden Gate Ave, Belvedere, CA 94920

345 Golden Gate Ave, Belvedere, CA 94920

345 Golden Gate Ave, Belvedere, CA 94920

345 Golden Gate Ave, Belvedere, CA 94920

345 Golden Gate Ave, Belvedere, CA 94920

#2       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

#3      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


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     711 N Oakhurst Drive, Beverly Hills, CA 90210 with 5 bedrooms, 6 baths, and 5,535 sq.ft. is listed for sale at $10,995,000.

711 N Oakhurst Dr, Beverly Hills, CA 90210

Located in the prime Beverly Hills Flats, this Elegant Villa is situated on an almost 20,000 sq.ft. lot with an ample circular front driveway and motorcourt with an expansive backyard. Enter into the foyer that leads to the graceful formal living room with fireplace. Exquisite features throughout include hardwood and  marble floors, high coffered and backlit ceilings, and intricate paneling and moldings. Additional public rooms on the main level include the formal dining room, spacious family room with fireplace and built-ins, with a beautiful gourmet kitchen including abundant cabinetry, large center island, professional appliances, and breakfast area with French doors opening to the back patio. The private master suite is situated on the main level & offers a sumptuous bath with dual vanities, spa tub and separate shower. 4 add'l bedroom suites  and powder room complete the interior. The backyard is a private oasis offering great space for relaxation and entertaining with sprawling lawns, pool, spa, patios, and pergola.

711 N Oakhurst Dr, Beverly Hills, CA 90210

711 N Oakhurst Dr, Beverly Hills, CA 90210

711 N Oakhurst Dr, Beverly Hills, CA 90210

711 N Oakhurst Dr, Beverly Hills, CA 90210

711 N Oakhurst Dr, Beverly Hills, CA 90210

711 N Oakhurst Dr, Beverly Hills, CA 90210

711 N Oakhurst Dr, Beverly Hills, CA 90210

#2     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

#3     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! 







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     5207 146th Street SE, Bellevue, WA 98006 with 4 bedrooms, 3 baths, and 
3,710 sq.ft. is listed for sale at $2,250,000.

5207 146th Ave Se, Bellevue, WA 98006

Expansive views of Seattle and Olympics views make this 2007 custom built residence truly unique. Inspired by mid-century design with butterfly roof, walls of windows and natural materials to seamlessly blend interior space w/nature. Custom fir cabinets, gourmet kitchen, mahogany floors, ironwood terraces and solar panels. Bellevue's Hilltop Community is an enclave of architecturally designed homes rooted in stewardship for the environment. Amenities include 1.5 mile trail, play field, swimming pool and tennis.

5207 146th Ave Se, Bellevue, WA 98006

5207 146th Ave Se, Bellevue, WA 98006

5207 146th Ave Se, Bellevue, WA 98006

5207 146th Ave Se, Bellevue, WA 98006

5207 146th Ave Se, Bellevue, WA 98006

5207 146th Ave Se, Bellevue, WA 98006

5207 146th Ave Se, Bellevue, WA 98006

5207 146th Ave Se, Bellevue, WA 98006

5207 146th Ave Se, Bellevue, WA 98006

5207 146th Ave Se, Bellevue, WA 98006

#2     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


#3     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.

















































































Today's Mortgage Rates                                                                     12 months

ProductTodayYesterdayChangeLowHigh
30 Yr FRM3.42%3.39%+0.033.34%4.11%
15 Yr FRM2.75%2.73%+0.022.69%3.30%
FHA 30 Year Fixed3.25%3.25%--3.15%3.75%
Jumbo 30 Year Fixed3.56%3.53%+0.033.41%3.93%
5/1 Yr ARM2.85%2.84%+0.012.80%3.10%
Mortgage Rates Near 2-Week Highs
Oct 3 2016, 3:47PM



Mortgage Rates were higher today, with most lenders at their highest levels in nearly 2 weeks.  The bond markets that underlie mortgage rate movement responded negatively to this morning's slightly stronger manufacturing data.  In general, because bonds represent a way for investors to seek lower, safer returns, stronger economic data causes bonds to weaken and rates to move higher.  But most lenders were already out with today's higher rates by the time the manufacturing data hit.  That means lenders avoided raising rates on Friday as bond markets weakened into the afternoon.

What's the point of all this?  Simply put, much like Friday afternoon, we've had bond market weakness today that has yet to be priced-in to lenders' rate sheets.  That means rates start with a bit of a disadvantage tomorrow, and would require decent improvements in the morning in order for lenders to offer rates that are the same or better versus this afternoon.
 3.375% is still the most prevalent conventional 30yr fixed quotes on top tier scenarios, but 3.5% gained some market share with today's weakness.  

Loan Originator Perspective


September has passed, and potentially Deutsch Bank's immediate liquidity woes as well. Bond markets were (surprise) flat today, and my pricing was minimally better than Friday's.   The only immediate  motivation for floating I see is Euro angst, and some of that is already priced into current rates.  Locking here would not be a mistake, especially if closing in October.  -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