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Interpreting Housing Economic Indicators
Analysts, policy makers and investors closely follow economic indicators that track the condition of the housing market. Here’s some background information on these important indicators. Housing Starts Housing starts is considered the most important report on the housing sector due to its large ripple effect in the economy when buyers purchase appliances and household furnishings. [...]
Read Full Post | Make a Comment ( None so far )SCV’s Mortgage Update-FHA Loans
The Renno Lending Team of Prospect Mortgage, LLC. Loan Officer Keith Renno: 661-290-3817 Jason Reno: 661-290-3819 therennolendingteam@prospectmtg.com
Read Full Post | Make a Comment ( None so far )Making the Most of Social Networks
Social networking sites are a great way to nurture your professional network in Santa Clarita, CA. For business professionals, the most popular are Facebook and LinkedIn. These tools greatly facilitate your ability to meet people, exchange information on a consistent basis, build relationships and position yourself as an industry expert. Getting started is easy. On [...]
Read Full Post | Make a Comment ( None so far )Mortgage Rate Update
The mortgage industry received a nice boost because the Fed is going to buy Mortgage Bonds. The Federal Reserve announced that it would purchase $600B of Mortgage-Backed Securities (MBS) backed by Fannie Mae, Freddie Mac, and Ginnie Mae. This brilliant move by the Fed is designed to help increase the availability of credit, while lowering [...]
Read Full Post | Make a Comment ( 1 so far )Seek Pre-Approval
What’s the difference between pre-qualification and pre-approval? Pre-qualification is the starting point in your search for mortgage financing. A quick snapshot is taken which includes income, existing debt, savings, length of employment, etc. All of these factors will then be analyzed to determine your loan eligibility. Pre-approval is written documentation that shows you have the [...]
Read Full Post | Make a Comment ( 1 so far )Act Now, Before the Fed Does
The Federal Reserve is scheduled to meet this week and announce its new Policy Statement and Interest Rate Decision Wednesday…and will cut the Fed Funds Rate once again. This is no big surprise. Throughout 2008, the Fed has lowered key interest rates in an effort to stimulate the economy – including cuts in its Fed [...]
Read Full Post | Make a Comment ( None so far )Top 3 Benefits of HR 3221
The Housing and Economic Recovery Act of 2008 is a $300 Billion rescue plan aimed at helping struggling homeowners avoid foreclosure. Although the bill is several hundred pages long and contains a number of far-reaching provisions, here are the top three changes that may benefit you: 1. Tax credits. First-time home buyers who purchase their [...]
Read Full Post | Make a Comment ( 1 so far )“Buy and Bail” What is it?
The phrase “Buy and Bail” refers to a current home owner who purchases another home then stops (bails) on their current mortgage obligation. During the first part of 2008 banks caught on that this was a popular situation and saw the need to prevent it. This was happening across the country, including the Santa Clarita real estate market. [...]
Read Full Post | Make a Comment ( 1 so far )Mortgage Market Update
Interest rates have showed little movement thus far today. After a 238 point drop in US Mortgage Backed Securities (Mortgage Bonds) last week causing rates to rise, Mortgage Bonds should be oversold and ready for a bounce back helping lower rates. The Government announced a plan to use $250 Billion of the $700 Billion from the bail [...]
Read Full Post | Make a Comment ( 1 so far )Home Buyers Face Decisions that Affect Their Long-Term Financial Picture
Seek a Qualified Mortgage Consultant to Ensure the Best Results By Keith & Jason Renno, Mortgage Consultants Pacific Funding Mortgage Division Santa Clarita, CA – Taking the step into home ownership is one of the most important financial decisions a person will make in their lifetime. There are many factors to consider when embarking on [...]
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