Steve Patronete, Simi Valley Real Estate,

For Rent: House, 4+2 A/C Spa 1364 Sq Ft. East Simi Valley $2,900.00 per month. Pets and kids welcome. Apply Link: https://apply.link/gdtjs https://www.zillow.com//4582-Alpine-St-Simi/16463049_zpid/

Feds Cut Rates by .25%, Zero Effect on Markets~Why? To no one’s surprise, the Fed cut the target rate by .25%. The only change in the Fed comments was their statement which stated there is strengthened household spending rising at a strong pace. Overall, there wasn’t anything from the Fed today to move mortgage rates lower just a steaming hot cup of disappointment. Please note that these Fed rate decisions and the commentary that comes with them are already priced in to ...the Mortgage Backed Securities (MBS) markets months before the actual rate cut announcement. Seriously, mortgages are pricing off of Fed rate expectations for 2021 right now. After the Fed came and went home loan rates actually ticked UP slightly. Why? The US economy is not slipping into a recession. Mortgage rates trade just like the stock market which is based on investor expectations. When the expectation is the economy is softening and/or the Fed is going to lower rates this causes Mortgage Backed Securities (MBS) to improve causing rates to go down. The anticipation the Fed would be lowering rates in the future is the reason rates started trending downward a few months ago. Mortgage Backed Securities move ahead of the Fed. If there’s an expectation the Fed will drop rates and this doesn’t happen, rates will move UP since the anticipated downward move didn’t happen. Rates will then go up to compensate for the lack of Fed action. Bottom line, the Fed dropping rates is a non-event since it’s already built into pricing and happens well before the Fed does anything. Feel free to reach out anytime and I’ll be happy to do an analysis of your current mortgage to see if there are any savings. Many refinances today don’t even need an appraisal which saves time and money.

Open House Sunday 1-4 1529 Bodie Ave, Simi Valley $0 Down & First time home buyer programs available! Amazing Kitchen, Pool, & Solar

Open House Sunday July 29, 2018 1-4 PM

FIXER! Just Listed, Contractors Special. 16,800 square foot lot.

Looking for a really nice home for rent in West Hills CA?

The Classic Car Show at the LA Convention Center starts this Friday Through Sunday. Who's going?

Merry Christmas and Happy New Year