My New Blog

If you are one of the lucky to own 5+ units and your current interest rate is higher than 4.875%, we REALLY need to talk.  You can quickly recapture any cost by the amount you save with the lower payments.

Likewise with residential.  If your rate is higher than 4.875%, we should have talked and already be in the midst of getting your refinance application approved. 

Call or email me NOW.  Happy Holidays !!! 

"The Conference Board said late this morning that their Leading Economic Indicators (LEI) rose 0.9% last month, exceeding forecasts of a 0.6% increase. This means the data is predicting a fairly rapid rate of economic growth over the next several months, making it negative news for bonds and mortgage rates. Fortunately, the data is not one of the more important reports we see each month. Still, it is unfavorable for the bond market, helping to keep bonds in negative ground this morning."

For those of you still on the fence, I would recommend you consider "locking in the rate" of your pending refinances or ratified purchases.  The full report is available on my home page.

"No cost," "Conforming Loans" are running around 4.00 % 30 year fixed so if your rate is above that, it behooves you to take some prompt action and get your completed loan application to me ASAP.

Commercial interest rates continue to astound.  If you have a commercial loan, mixed-use of 5+unit apartment building, we should be talking NOW.

Happy Thanksgiving ALL and especially happy for you if you are able to qualify and take advantage of these great interest rates!

"The Conference Board said late this morning that their Leading Economic Indicators (LEI) rose 0.9% last month, exceeding forecasts of a 0.6% increase. This means the data is predicting a fairly rapid rate of economic growth over the next several months, making it negative news for bonds and mortgage rates. Fortunately, the data is not one of the more important reports we see each month. Still, it is unfavorable for the bond market, helping to keep bonds in negative ground this morning."

For those of you still on the fence, I would recommend you consider "locking in the rate" of your pending refinances or ratified purchases.  The full report is available on my home page.

"No cost," "Conforming Loans" are running around 4.00 % 30 year fixed so if your rate is above that, it behooves you to take some prompt action and get your completed loan application to me ASAP.

Commercial interest rates continue to astound.  If you have a commercial loan, mixed-use of 5+unit apartment building, we should be talking NOW.

Happy Thanksgiving ALL and especially happy for you if you are able to qualify and take advantage of these great interest rates!

Have not seen the rates this low for some time ... call for a quote;  You will be pleasantly surprised!

Residential rates continue to present cost saving opportunities for those with rates in the 5's, 6's etc.  The last deal I closed was a condo with some value issues, a Home Equity Line of Credit that we were able to keep and subordinate.  From 6.25% we were able to reduce that to 4.875-30 year fixed with NO CLOSING COSTS and the borrower received a check for $700+ at close, next payment due in September and NO OUT OF POCKET funds required at close.

Suffice to say, my client is quite pleased ... 

If you are lucky enough to own apartment complexes of 5+ or more units then we really should talk, especially if your current interest rate is in the 5 percentile or higher.  I have some fabulous programs for those who can qualify. 

Residential rates remain low, though we all know that at some point they will be going up and staying up there ... LOCK IN THOSE INTEREST RATE GAINS NOW.  Don't put me in the position of having to say "I told you so" when the you know what, hits the fan ...

BayCal Financial was one of 20 brokerages in the nation, selected to offer Wells Fargo Super Jumbo Products.  Of course I have other lenders but it's always nice to have another Super Jumbo Lender for those million dollar and over; purchases and refinances.

Just wrapped up a $1,000,000 refinance that reduced my client's interest rate from 6.250% to 4.875% on a 5 year fixed.  You do the math~quite a substantial monthly saving ... NO POINTS. 

Rates continue to be quite attractive on all counts ... now if more people could just qualify ~ Ahaha ~

Compensation structure for mortgage brokers and retail loan officers has changed per governmental dictates.  As the dust clears we note that a Conforming Loan which is up to a $417,000 loan amount;  You can still get 4.75% either at par or less than $1000 in points.  At 5.250% and a 30 day lock, the lender will rebate a sufficient amount to cover your closing costs.

It's still prime opportunity time to refinance.  And purchase.  Rates are quite attractive and get in before there are further changes to industry regulations!

Conforming refinance rates are running 5.00-4.875% 30YF for "no points/no fees."  Call me if you need explanation.  There are big changes in store for this industry so whatever you have in mind, "the sooner the better."  I feeling disillusioned with all of the changes in the past couple of years.  None of the changes seem to benefit the public. 

At this time I suggesting that you go to JCCCNC.org and make a contribution to the "Northern Japan Earthquake Relief Fund."  The JCCCNC will make sure every penny they receive goes directly to supply those most in need in the affected areas.