Category Archives: Interest Rate Updates-Lending Issues

Interest Rates 4.25% and a tad shaky!

Current Mortgage Rates for SONOMA COUNTY, CA

I hope you are having a great day! I’ve included below a selection of current rates for a few of our many products. I’d be happy to discuss options with you and your client based on their particular needs.

Conforming

Loan Type MI Type Interest Rate APR
5/1 ARM Conforming 3.625% 3.903%
30-yr fixed Conforming 4.250% 4.310%
FHA 30-yr fixed MIP 4.250% 5.001%
VA 30-yr fixed 3.875% 4.011%
15-yr fixed Conforming 3.750% 3.818%

Non-Conforming

Loan Type MI Type Interest Rate APR
5/1 ARM Non-Conforming 3.375% 3.800%
30-yr fixed Non-Conforming 4.000% 4.023%
VA 30-yr fixed 4.000% 4.126%
15-yr fixed Non-Conforming 3.750% 3.791%

Information displayed is accurate as of 1/13/2017 1:19:53 PM (CT) and is subject to change without notice.

For information on the many other loan options we have available, please contact Erik Oquist below:

 

Erik Oquist

Home Mortgage Consultant
Residential Lending
NMLSR ID 447900

Wells Fargo Home Mortgage | 600 Bicentennial Way, Suite 200 | Santa Rosa, CA 95403
MAC A0626-020
Tel 707-535-2655 | Cell 707-889-5626 | Fax 866-617-5206 | Toll-Free 877-534-1810

erik.oquist@wellsfargo.com | http://www.erikoquist.com

Wow! Rates Dropped Again! Jumbo cheaper than Conforming.

Rates are so low it’s Xmas in October!

Low Rates early Xmas Present!
Low Rates early Xmas Present!

Conforming

Loan Type MI Type Interest Rate APR
5/1 ARM Conforming 3.000% 3.523%
30-yr fixed Conforming 3.375% 3.432%
15-yr fixed Conforming 2.875% 2.977%

Non-Conforming: Over $554,300

Loan Type MI Type Interest Rate APR
5/1 ARM Non-Conforming 2.625% 3.378%
30-yr fixed Non-Conforming 3.250% 3.272%
15-yr fixed Non-Conforming 3.000% 3.040%

Information displayed is accurate as of 9/30/2016 2:59:57 PM (CT) and is subject to change without notice.

For information on the many other loan options we have available, please contact me. I look forward to hearing from you.

 

Erik Oquist

Home Mortgage Consultant
Residential Lending
NMLSR ID 447900

Wells Fargo Home Mortgage | 600 Bicentennial Way, Suite 200 | Santa Rosa, CA 95403
MAC A0626-020
Tel 707-535-2655 | Cell 707-889-5626 | Fax 866-617-5206 | Toll-Free 877-534-1810

erik.oquist@wellsfargo.com | http://www.erikoquist.com

BREXIT–Brittian votes to leave the EU–Flight to Bonds–Interest rates go LOWER!!

So when the world economy shudders and lurches on the news of  “the un-thinkable” –Brittian leaving the EU– the smart money runs for the relative safety of “bonds”. Bad news=great interest rates! This is getting seriously low.  Look at these absolutely delicious rates!

Mortgage Rates for June 24, 2016

FIXED AND ARM CONVENTIONAL PROGRAMS RATE         APR
30 Year Fixed Conventional 3.500%      3.665%
15 Year Fixed Conventional 2.875%      3.015%
5/1 LIBOR ARM Conventional 3.000%      3.088%
7/1 LIBOR ARM Conventional 3.125%      3.178%
JUMBO PROGRAMS ($554k +) RATE          APR
30 Year Fixed 3.375%       3.592%
15 Year Fixed 3.250%       3.009%
5/1 LIBOR ARM 2.750%       2.847%
7/1 LIBOR ARM 2.750%      2.911%
FHA/VA FIXED PROGRAMS RATE          APR
30 Year FHA/VA 3.250%      4.397%
15 Year FHA/VA 3.250%      4.660%

 

This week–the lovely and talented Pete Phillippe Joins us! Talking Interest Rates!

Our "Loan Guy" Pete Phillippe
Our “Loan Guy” Pete Phillippe

We are delighted to have on old friend of the show Mr. Pete Phillippe in studio this Sunday for Mother’s Day. Pete and I go back many years and no finer lender will you meet. We’ll be talking up interest rates and see what the folks over at US Bank have in the way of interesting products. Email Pete for all your lender questions.

Peter.Phillippe@usbank.com

Upcoming Guests soon to the Real Estate Hour.

Roy joined us and discussed trusts, wills and probate. Interesting and timely show.
Roy joined us and discussed trusts, wills and probate. Interesting and timely show.

The longest running real estate talk show, now into its 20th year, is booking very interesting and timely guests in the weeks and months to come. Coming May 1st, Roy Johnston, attorney, speaking on the new form of real estate ownership which has a very simple, perhaps too simple, Deed. He’ll speak on this plus OTHER issues of taking title to real estate, probate process and other trust issues. Continue reading Upcoming Guests soon to the Real Estate Hour.

Weekly Interest Rate update, Courtesy of Otto Kobler of Summit Funding

Mortgage Rates for March 11, 2016

FIXED AND ARM CONVENTIONAL PROGRAMS RATE         APR
30 Year Fixed Conventional 3.875%      4.040%
15 Year Fixed Conventional 3.125%      3.265%
5/1 LIBOR ARM Conventional 3.875%      3.963%
7/1 LIBOR ARM Conventional 3.750%      3.803%
———————-
JUMBO PROGRAMS ($417k +) RATE          APR
30 Year Fixed 3.750%       3.967%
15 Year Fixed 3.500%       3.259%
5/1 LIBOR ARM 2.875%       2.972%
7/1 LIBOR ARM 3.250%      3.411%
————————
FHA/VA FIXED PROGRAMS RATE          APR
30 Year FHA/VA 3.500%      4.647%
15 Year FHA/VA 3.500%      4.910%

Continue reading Weekly Interest Rate update, Courtesy of Otto Kobler of Summit Funding

Otto Kobler, Summit Funding Joins us on the Real Estate Hour – New Loan Programs and Updates

Did you miss it??…here’s the podcast;

Real Estate Hour favorite, Otto Kobler of Summit Funding will explain a new more -flexible (?) Fannie Mae loan. Plus; What’s up with interest rates, Jumbo financing, Bridge loans, and more.

Otto Kobler Summit Funding, Inc. Branch Manager / Senior Loan Officer okobler@summitfunding.net
Otto Kobler
Summit Funding, Inc.
Branch Manager / Senior Loan Officer
okobler@summitfunding.net

NMLS ID#: 225957
CA BRE ID#: 00981742
1400 N. Dutton Avenue Suite 5
Santa Rosa, CA 95401
Office: (707) 522-6300 (Ext: 311)
Fax: (707) 522-6303
Email: okobler@summitfunding.ne

– See more at: http://www.summitfunding.net/okobler#sthash.c3kBjNOr.dpuf

This is not your Grandparent’s Reversed Mortgage. Today’s Reverse Mortgage Explained

Think you know ALL about reverse mortgages? You might be in for a few surprises. Jill Grom , Reverse Mortgage Specialist with Alliance Reverse Mortgage, joins us on this Sunday’s show to talk about the many things you may not know about Reverse Mortgage.

Tune in every Sunday from 9-10AM pst for The Real Estate Hour on KSRO 1350AM, 103.5FM and streaming live at www.KSRO.com

Reverse Mortgage specialist--a great guest too! Very informative.
Reverse Mortgage specialist–a great guest too! Very informative.

Jill Gromm |  VP, Reverse Mortgage Specialist 707-535-2926 – Cell 707-235-2269                             www.allreverse.com (Formerly California Reverse Mortgage Consultants)

cid:3511512905_16256324
A TRUSTED CREDIT UNION PARTNER

3033 Cleveland Avenue Suite 150  |  Santa Rosa CA 95403  |  CA BRE 01326979  |  NMLS 246723
MEMBER OF NATIONAL REVERSE MORTGAGE LENDERS  ASSOCIATION

About Jill:
Jill Gromm is an experienced mortgage professional providing mortgage loans for over 14 years and has spent the last 9 years specializing in Reverse Mortgages. She works for Alliance Reverse Mortgage which is located in the Redwood Credit Union’s corporate office on Cleveland Blvd.
Jill’s mission is to educate the senior homeowner and provide safety, security and peace of mind on every loan. She is a trusted advisor that not only works with each client through the loan process but also keeps in touch with all of her clients after the loan closes to answer any questions during the servicing of the loan.
Jill’s keys to success is to listen to her clients needs and educate them on all mortgage options to see what is in the clients’ best interest. She gives every client personal and professional service including in-home consultations. Continue reading This is not your Grandparent’s Reversed Mortgage. Today’s Reverse Mortgage Explained

“How to Beat Out a Cash Buyer” with Otto Kobler, Summit Funding.

Otto Kobler-Summit Funding
Otto Kobler, Summit Funding showing off his American Spirit at the North Bay Association of Realtors, Santa Rosa Chapter marketing meeting and 4th of July Celebration on Tuesday.

Real Estate Hour favorite, Otto Kobler, of Summit Funding will be joining us this Sunday.

In this hot and heavy real estate market, cash buyers often beat out financed buyers in a multiple offer situation.

Learn Otto’s strategy that helps buyers with financing rise above the cash offers and present a winning offer.

Plus; There are big changes coming to the lending process, and looming interest rate hikes. Otto will fill us in on all of this and more.

Join Mike Kelly and Allison Norman for new and information about Real Estate in Sonoma County, Ca, and around the country, every Sunday on The Real Estate Hour 9-10AM, 1350AM, 103.5FM and streaming live at www.KSRO.com

Otto Kobler Summit Funding, Inc. Branch Manager / Senior Loan Officer okobler@summitfunding.net
Otto Kobler
Summit Funding, Inc.
Branch Manager / Senior Loan Officer
okobler@summitfunding.net

 

Buyer Purchasing Power is Up in Sonoma County, Ca.

If you are a serious “fence-sitter” remember the longer you wait the LOWER your “purchasing power”. The chart below shows just how much you will lose. Rates today are at or near the 3.75% and as you can see a $400,000 Loan is at $1,852. Most economists agree that the rates will rise this year and into the next with 4.75% NOT an unrealistic number. Look at how much “purchasing power” you lose. Now factor in the market appreciating say at 5% for this year and you lose big time. ACT NOW! We have the answers on HOW to buy, get through the mortgage maze and leap the hurdle of homeownership. 2BuyersPurchasingPower015-04-10_9-39-50