Mike’s Real Estate Show

Rates as of 2/16/07

Conforming  fully amortized  interest only
30 year fixed  6.25%    6.5%
3/1 ARM  6.25%    6.5%
5/1 ARM  6.25%    6.375%
7/1 ARM  6.125%   6.375%
10/1 ARM  6.25%    6.625%

   fully amortized  interest only
JUMBO – up to $650,000; add .25 point for loans up to $1mil
30 year fixed  6.375%   6.5%
3/1 ARM  6.5%    6.6255%
5/1 ARM  6.5%    6.625%
7/1 ARM  6.625%   6.75%
10/1 ARM  6.625%   6.75%

100% financing 1st    2nd
   6.625% (30 year fixed)  10.375% (HELOC)
(Based on conforming limits for the 1st – up to 80% LTV; up to 100% CLTV for 2nd

Blend 100%  7. 75% (NO Mortgage Insurance)
30 year fixed 660-679 FICO score – better FICO, better Rate

Here’s the fine print:
Conforming limit is $417,000.00.  Rates assume impound account set up and except for 100% financing, assumes loan to value (LTV) no more than 80%.  Funds to be used for purchase.  Cash out refinances may incur higher rates.  Rats quoted with a 30 day lock.  Subject to qualifying borrowers and properties.  Rates quoted for fully documented loans.  Rates are as of 2/2/07 and are subject to change.  Rates are quoted WITHOUT points.  Borrowers may buy down the rate.  Each application is evaluated on an individual basis.  There may be better suited programs for borrowers the may offer better rates/terms as well as options for non-qualifying borrowers. 

Alicia Hodenfield
Investors Trust Mortgage
(707) 284-2718 direct line
alicia@investorstrust.com
www.aliciahodenfield.com

Listeners,

 Here is Alicia Hodenfield’s of Investor’s Trust Mortgage, interest rate update as per the close of business Friday. She’ll be a guest on the show Sunday, February 11th, at around 9:15am for a segment talking rates and trends. Listen in!! 

How would you like to offer NO MORTGAGE PAYMENTS for Up to 6 Months?  Ask me about my Buyer’s Bonus Mortgage Program!  I also have a great program for buyers of property in low to moderate income identified census tracts.

 Rates as of 2/9/07

Something that affected the Bond market this week is the monthly coupon rollover yesterday, which caused a slight slip in the price of bonds.  We’ll be watching today to see if the trend continues or if Bonds can make a bit of a run. Next week there are a few reports to be released that could have a high impact on the Bond Market including Retail Sales and the Philadelphia Fed Index.  I’ll be keeping my eyes and ears open!

 Rates are quoted WITHOUT points.  Borrowers may buy down the rate.  Each application is evaluated on an individual basis.  There may be better suited programs for borrowers that may offer better rates/terms as well as options for non-qualifying borrowers. 

Conforming                 fully amortized                        interest only

30 year fixed               6.25%                                     6.5%

3/1 ARM                     6.375%                                    6.5%

5/1 ARM                     6.25%                                     6.5%

7/1 ARM                     6.25%                                     6.5%

10/1 ARM                    6.25%                                     6.5%
 
                          fully amortized                        interest only

JUMBO – up to $650,000; add .25 point for loans up to $1mil

30 year fixed               6.375%                                    6.5%

3/1 ARM                     6.375%                                    6.5%

5/1 ARM                     6.5%                                      6.625%

7/1 ARM                     6.5%                                      6.625%

10/1 ARM                    6.75%                                     6.875%

 

100% financing           1st                                            2nd

                                    6.5% (30 year fixed)               10.375% (HELOC)

(Based on conforming limits for the 1st – up to 80% LTV; up to 100% CLTV for 2nd

 

Blend 100%                7.875% (NO Mortgage Insurance)

30 year fixed  

 

Here’s the fine print:

Conforming limit is $417,000.00.  Rates assume impound account set up and except for 100% financing, assumes loan to value (LTV) no more than 80%.  Funds to be used for purchase.  Cash out refinances may incur higher rates.  Rats quoted with a 30 day lock.  Subject to qualifying borrowers and properties.  Rates quoted for fully documented loans.  Rates are as of 2/9/07 and are subject to change. 

 

 

 

 

Alicia Hodenfield

Investors Trust Mortgage

Direct line (707) 284-2718

Cell (707) 483-6299

Fax (707) 573-8109

1105 N. Dutton Avenue Suite 200 Santa Rosa, CA  95401

www.aliciahodenfield.com

Licensed by California DRE #01104067/Salesperson License #01501465

 

“When you are content to be simply yourself and don’t compare or compete, everybody will respect you.” — Lao Tzu

Oh by the way, if you know of someone thinking of purchasing or refinancing a home, who would appreciate the kind of service I offer, I’d love to help them.  As these people come to mind, just give me a call with their name and number.  I will be happy to follow up and tend to their real estate financing needs

Below find the latest numbers from  our Multiple Listing Service or MLS system. This is for the month of January for the solds. All other data is current “actives” or those in escrow, those now not on the market either by “expiring” (listing time has run out) or “withdrawn”, Seller’s said enough, take it off the market. Looking below you’ll see “price rannges” the the immediate numbers after the price are those that “sold” in the price point and the DOM or Days On the Market for the properties. The medium LAST YEAR was $582,000 and number of sales 318. End of January of this year shows the medium dropping considerably–a whopping 12%! While sales have improved being off “only” 10%! Sales are up but those selling are making deals!  

Property Type  Residential    Property Subtypes  Condo/Coop, Single Family   Transaction Type  Sale   Areas  Windsor, Northwest Santa Rosa, Russian River, Cotati/Rohnert Park, Calistoga 2, Sea Ranch, Cloverdale, Northeast Santa Rosa, Southwest Santa Rosa, Timber Cove, Coastal Sonoma, Penngrove, Sebastopol, Annapolis, Southeast Santa Rosa, Petaluma East, Healdsburg, Petaluma West, Oakmont, Sonoma County  Sonoma Status  Sold (1/1/2007 to 1/31/2007) Price  25,000 to 10,000,000   

     Solds

     $120,000 thru $139,999   1  84  
     $200,000 thru $249,999   7  155  
     $250,000 thru $299,999   6  138  
     $300,000 thru $349,999   18  137  
     $350,000 thru $399,999   21  144  
     $400,000 thru $449,999   20  77  
     $450,000 thru $499,999   48  110  
     $500,000 thru $549,999   42 137  
     $550,000 thru $599,999  21  103  
     $600,000 thru $649,999   21  158  
     $650,000 thru $699,999   10  99  
     $700,000 thru $749,999   6  111  
     $750,000 thru $799,999   12 111  
     $800,000 thru $849,999   7  166  
     $850,000 thru $899,999   8  158  
     $900,000 thru $949,999   4  144  
     $950,000 thru $999,999   9  194  
     $1,000,000 thru $1,249,999  13 116  
     $1,250,000 thru $1,499,999  5  155  
     $1,500,000 thru $1,749,999  3  65  
     $1,750,000 thru $1,999,999  1  142  
     $2,000,000 thru $2,249,999  1  239  
     ====================================================
       284  127   Average
  
Summary Price Information
Minimum  $135,000 Maximum  $2,150,000
Average  $601,242 Median  $520,000
 

Friends, Here’s a reponse I made to a recent inquiry from a listener who is facing a possible ”Short” sale of his home. This means having way to much loan left at the end of the escrow! My thoughts below are based on the following example: Sales price $595,000, Loan amounts: $580,000 1st, $110,000 2nd–total loans: $690,000! That’s called being “upside-down” in our industry. I didn’t throw in the “pre-payment” penalty. Here are my thoughts which apply to any short sale. I’ve left out specifics for privacy issues: Read the rest of this entry »

These are provided by show friend Alicia Hodenfield of Investor’s Trust Mortgage.

The fed kept the overnight funds rate at 5.25%, which was expected, but a collective sigh of relief was felt in the markets.  Other news also has had some impact on rates including Jobs Report which came in lower than expected.  Though the past few months have had revisions higher, which may happen with this months.

Long term outlook for Bond prices is good, which is good for Mortgage rates.  In the immediate future, we will keep an eye on Bonds as there seems to be some volatility.  I’ll keep you posted!

Conforming                  fully amortized              interest only

30 year fixed                6.25%                                      6.5%

3/1 ARM                     6.375%                                    6.625%

5/1 ARM                     6.25%                                      6.5%

7/1 ARM                     6.25%                                      6.5%

10/1 ARM                   6.25%                                      6.625%

                                    fully amortized              interest only

JUMBO – up to $650,000; add .25 point for loans up to $1mil

30 year fixed                6.5%                                        6.625%

3/1 ARM                     6.5%                                        6.625%

5/1 ARM                     6.5%                                        6.625%

7/1 ARM                     6.625%                                    6.75%

10/1 ARM                   6.75%                                      6.875%

100% financing 1^st                                            2^nd

                                    6.625% (30 year fixed) 10.375% (HELOC)

(Based on conforming limits for the 1^st – up to 80% LTV; up to 100% CLTV for 2^nd

Blend 100%                 7.875% (NO Mortgage Insurance)

Here’s the fine print:

Conforming limit is $417,000.00.  Rates assume impound account set up and except for 100% financing, assumes loan to value (LTV) no more than 80%.  Funds to be used for purchase.  Cash out refinances may incur higher rates.  Rats quoted with a 30 day lock.  Subject to qualifying borrowers and properties.  Rates quoted for fully documented loans.  Rates are as of 2/2/07 and are subject to change.  Rates are quoted WITHOUT points.  Borrowers may buy down the rate.  Each application is evaluated on an individual basis.  There may be better suited programs for borrowers the may offer better rates/terms as well as options for non-qualifying borrowers. 

Alicia Hodenfield

Investors Trust Mortgage

(707) 284-2718 direct line

alicia@investorstrust.com

www.aliciahodenfield.com