What the Lowest Mortgage Rates of All Time Mean for San Francisco Buyers & Homeowners

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Mortgage rates have fallen to historic lows, thanks to uncertainties surrounding the economic impact of the coronovirus. The average 30-year fixed-rate mortgage hit a record 3.29% this week, which is the lowest ever in its nearly 50-year history. Here’s what that means for homebuyers and homeowners in San Francisco and across the country. By the Numbers If you bought a million dollar house in the city late last year, locking in your interest rate on December 5, 2019, you likely

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San Francisco Real Estate and the Holidays

Are you thinking of buying or selling your home? Perhaps you’re expanding and considering your current home as an investment property and entering it in the rental market? The 4th quarter is historically filled with low-inventory and quiet real estate offices. The holidays are a wonderful time to begin exploring your options. To begin, set your financial house in order. File tax returns early to ease the process and align with a trusted mortgage lender. Connect with your financial planner

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Lenders resist the work of a pre-approval… what’s the difference?

From a November 12th NYT article FOR some people, an important first step in buying a house is getting a mortgage preapproval. That’s so true, my sellers and I want to see your preapproval letter with your offer. But prevetting has become more difficult and confusing these days, for borrowers as well as lenders, as a result of lending rules that took effect in January. The rules from the Department of Housing and Urban Development require lenders to issue a

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Pay Down or Pay off Your Mortgage? There’s a lot to consider…

From Friday’s New York Times came a great article about want you might want to consideration when thinking about paying down or paying off your mortgage.  It came at a great time as I had just been having dinner with friends discussing this very topic. PAYING off a mortgage or even paying down the balance early might seem enticing to most borrowers. There’s the big savings in interest payments and the freed-up cash flow that can result, not to mention

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Bank Offers Home Loans Below 4%

A small bank in the Pacific Northwest is hoping to boost sales for builders who owe the bank millions by offering mortgages to new homebuyers at less than 4 percent interest. Banner Bank began offering the low rates through a subsidiary on March 7 in Portland, Ore., and surrounding markets, and plans to expand the program next month to Seattle and Spokane, Wash., and Boise, Idaho. In announcing the “Great Northwest Home Rush” program, Banner subsidiary Community Financial Corp. said

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