Whoa! What in the wild world of sports happened yesterday?!  Mortgage rates absolutely tumbled, which is obviously great news for the housing market.  We actually saw rates on 30 year fixed rate mortgages drop as low as 5.25%. So what happened? In a bold move, the Fed announced that it would be buying up to $500B in mortgage bonds backed by the “Maeâ€? triplets, Fannie, Freddie and Ginnie.  Most of my sources think this was a smart move.  The net … [Read more...]
The Fed Announces It Will Buy a Half Trillion Dollars in Mortgage Bonds; Interest Rates Tumble
Pasadena CA Homes for Sale & Interest_ing Rates

When you hear the word "sensitive" the Pasadena real estate market is probably not the first thing that springs to mind. That being said, we are probably in the midst of the most sensitive housing market in years. Volatility will continue to reign, until time has a chance to cure the current ills. If you are looking to buy a property, there is no more important factor than your interest rate. It can make or break your deal. A slight change can end up costing you hundreds if not thousands of … [Read more...]








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