Mortgage with David Pemberton

This typical home-sale profit represented a 38.6 percent return on investment (ROI) compared to the original purchase price. The typical ROI in the previous quarter was 37.5 percent and it was 33.7 percent a year ago. From ATTOM Data Solutions' third-quarter U.S. Home Sales Report.

Mortgage Forebearance Guidance- Fannie Mae/Freddie Mac released guidance for approving new mortgages for homeowners that are currently in or have participated in a forbearance for their existing mortgage. This is very helpful and will open up the opportunity of refinancing at the currently ultra low mortgage rates to many households that have been on hold while in forbearance.

Mortgage forbearance and uncertain outcomes- please be careful and ask lots of questions if you are considering a mortgage forbearance related to the Covid19 crisis. Forbearance is the temporary suspension of mortgage payments without incurring any lates fees or being reported late to the credit bureaus. After the forbearance period, you are expected to pay all suspended payments as a lump sum when monthly payments resume. If you are unable to do so the most likely remedy is ...a loan modification, which is a major derogatory credit event that impacts future mortgage qualifying. It is unlikely that mortgages in forbearance will be eligible for refinancing should a lower rate become available and it is uncertain how the absence of a continuous 12-month mortgage history may impact mortgage qualifying following the forbearance period. There are situations where forbearance will save people's homes. If you are considering it, be sure you understand all of the details of the forbearance agreement and construct a plan for repaying the accumulated payment balance that follows the forbearance period. Wishing you all the best at home and for your home. See more

The benefit of lower mortgage rates is not only shoring up home sales, but also providing support to homeowner balance sheets via higher monthly cash flow and steadily rising home equity.

Thank you Jay Rappa, Garage Construction Company, for bring me in to handle the renovation financing for this project. Renovation financing allows us to use the ‘as finished’ value for determining the maximum loan amount. Higher value means more dollars available for your project. For properties with sufficient equity cash-out loan programs can be customized to meet the project specific scenario.

After falling for the past 6 months mortgage rates are bouncing near their 2017 low. From a technical perspective rates may be confirming a false breakout and reversal as shown below. If so, they will be susceptible to a strong move higher as traders rush to reverse thier positions. That everyone is talking about lower rates ahead further supports the possibility of a bounce here. Case in point on the chart is the reversal at the October 2018 high; at the time when the media and senior bank officers were calling for rates to rise much higher. Thanks to JC Parets of Allstar Charts for the heads-up.

Say hello to the THREE HANDLE. Mortgage rates moved lower again over the month of June coming to rest in the high 3's. There is a nice opportunity here as homeowner equity is at all-time highs. Low rates and plentiful home equity offer many opportunities for homeowners who are considering home renovations, seeking to eliminate high or adjustable rate loans, or wanting to cancel their mortgage insurance.

There is a big jump in housing market sentiment over the spring months. Does this portend a solid summer for real estate? Fannie Mae's monthly National Housing Survey shows that more homeowners and renters are agreeing that: Home prices to increase; Mortgage rates will drop; And it is a good time to buy.

Having a great homebuying experience begins with doing your homework upfront. Knowing your numbers and the options for financing your dream home before you begin looking allows you to quickly focus in on the right price range and determine which homes in your range offer the best bang for your buck.

Funding home upgrades and renovation are a judicious use of home equity. The longer you own a home, the more equity you tend to accumulate and the more likely your home needs some TLC. Putting equity to work to improve your home and the experience of living there makes a lot of sense. It can also help maintain your home's value in relation to the other homes in your neighborhood. If you are considering a project, the recent drop in rates is your cue to get started.

Home equity is house wealth. When you purchase a home your down payment becomes the starting balance of your home equity. From there, principal repayment of your mortgage methodically increases the amount of your home equity. In California, real estate has a long term appreciation rate in excess of 5% per year, which makes owning a home here a tremendous vehicle for growing your wealth over a long time horizon. In 2018, the average California homeowner gained $20,000 in home equity according to CoreLogic.

LOOK OUT BELOW! Interest rates broke down and out of the triangle consolidation pattern that I recently highlighted. Following the direction of the larger trend, rates are moving lower. While there is some immediate improvement in rates, the larger expectation is that they will continue to move lower in the intermediate time frame. Is there an opportunity here? I can help you figure that out. Ask me how you can participate in the mortgage adoption program.

The future direction of mortgage rates may be on the line this week. Rates are currently balanced between two recent and divergent ranges. The extreme lows in 2017, which abruptly ended with a sharp transition higher in 2018 to 7-year highs. Currently, rates are sandwiched between these two ranges and in a classic, triangle consolidation pattern that began taking shape from the beginning of the year. Technical analysts expect consolidations like this to resolve in the direction of the recent trend, which is lower. With potential maket moving events, Brexit and a Fed meeting, this week we are watching closely.

Home values have historically faired well during recessions. The exception being the 2008 Great Recession when residential real estate lending standards were ultra loose and housing inventory was plentiful. Today's residential real estate market looks quite different with homes that have been financed under conservative lending guidelines and record low housing supply. Curious about the role of homeownership in household wealth accumulation and diversification? Let's talk!