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Friday, May 1, 2020   /   by Steve Mohseni

Mortgage Rates Reach All-Time Low

MCLEAN, Va., April 30, 2020 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.23 percent, the lowest rate in our survey’s history which dates back to 1971.


“The size and depth of the secondary mortgage market is helping to keep rates at record lows. These low rates are driving higher refinance activity and have modestly helped improve purchase demand from their extremely low levels in mid-April,” said Sam Khater, Freddie Mac’s Chief Economist. “While many people are benefitting from low mortgage rates, it’s important to remember that not all people are able to take advantage of them given the current pandemic.”


News Facts





30-year fixed-rate mortgage averaged 3.23 percent with an average 0.7 point for the week ending April 30, 2020, down from last we ...

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Friday, February 21, 2020   /   by Steve Mohseni

Interest Rates Over Time

Interest Rates Over Time [INFOGRAPHIC]


Some Highlights:

With interest rates hovering at near historic lows, now is a great time to look back at where they’ve been, and how much they’ve changed over time.
According to Freddie Mac, mortgage interest rates are currently hovering near a five-decade low.
The impact your interest rate has on your monthly mortgage payment is significant. An increase of just $20 dollars in your monthly payment can add up to $240 per year or $7,200 over the life of your loan. Maybe it’s time to lock in now while rates are still low.

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  alameda county, bay area, buyers, house, pleasanton, moving up., down payment, fha, mortgage, mortgage insurance, pmi

Tuesday, February 18, 2020   /   by Steve Mohseni

How the Housing Market Benefits with Uncertainty in the World

How the Housing Market Benefits with Uncertainty in the World




It’s hard to listen to today’s news without hearing about the uncertainty surrounding global markets, the spread of the coronavirus, and tensions in the Middle East, just to name a few. These concerns have caused some to question their investment plans going forward. As an example, in Vanguard’s Global Outlook for 2020, the fund explains,
“Slowing global growth and elevated uncertainty create a fragile backdrop for markets in 2020 and beyond.”
Is there a silver lining to this cloud of doubt?


Some worry this could cause concern for the U.S. housing market. The uncertainty, however, may actually mean good news for real estate.
Mark Fleming, Chief Economist at First American, discussed the situation in a recent report,


“Global events and uncertainty…impact the U.S. economy, and more specifically, the U.S. housing market…U.S. bo ...

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  alameda county, bay area, buyers, house, pleasanton, moving up.

Tuesday, February 18, 2020   /   by Steve Mohseni

Why Put More Down!

The least amount in a down payment is an attractive option when people are thinking of buying a home.  A common reason is to have cash available for furnishing the new home and  possible unexpected expenses.
Some people don't have any options because they only have enough for a minimum down payment and the closing costs.  For those fortunate buyers who do have extra money available, let's look at why you'd want to do such a thing.
Most loans in excess of 80% loan to value require mortgage insurance to protect the lenders for the upper portion of the loan if the home were to go into foreclosure.  FHA requires an up-front premium of 1.75% of the amount borrowed plus a monthly amount of .85% on the balance.  FHA mortgage insurance premium must be paid for the life of the loan.
Mortgage insurance on conventional loans varies depending on the borrowers' credit and the amount of down payment being made.  Unlike FHA, when the unpaid balance reaches 78% ...

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  alameda county, bay area, buyers, house, pleasanton, moving up., down payment, fha, mortgage, mortgage insurance, pmi

Thursday, December 5, 2019   /   by Steve Mohseni

Is A Bigger House Within Your Budget?

Is A Bigger House Within Your Budget?


At this time of year, many families come together to celebrate the season. It’s also the time when many realize their homes are just not quite big enough to host all of their guests and loved ones. Are you one of those homeowners dreaming for a larger space to call home?
You may have enough equity in your current home to move up.
According to the Q3 2019 U.S. Home Equity & Underwater Report by ATTOM Data Solutions,

“14.4 million residential properties in the United States were considered equity rich, meaning that the combined estimated amount of loans secured by those properties was 50 percent or less of their estimated market value.”

This means that one in four of the 54 million mortgaged homes in the U.S. have at least 50% equity. If these homeowners decide to sell, they can use their equity to put toward the purchase of a new home. Maybe you’ll be one of them.
NAR recently released th ...

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  alameda county, bay area, buyers, house, pleasanton, moving up.

Compass | Mohseni Real Estate Group
Steve Mohseni
15 Railroad Avenue
Danville, CA 94526
925-484-0707
CA DRE# 01267039

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