According to the Associated Press, the housing market is still struggling, recording its "worst summer in more than a decade." But the silver lining to this statistic is that because of low rates, more homeowners are choosing to refinance their home this fall. While no one is sure how long rates will remain low, the time to review your financial goals is now, while the market remains in consumers' favor.
Lock in a Low Mortgage Rate
Most likely, you are in a situation where your rate and monthly payment can be reduced, and you can use that cash to accomplish other goals, whether it is home remodeling or personal savings. My friend and mentor, Tim Birkmeier, Vice President of Quicken Loans, stresses the importance of assessing your finances before the typical extra holiday expenditures and before the new year begins so that you have a financial plan that makes sense for your specific situation.
Reduce Your Monthly Payment With a San Jose Mortgage
Evaluate your financial spending and saving and see if mortgage refinancing is the right choice for you. As a Quicken Loans mortgage professional licensed in California, I have helped many clients refinance into a lower mortgage payment and save thousands of dollars over the life of their loan. Research your refinance options, and if you're ready to move forward, get in touch with me at Quicken Loans today!
It's nice to hear some good news in this jobless recovery. Rates on 30-year mortgages matched the lowest level in decades and rates on 15-year loans dropped to their lowest point in nearly 20 years.
According to the San Jose Mercury News, mortgage buyer Freddie Mac said the average rate for 30-year fixed loans fell to 4.32 percent, the lowest on record since 1971.
The economy is still in a tough spot, that's nothing new. Low rates have failed to boost a struggling housing market, which had its worst summer in more than a decade. Fall sales are not expected to be much better.
So where's the bright spot in this hurricane of financial news?
Take Advantage of San Jose Mortgage Rates
No one is sure how long these historic mortgage rates will continue, but there's no denying that the time to get started on that home refinance you've been wondering about is right now.
While many are extremely cautious with any large financial decisions because of the faltering economy, I think everyone should at least consider refinancing before rates go back up. Shopping around for the best rates is recommended, but don't wait too long. As good friend and Vice President of Quicken Loans Joel Gurman says "Don't float on rates, lock-it in!"
Act Now While San Jose Mortgage Rates are Still Low
Evaluate your financial situation and see if mortgage refinancing is the right choice (it probably is). Refinancing will save you cash by lowering your monthly mortgage payment. Depending on your financial situation, you could save thousands in interest by locking-in a lower rate.
As a Quicken Loans mortgage professional licensed in San Jose, I have helped many clients refinance into a lower monthly mortgage payment with the low San Jose mortgage rates that are available. Research your refinance options and if you're ready to move forward get in touch with me at Quicken Loans today!
The economy is bad, that's nothing new. But, it seems to be getting better!
According to the San Jose Mercury News, a survey released Thursday shows that while sales dropped in August to an 18-year low, they fell less sharply than they did in July. Prices rose year over year, although the report showed they dipped month-to-month.
August sales of resale single-family homes in Santa Clara County fell about 12 percent from 1,203 to 1,058. San Mateo County came out even better in August, with sales actually climbing 2.8 percent from 465 to 478.
Bay Area Home Prices
Median prices moved up in both counties from a year earlier -- 6.8 percent in Santa Clara from $515,000 to $550,000, and nearly 16 percent in San Mateo from $585,000 to $676,000.
Overall, the Bay Area showed nearly an 11 percent drop in sales and a 9.3 percent rise in the median price from August 2009.
Worries about job security, a lousy job market, and loss of home-buyer tax credits have all caused the decline in home sales. Fortunately, there is a bright spot for those looking for some financial security in these uncertain times.
Take Advantage of San Jose Refinance
Mortgage rates are at record lows. Really, rates haven't been this low since they opened up the first McDonalds in the 50's! The opportunity to ensure you lower your monthly mortgage payment and save money is here.
No one is sure how long low mortgage rates are going to last, but there's no denying that the time to get started on that home refinance you've been wondering about is right now.
While many are extremely cautious with any large financial decisions because of the sputtering economy, I think everyone should at least consider refinancing before rates go back up. As good friend and President of Quicken Loans Jay Farner says, "Don't wait, rates may never be this low again!"
Talk to a San Jose Refinance Expert
Evaluate your financial situation and see if a San Jose refinance is the right choice. Depending on your financial situation, you could save thousands in interest by locking-in a lower rate.
As a Quicken Loans home loan expert licensed in San Jose, I have helped many clients buy a new home or refinance into a lower monthly mortgage payment with a San Jose refinance. Whether you're looking for any home loans, FHA loans, fixed-rate, or adjustable rate mortgages, if you're ready to move forward get in touch with me at Quicken Loans today!
Home sales are down because of the bad economy, that's no secret. But considering the number of foreclosures in recent months, you'd think there'd be a large number of foreclosed properties available on the market. Not so.
According to the San Jose Mercury News, thousands of homes in Santa Clara and San Mateo counties remain stuck in the foreclosure process as lenders continue to offer relatively few foreclosed homes for sale.
In a report prepared by ForeclosureRadar, a Discovery Bay real estate research company, the August report suggests that the banks are either swamped or they're controlling foreclosure sales to avoid flooding the market, experts said.
3,947 Santa Clara County homes and 926 homes in San Mateo County are in the so-called preforeclosure process, meaning they have received notices of default but haven't been scheduled for sale.
While sales of foreclosures remain low, refinance activity has been encouraged by historically low mortgage rates.
Refinance with San Jose Loans
Mortgage rates are at record lows. Really, rates haven't been this low since gas was around 23 cents a gallon! We can't be sure when rates will shoot back up, so there's no denying that the time to get started on that home refinance you've been wondering about is right now.
Many people are extremely cautious with any large financial decisions because of the faltering economy (rightly so), but I think everyone should at least consider refinancing before rates go back up. As good friend and mortgage expert Jeff Perry Quicken Loans says, "Rates may never be this low again!"
Work with a San Jose Loans Expert
This is a tremendous opportunity to evaluate your financial situation and see if refinancing with San Jose home loans is the right choice (it probably is). Refinancing will save you cash by lowering your monthly mortgage payment. Depending on your financial situation, you could save thousands in interest by locking-in a lower rate.
As a Quicken Loans home loan expert licensed in San Jose, I have helped many clients buy a new home or refinance into a lower monthly mortgage payment with a home mortgage. Whether you want to refinance or buy a home, if you're ready to move forward get in touch with me at Quicken Loans today!
Mortgage rates are at historic lows. Really, rates haven't been this low since the very first McDonalds restaurant opened in 1955!
The average rate for a 30-year fixed loan was 4.32 percent this week, down from 4.36 percent last week, mortgage buyer Freddie Mac said Thursday. That's the lowest since Freddie Mac began tracking rates in 1971. In fact, San Jose mortgage rates are so low they could be confused with John Cusack's career!
The low rates have fueled a wave of refinancing by borrowers. According to San Jose Mercury News, refinancing is at its highest level since May 2009 and makes up almost 83 percent of all new loans, its highest share since January 2009.
Refinance with a San Jose Mortgage
No one is sure how long low mortgage rates are going to last, but there's no denying that the time to get started on that home refinance you've been wondering about is right now.
While many are extremely cautious with any large financial decisions because of the faltering economy, I think everyone should at least consider refinancing before rates go back up. As good friend and President of Quicken Loans Jay Farner says, "Rates may never be this low again!"
Work with a San Jose Mortgage Professional
Evaluate your financial situation and see if refinancing or purchasing with a San Jose Mortgage is the right choice (it probably is). Refinancing will save you cash by lowering your monthly mortgage payment. Depending on your financial situation, you could save thousands in interest by locking-in a lower rate.
As a Quicken Loans home loan expert licensed in San Jose, I have helped many clients buy a new home or refinance into a lower monthly mortgage payment with a San Jose mortgage. Whether you're looking for FHA Loans, VA Loans, fixed-rate, or adjustable rate mortgages, if you're ready to move forward get in touch with me at Quicken Loans today!
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