Tag Archives: mortgage

Pacific Financial Mortgage

What it means for you that CA records highest home appreciation rates since 2013

Listen up…or read up…if you are a California homeowner, you need to know that the median price of homes in Cali is up 34 percent! This is the highest recorded annual home appreciation rate since 2013.  What does this mean for you? If you are currently paying Mortgage Insurance as part of your monthly payment,

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Pacific Financial Mortgage

Important Jobs Report Friday

As a nice kick-off to summer, the survey of average mortgage rates showed a little improvement last week as we headed off for the long Memorial Day Weekend. According to Freddie Mac’s weekly survey, average mortgage rates fell by .05 percent in their survey.  There’s lots of talk in the media about housing and whether

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Pacific Financial Mortgage

What’s Happening Now With Jobs, Inflation, and Rates

We’ve watched as mortgage rates have remained rather steady over the past three weeks and according to Freddie Mac’s weekly survey, averages remained below 3 percent for the 30-year fixed.  Friday’s job creation numbers dragged on markets showing a disappointing 266,000 new jobs created when a number much closer to 1 million was expected. Interestingly

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Pacific Financial Mortgage

Time (and inflation) look to be changing…

Last week, mortgage rates remained rather steady. And according to the latest survey published by Freddie Mac, the average fixed rates remain below 3 percent, continuing to offer opportunities to refinance or purchase.  However, there may be changes happening on the horizon that we need to be aware of. As we all know, inventory of homes remains a

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Pacific Financial Mortgage

We could see some increased volatility in rates and markets this week…

Mortgage rates again improved slightly last week, although volatility this week could lead to rates bouncing around a bit. According to the weekly survey put out by Freddie Mac, the average rate for a 30-year fixed rate mortgage fell by .04 percent.  Keep in mind that rates on average are still about .25 percent lower

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Pacific Financial Mortgage

Mortgage rates rode a healthy down-trend last week

Despite inflation pressures showing up in the data last week, mortgage rates rode a healthy down-trend last week, according to Freddie Mac’s weekly rate survey of average rates. Sam Khater, chief economist explained it this way, “the economy is improving on the demand side and on the supply side, a variety of goods and materials

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Pacific Financial Mortgage

We Actually Saw Mortgage Rates Drop a Little in Last Week’s Survey

Surprisingly, we actually saw mortgage rates drop a little last week, after seven consecutive weeks of increases, according to the latest survey of average rates put out by Freddie Mac. This week, however, could be a bit of a rocky road as we get more inflation news.  The flow of stimulus money into the economy

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Pacific Financial Mortgage

Housing Market Expecting Brisk Spring Home Buying Season, Despite Rates

Mortgage rates continued to inch higher last week according to Freddie Mac’s weekly survey of rates. We expect to see this trend continue as the yield on the 10-year Treasury bill moves higher as well. Despite rates moving a little higher, the housing market continues to be red hot and experts are predicting a brisk

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Pacific Financial Mortgage

Rates Remain Favorable, Despite Rising Steadily. What’s Next?

Since enjoying all-time lows over the past few months, average mortgage rates have steadily risen, coming up by an average of .30 percent since the lowest point in January. Regardless, home purchase activity remains brisk and we continue to expect a hot spring sales season for home buyers and sellers. We anticipate the trend for

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Pacific Financial Mortgage

Rates ticked higher last week…but not for long

As you may have heard in the news, mortgage rates did rise some last week as optimism in the economy’s recovery gained momentum and inflation fears remained alive and well. As we know, inflation is the archenemy of bonds and can cause rates to rise. Funny thing is, we got some data late in the week that inflation remains

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