Opportunities in the Desert
portunities in the Desert – Words from Dean Rathbun, United American Mortgage Corporation
Health care and social assistance. All other sectors were quite low.
Posts Tagged ‘La Quinta Real Estate Market’
Challenges in California Housing Market
California’s housing market witnessed persistent challenges in June as home sales remained below the 300,000 benchmark for the ninth consecutive month. This trend was primarily influenced by the sustained elevation in interest rates during the preceding months. However, there was a glimmer of improvement, with the year-over-year decline in sales moderating, falling below 20% for the first time in twelve months.
Making a Smooth Transition, What to Gather Before You List
Making a Smooth Transition - When getting ready to sell your home, there are several obvious tasks sellers typically focus on, such as decluttering, addressing maintenance issues, and maintaining curb appeal. However, there are also less a...
June Newsletter
missed it or have not joined my mailing list, click the link below to read the latest market news, real estate market, and what is going on in the Desert. Enjoy!
La Quinta & Palm Springs Area Real Estate Market
about a possible government default have had negative effects on both interest rates and consumer sentiment and are directly impacting the housing market. While new home sales continued to improve as tight supply remained an issue in the existing housing market, demand could dip in the short term as rates remain elevated. With consumer spending staying solid and inflation not easing in the latest reading, the housing market could face additional headwinds as the Fed contemplate on having another rate hike in their June meeting.
Good Interest Rates and Homebuying Financing
Good Interest Rates and Homebuying Financing options for buyers who qualify and are interested in using a Jumbo Loan to purchase their home. Rates have jumped quite a bit this week as the 10-year Treasury has now cleared over 3.701% at tim...
May is “National Home Improvement Month.”
May is “National Home Improvement Month.” And what better way to celebrate than to find the Joy Levels in home remodeling projects?
The National REALTOR Association recently sent out a study of the costs of home remodeling projects vs Joy-specific home remodeling projects bring.
Let’s Stop the Madness!!
about a “penalty” that high FICO borrowers would have to pay on behalf of lower FICO borrowers. Initially, I was a little confused as to why all of the sudden interest in this topic from friends and family who typically have little interest in the mortgage industry aside from the occasional, “How’s business?” discussion.
A Word from Dean Rathbun
A Word from , Dean Rathbun with United American Mortgage : Rates are up again this week (April 21st, 2023) and I am now baffled. Yields continue to push up as the debate goes back and forth on the FED’s next move in May. When I did my first loan back in 1988 there was no such thing as 0 point loans. 1 or even 2 points were the common costs paid by consumers when closing a loan and analyzing their interest rate options. This is coming back now as the secondary markets have stopped paying up for mortgages with zero points. Why?…The mortgage markets are keenly aware that the majority of loans being done now will be refinanced soon rates come back down…which is heavily anticipated to happen within the next 2 years or less. When that happens the servicing companies incur what is called a “run-off” where the loans are paid off and refinanced. That makes the value of the mortgages less today since they will not have the interest being earned for a very long period of time.
What does it mean to be in a “Seller’s Market”?
What does it mean to be in a “Seller’s Market”? Let’s review what the difference is between a Buyers’ Market and Sellers’ Market: Buyers’ Market: There are more houses on the market than Buyers. (Favors the Buyers) Sellers’ Market: There are more Buyers than Houses in the Market. (Favors the Sellers)