http://www.californiamortgagerate.com/californiacurrent Up to Date Rate Info and More | California Current Thu, 25 Dec 2008 07:13:29 +0000 http://backend.userland.com/rss092 en  As mortgage rates continue to fall in California, mortgage application activity has soared through the roof. According to the Mortgage Bankers Association, the number of applications shot up 48 percent. Refinance applications saw an increase of 62.6 percent, while purchase applications rose 17.7%.  But, as 30 year fixed mortgages near ... http://www.californiamortgagerate.com/californiacurrent/three-ways-to-protect-your-credit-when-mortgage-shopping/  As mortgage rates reach all time lows here in California, many homeowners are considering a refinance of their existing home loans. While dropping mortgage rates may be music to the ears, there are a few things to consider before refinancing. 1. How Long To Recoup The Costs of Refinancing Closing costs and ... http://www.californiamortgagerate.com/californiacurrent/three-things-to-consider-before-refinancing/  Mortgage Interest Rates Drop To Record Levels Interest rates on 30 year fixed home loans finally sunk below the five percent barrier; with some lenders offering rates as competitive near 4.5 percent. Even at such levels, analysts and brokers still expect slight improvements in the near future. As the Fed aims ... http://www.californiamortgagerate.com/californiacurrent/california-mortgage-rate-weekly-news-roundup/ For a while it seemed like the Federal Funds target rate had no where to go but up. Well, after today's move to slash the target rate to a historically low zero to .25 percent, we've really hit a bottom. (And no, as crazy as things may seem, the Fed ... http://www.californiamortgagerate.com/californiacurrent/how-did-the-historical-fed-rate-cut-affect-your-mortgage-in-california/  For the sixth week in a row, mortgage rates on 30 year fixed loans improved as interest rates continued to fall below the 5.5% marker. About two months ago in October, homeowners were looking at about 6.5% for a similar 30 year fixed mortgage. Many are wondering if lower mortgage ... http://www.californiamortgagerate.com/californiacurrent/mortgage-rates-continue-to-drop-individuals-still-on-the-sidelines/ So far, many of the mortgage problems that we've been facing have been related to weak lending and toxic mortgages. Unfortunately, one of the issues emerging as the new catalyst for housing troubles is the rising unemployment rates. Last week, the U.S. Labor Department released its monthly report showing "the worst ... http://www.californiamortgagerate.com/californiacurrent/mortgage-tip-keep-an-eye-on-unemployment-trends-around-your-home/  National Index of Pending Home Sales Numbers Decline This Tuesday, the National Association of Realtors released their report of pending home sales statistics for October. According to the index, the numbers posted a .7% decline compared to September's results, and a 1% decline compared to last year's October. Even with the slight ... http://www.californiamortgagerate.com/californiacurrent/pending-home-sales-decline-analysts-interpret-data-as-semi-stable/  Lower 30 Year Fixed Rates If the Treasury Department follows through on expectations to buy additional mortgage backed securities from Fannie and Freddie, analysts are expecting mortgage rates to drop a full percentage point. This would mean that the interest rate for a 30 year fixed mortgage could near the 4.5 ... http://www.californiamortgagerate.com/californiacurrent/could-lower-mortgage-rates-be-in-the-future-for-california%e2%80%99s-homeowners/ Mortgage Fraud Increases as Lending Standards Tighten According to the latest report from the Mortgage Asset Research Institute, California trailed right behind Florida when it came to mortgage fraud. As mortgage lenders tighten up qualifications, many individuals have resorted to fraudulent acts and other methods to get by. Compared to last ... http://www.californiamortgagerate.com/californiacurrent/latest-california-mortgage-statistics-fraud-and-delinquencies-increase-as-home-prices-decrease/ In a recent article by the LATimes and a study by the Mortgage Bankers Association, the latest findings show that foreclosures and mortgage delinquencies have been "skyrocketing among prime borrowers". It's a daunting reality, but the current economy has shown no mercy to any homeowners, subprime and prime borrowers alike. In ... http://www.californiamortgagerate.com/californiacurrent/say-it-ain%e2%80%99t-so-are-prime-borrowers-not-immune-to-the-housing-crisis/