Brandon OC Home Smart

Brandon OC Home Smart We provide real estate solution to all my clients. Our mission is to creating a higher quality life for my clients; buyers, sellers and investors and to educated clients with all resources and tools for their real estates needs.
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08/05/2020

Wednesday, 5 Aug 2020 10:14 AM EDT

Mortgage rates set another record low, but borrowers take a step back
The average contract interest rate for 30-year fixed-rate mortgages decreased to 3.14% from 3.20% last week.
Mortgage applications to purchase a home also fell for the week, down 2%, but were 22% higher than one year ago.
Record low mortgage rates are clearly not as impressive as they used to be.
Even with another new low set last week, mortgage application volume decreased 5.1% from the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Demand is still considerably higher for refinances and purchase applications than it was a year ago.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances of up to $510,400 decreased to 3.14% from 3.20%. Points, including origination fee, increased to 0.39 from 0.37 for loans with a 20% down payment. The rate was 87 basis points higher than a year ago.
Applications to refinance a home loan, which are most sensitive to weekly rate moves, fell 7% for the week but were 84% higher annually. Generally, if a borrower can shave 75 basis points off their current rate, it makes financial sense to refinance. So many borrowers have already refinanced that there may not be significant interest for doing so. Still, at today's low rates, close to 18 million borrowers with good credit scores could benefit from a refinance, according to calculations by Black Knight, a mortgage data and analytics firm.
"MBA's forecast calls for rates to remain at these low levels, which will continue to spur strong refinance activity and offer homeowners relief in the form of lower monthly mortgage payments during these uncertain economic times," said the association's forecaster Joel Kan.
Mortgage applications to purchase a home also fell for the week, down 2%, but were 22% higher than a year ago. Buyer demand was strong heading in to the spring market and appears to have gained strength from the Covid pandemic, as consumers stuck in smaller homes or urban apartments sought more space in the suburbs. The biggest problem is a lack of supply and rising home prices. That is keeping some potential buyers on the sideline.
"Purchase loan balances continued to climb, which is perhaps a sign that the still-weak job market and tighter credit for government loans are constraining some first-time homebuyers," Kan said.
Mortgage rates continued to fall at the start of this week and could head even lower depending on the results of the all-important monthly employment report, schedule to be released Friday. While rates are low, mortgage credit availability is still tough, and the best rates only go to the top-tier borrowers. Lenders are being more strict with low down-payment loans, like FHA mortgages, which are popular with first-time buyers because of their 3.5% down payment. The rate on FHA loans is usually lower than conforming, but last week it was unchanged at 3.27%.

Let us help you with your dream home needs.
07/22/2020

Let us help you with your dream home needs.

Our nation owes  to our falling  heroes The debts that we can never repay. Our service will be close on Monday for honor...
05/23/2020

Our nation owes to our falling heroes The debts that we can never repay.
Our service will be close on Monday for honoring our falling heroes.

Brandon OC Home Smart's cover photo
05/12/2020

Brandon OC Home Smart's cover photo

Our new office is ready !Finally, the moment is here! Today, the new office is done with remodeling. It’s nice to be bac...
03/04/2020

Our new office is ready !Finally, the moment is here! Today, the new office is done with remodeling. It’s nice to be back in the office again. We love serving our community.

Presented By: Broker Services
New Address: 2130 Main Street, Suite 170 Huntington Beach, CA 92648

09/20/2019

September 19,2019
For those who are considering refinancing, falling rates could mean it is a good time to do so.
Ahead of the September Fed meeting, mortgage rates reached a three-year low. The average rate on a 30-year fixed mortgage rate is 3.56%, according to Freddie Mac. The yield on the 10-year Treasury note—currently around 1.75%—is used as a benchmark for different types of loans, including mortgages.

New book :whether you’re working with an agent or going the for-sale-by-owner path,here are some pointers on how to get ...
08/22/2018

New book :
whether you’re working with an agent or going the for-sale-by-owner path,
here are some pointers on how to get your home ready for buyers.
1)Complete necessary home improvements
2)Declutter the space: Consider half-emptying closets, pantries, and other storage spaces to give the impression that the home has ample storage.
3)Depersonalize: Remove family photos and keepsakes. Also, take care to remove any evidence of your pets.
4)Stage your home: After you’ve decluttered and depersonalized, it’s easier to stage your home. Moving furniture around to make rooms feel more spacious or hiring a full-on professional stager, to help your home’s interior shine can make a big difference.
5)Improve curb appeal: Mow the lawn, pull weeds, clean walkways, and generally spruce up your home’s exterior — it’s where you’ll make your first impression.
6)Hire a professional photographer:
7)Price your home to motivate buyers:

Your new home just closed. How do you read preliminary report .http://www.firstam.com/title/resources/reference-informat...
03/23/2017
How to Read a Preliminary Report - First American Title Insurance - Resource Center - Reference Information - Video Resources

Your new home just closed. How do you read preliminary report .http://www.firstam.com/title/resources/reference-information/video/how-to-read-a-preliminary-report.html

How to Read a Preliminary Report - Once you've opened escrow on a property, you will receive a preliminary report. This is an offer to issue a title insurance policy and it will describe the terms under which a policy will be issued. The preliminary report will include items such as the owner's name...

How renters should prepare for homeownership.OC Housing News - Jan 12, 2017This monthly cost of ownership relates to ren...
01/19/2017
How renters should prepare for homeownership. | OC Housing News

How renters should prepare for homeownership.

OC Housing News - Jan 12, 2017

This monthly cost of ownership relates to rental parity, the foundation of housing market values. If you use that guideline, a renter making $100,000 a year should be paying about $1,900 in rent and saving about $700 per month toward a down payment.
http://ochousingnews.com/renters-prepare-homeownership/

Rent a property using 23% or less of your gross income and save 8%. This prepares you for a 31% debt-to-income payment and provides a quality of rental you could later buy. I never embraced the innovations in real estate finance that inflated the housing bubble. I never considered any financing othe...

Are looking to auction time share? Here is your opportunity! http://firstdistrictnews.com/2017/01/11/january-13-deadline...
01/11/2017
January 13: Deadline extended for timeshare tax auction - OC Supervisor Andrew Do, First District

Are looking to auction time share? Here is your opportunity!
http://firstdistrictnews.com/2017/01/11/january-13-deadline-extended-timeshare-tax-auction/

UPDATE: Due to the high demand for registration requests, the deposit deadline has been extended to January 13 at 5:00 p.m. (PST), however, bidder deposits will only be accepted by wire transfer to our third-party vendor, Grant Street Group. In...

Openings for first-time Garden Grove homebuyer workshopOrange County Breeze - 1d agoOpenings are available for the first...
11/27/2016
Openings for first-time Garden Grove homebuyer workshop | Orange County Breeze

Openings for first-time Garden Grove homebuyer workshop

Orange County Breeze - 1d ago

Openings are available for the first-time Garden Grove homebuyer workshop. The workshop will take place on Saturday, December 3, 2016 from 8:00 a.m.
https://goo.gl/6J7818

Openings are available for the first-time Garden Grove homebuyer workshop. The workshop will take place on Saturday, December 3, 2016 from 8 a.m. to 4 p.m.

Are you looking to sell or simply just want to know a value of your property. You always count on us.
08/11/2016
www.ochomelists.com

Are you looking to sell or simply just want to know a value of your property. You always count on us.

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Garden Grove homebuyer workshop Saturday, July 30Orange County Breeze - 1d agoOpenings are available for the first-time ...
07/29/2016
Garden Grove homebuyer workshop Saturday, July 30 | Orange County Breeze

Garden Grove homebuyer workshop Saturday, July 30
Orange County Breeze - 1d ago
Openings are available for the first-time Garden Grove homebuyer workshop. The workshop will take place on Saturday, July 30, 2016 from 8:00 a.m.
http://goo.gl/M2NHcY

Openings are available for the first-time Garden Grove homebuyer workshop. The workshop will take place on Saturday, July 30, 2016 from 8 a.m. to 4 p.m.

Mortgage rates for Wednesday, July 20 Bankrate.com - 15h agoMortgage rates are mixed today. The average rate on 30-year...
07/21/2016
Mortgage rates for Wednesday, July 20 - Bankrate.com

Mortgage rates for Wednesday, July 20
 Bankrate.com - 15h ago
Mortgage rates are mixed today. The average rate on 30-year fixed mortgages dipped, the average rate on 15-year mortgages rose and the average rate on 5/1 ARMs rose.
http://goo.gl/xLrjsv

If you're purchasing or refinancing, it's a great time to lock in a rate.

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2130 Main Street, Suite 170
Huntington Beach, CA
91765

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