U.S. Mortgage rates nudge closer to a record low
U.S. mortgage rates fell in the latest week supporting government efforts to bring them down to levels that will spur demand and help the hard-hit housing market begin to recover. Interest rates on U.S. 30-year fixed-rate mortgages fell to 5.03 percent for the week ending March 12 from the previous week's 5.15 percent, according to a survey released on Thursday by home funding company Freddie Mac. Eight weeks earlier, mortgage rates were 4.96 percent, the lowest since Freddie Mac started the Primary Mortgage Market Survey in 1971. "Mortgage rates had room to ease this week following news of a weaker jobs market, which may slow consumer spending and keep inflation at bay," Freddie Mac Vice President and Chief Economist Frank Nothaft said in a statement. The battered U.S. housing market, which is in the midst of its worst downturn since the Great Depression, is both the source and a major casualty of the credit crisis. A recovery for the market could portend a turnaround for the United States, the world's largest economy. The recent fall in mortgage rates can be tied to yields on U.S. Treasury bonds, to which mortgage rates have a link. Thirty-year mortgage rates had mostly been on a downward trend since the Federal Reserve unveiled a plan in late November to buy as much as $500 billion of mortgage securities backed by Fannie Mae, Freddie Mac and Ginnie Mae. The program also entails buying up to $100 billion of debt issued by Fannie Mae, Freddie Mac and the Federal Home Loan Banks. Low mortgage rates in recent weeks have spurred a surge in demand for home refinancing loans, and refinancing to lower monthly payments should provide a bit of relief to strapped consumers amid rising unemployment and a shrinking economy. Low mortgage rates, however, have had only a marginal impact on demand for loans to purchase homes, igniting calls to bring rates down to much lower levels. OTHER RATES FALL The 15-year, fixed-rate mortgage averaged 4.64 percent in the latest week, down from 4.72 the prior week. One-year adjustable-rate mortgages, or ARMs, fell to an average of 4.80 percent from 4.86 percent last week. Freddie Mac said the "5/1" ARM, set at a fixed rate for five years and adjustable each following year, averaged 4.99 percent, compared with 5.08 percent a week earlier. A year ago, 30-year mortgage rates averaged 6.13 percent, 15-year mortgages were at 5.60 percent and the one-year ARM was at 5.14 percent. A year ago, the 5/1 ARM averaged 5.58 percent. Lenders charged an average of 0.7 percent in fees and points on 30-year mortgages, unchanged from the previous week, while they charged an average 0.7 percent in fees and points on 15-year mortgages, unchanged from the previous week. The 5/1 ARM fees and points were 0.6 percent, unchanged from the previous week. The one-year ARM fees and points were 0.5 percent, unchanged the previous week. Freddie Mac and its larger sibling, Fannie Mae, were placed under government conservatorship in early September. Freddie Mac is a mortgage finance company chartered by Congress that buys mortgages from lenders and packages them into securities to sell to investors or to hold in its own portfolio.
By Julie Haviv
Please contact us for any further questions Nancy & Heather Cloward
Prudential Clalifornia Realty
Direct: 949-495-2819 or 949-228-4523
Nancy@NancyCloward.com or Heather@HeatherCloward.com
We hope you will find the following snapshot of local Real Estate inventory interesting. The table represents aggregated values based on MLS data for the specified date.
Housing Inventory Snapshot
Febuary 25, 09
Average List Price
Median List Price
Average Days On Market
Los Angeles County, CA
Single Family under $600K
$312,409
$299,900
117
Single Family over $600K
$1,333,524
$949,000
125
Condo/Townhome under $400K
$230,647
$220,000
121
Condo/Townhome over $400K
$611,200
$510,000
123
Orange County, CA
Single Family under $1M
$544,327
$525,000
111
Single Family over $1M
$2,923,818
$1,848,000
138
Condo/Townhome under $600K
$297,371
$280,000
108
Condo/Townhome over $600K
$1,156,269
$925,000
122
Riverside County, CA
Single Family under $700K
$225,387
$199,000
127
Single Family over $700K
$1,327,744
$889,000
179
Condo/Townhome under $500K
$161,265
$135,000
120
Condo/Townhome over $500K
N/A
N/A
N/A
San Bernardino County, CA
Single Family under $700K
$232,139
$195,000
122
Single Family over $700K
$1,526,117
$1,099,000
162
Condo/Townhome under $450K
$172,317
$165,000
103
Condo/Townhome over $450K
N/A
N/A
N/A
MORTGAGE. National Averages (Febuary 25, 09)*
30-year fixed
Rate - 5.23%
APR - n/a%
15-year fixed
Rate - 4.94%
APR - n/a%
5/1 ARM
Rate - 4.36%
APR - n/a%
* Mortgage rates were collected from publicly available sources (yahoo.com) on the date stated. The accuracy of the information and the availability of these rates are not guaranteed by the publisher. Rates are provided for informational purposes only and are subject to change without notice. Actual market interest rates may vary.
If you know someone who is considering buying or selling a home, please give us a call. We will provide professional & courteous service along with knowledgeable guidance through the process.
Please contact us for any further questions
Nancy & Heather Cloward
Prudential Clalifornia Realty
Direct: 949-495-2819 or 949-228-4523
Nancy@NancyCloward.com or Heather@HeatherCloward.com
February seems to be a very active month for our office. Here are the numbers so far:
Prudential California Realty
Monarch Beach Office (Feb. 09) 28 sales volume of $31,000,000 + Avg. s/p $1.1 Mil
REO 26 sales volume of $7,187,022 Avg. s/p $276,000
FYI:
Realogy the parent company that owns CB, ERA, C-21, and Sotheby’s posted a 1.9 billion dollar loss in 2008. (LA Times 2/26/09)
Please contact us for any further questions Nancy & Heather Cloward
Prudential Clalifornia Realty
Direct: 949-495-2819 or 949-228-4523
Nancy@NancyCloward.com or Heather@HeatherCloward.com
Laguna Niguel, CA Local Events
Wednesday, February 25th
Beginning Computer Class
when:Feb 25, 2009 at 8:30am
where:Laguna Niguel, CA
from:Orange County Public Library - Laguna Niguel
category:Schools and Libraries
Toddler Story Time
when:Feb 25, 2009 at 10:00am
where:Laguna Niguel, CA
from:Orange County Public Library - Laguna Niguel
category:Schools and Libraries
Preschool Story Time
when:Feb 25, 2009 at 11:00am
where:Laguna Niguel, CA
from:Orange County Public Library - Laguna Niguel
category:Schools and Libraries
Traffic And Transportation Commission Meeting
when:Feb 25, 2009 at 7:00pm
where:Laguna Niguel, CA
from:City of Laguna Niguel
category:Government and Politics
Wednesday Bible Study
when:Feb 25, 2009 at 7:00pm
where:Laguna Niguel, CA
from:Laguna Niguel Presbyterian Church
category:Religion and Spirituality
Saturday, February 28th
Read To Me Story Time
when:Feb 28, 2009 at 2:00pm
where:Laguna Niguel, CA
from:Orange County Public Library - Laguna Niguel
category:Schools and Libraries
Sunday, March 1st
Sunday Traditional Worship Service
when:Mar 1, 2009 at 8:30am
where:Laguna Niguel, CA
from:Mission Lutheran Church
category:Religion and Spirituality
Sunday Contemporary Worship Service
when:Mar 1, 2009 at 8:50am
where:Laguna Niguel, CA
from:Laguna Niguel Presbyterian Church
category:Religion and Spirituality
Sunday School
when:Mar 1, 2009 at 9:00am
where:Laguna Niguel, CA
from:Laguna Niguel Presbyterian Church
category:Religion and Spirituality
Sunday Open Prayer Service
when:Mar 1, 2009 at 9:15am
where:Laguna Niguel, CA
from:Grace Church of Laguna Niguel
category:Religion and Spirituality
Sunday Worship Service
when:Mar 1, 2009 at 9:30am
where:Laguna Niguel, CA
from:Aliso Creek Presbyterian Church
category:Religion and Spirituality
Sunday Contemporary Worship Service
when:Mar 1, 2009 at 10:00am
where:Laguna Niguel, CA
from:Mission Lutheran Church
category:Religion and Spirituality
Sunday Worship Service
when:Mar 1, 2009 at 10:00am
where:Laguna Niguel, CA
from:Grace Church of Laguna Niguel
category:Religion and Spirituality
Sunday Traditional Worship Service
when:Mar 1, 2009 at 10:30am
where:Laguna Niguel, CA
from:Laguna Niguel Presbyterian Church
category:Religion and Spirituality
Sunday School
when:Mar 1, 2009 at 11:00am
where:Laguna Niguel, CA
from:Aliso Creek Presbyterian Church
category:Religion and Spirituality
Tuesday, March 3rd
Rotary Club Of Laguna Niguel Meeting
when:Mar 3, 2009 at 12:00pm
where:Laguna Niguel, CA
from:Rotary Club of Laguna Niguel
category:Clubs and Organizations
City Council Meeting
when:Mar 3, 2009 at 7:00pm
where:Laguna Niguel, CA
from:City of Laguna Niguel
category:Government and Politics
Wednesday, March 4th
Beginning Computer Class
when:Mar 4, 2009 at 8:30am
where:Laguna Niguel, CA
from:Orange County Public Library - Laguna Niguel
category:Schools and Libraries
Toddler Story Time
when:Mar 4, 2009 at 10:00am
where:Laguna Niguel, CA
from:Orange County Public Library - Laguna Niguel
category:Schools and Libraries
Preschool Story Time
when:Mar 4, 2009 at 11:00am
where:Laguna Niguel, CA
from:Orange County Public Library - Laguna Niguel
category:Schools and Libraries
Please contact us for any further questions
Nancy & Heather Cloward
Prudential Clalifornia Realty
Direct: 949-495-2819 or 949-228-4523
Nancy@NancyCloward.com or Heather@HeatherCloward.com
The Negativity Police
Is your inner voice a trash-talker? If you've tried and failed to reach your fitness goals in the past, negative thoughts might have been what held you back. Want to succeed this time? Get your journal (or log on to your online Fitness Diary). It's time to get some of those thoughts out of your head and onto paper. Ask yourself the following questions:
1. Do you have a negative self-image?
Do you constantly say things like "I'm fat" or "I'm ugly"? Do you pick yourself apart and beat yourself up when you look in the mirror?
2. Do you lack self-confidence?
Do you doubt your ability to achieve your goals, weight-related or otherwise? Do you dwell on your perceived limits or fears? Do you doubt your ability to accomplish the things you want to accomplish?
3. Do you feel powerless?
Do you feel as if you have no control over your life, or do you rely on excuses like "I'm genetically predisposed to being overweight"?
4. Do you label yourself in self-deprecating ways?
Do you think and talk about your failure to lose weight as a foregone conclusion? Do you refer to yourself mockingly (or not!) as a stereotype - the happy/funny fat person in the room? Is your e-mail address "fatso@blank.com"?
Now think about your responses. How would you describe the tone of your answers? Are they affirming and constructive, or downbeat and destructive? Want to turn your thinking around? The following question will help you understand why you have been propagating these destructive thoughts and behaviors so that we can cut them out at the root.
5. How is this negativity hurting you?
Is what you say about yourself really the truth? Or is it a defense mechanism? And if so, against what? Are you just making complicated excuses? How does this kind of negativity help you achieve your goals? The answers to these questions should help you start to see what's at the root of your negative thinking.
Now go back and answer the five questions again, and force yourself to use only positive terms. It can be hard to let go of these negative thought patterns. Often, they're the result of years of self-loathing and your internalizing of the negative opinions and judgments of others, but you can do it. Remember, knowledge is power. Next time one of those negative thoughts crops up, you'll have the awareness to cut it down.
Information Provided by Jillian Micheals
Please contact us for any further questions
Nancy & Heather Cloward
Prudential Clalifornia Realty
Direct: 949-495-2819 or 949-228-4523
Nancy@NancyCloward.com or Heather@HeatherCloward.com
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Nancy & Heather Cloward
Prudential Clalifornia Realty
Direct: 949-495-2819 or 949-228-4523
Nancy@NancyCloward.com or Heather@HeatherCloward.com
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