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Mortgage Rates Not Getting Better After Fed QE2 Announcement

November 12, 2010 by

After Fed announced to add more treasuries to its balance sheet with $600B more over the next six months, the mortgage rates did not drop as many hoped.

Instead, mortgage rates over the past few days showed signs of trending up. From time to time, I have seen borrowers taking a big risk just for the rate to go down by 0.125%.  For a loan amount of 400K, that 0.125% only translates to monthly saving of $30 dollars.  

When it comes to lock the rate, ask yourself  how much your savings will be if you lock the rate now. If the savings is already significant enough, lock it now. It does not worth to risk already significant savings to wait for just another 0.125% drop in rate. Remember you can always refinance again in a few months if rates drop further again.

If you would like to discuss further on your refinance or getting a mortgage for buying a house, please feel free to email me or call me.

All of our loans are NO COST, NO POINTS and NO PREPAYMENT PENALTY.
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October Housing Sales Activities

November 1, 2010 by
 

Community # of Closed Sales # of Pending Sales Active Listings Months Of Inventory
Campbell 57 185 290 5
Cupertino 41 67 82 2
Gilroy 65 302 321 5
Los Altos 34 35 57 2
Los Altos Hills 8 14 57 7
Los Gatos 41 51 167 4
Los GatosMountains 6 20 66 11
Milpitas 28 79 72 3
Morgan Hill 71 322 388 5
Mountain View 26 36 56 2
Palo Alto  42 54 77 2
San Jose 552 2061 2161 4
Santa Clara 39 117 135 3
Saratoga 23 37 114 5
Sunnyvale 71 173 203 3

 

The sales are for single family houses.
Sales continue slow down in October. Most of the communities have less pending sales than those in September. Across board, active listing numbers also reduced, indicating much less houses for sale.
If you would like to have sales activity report for your neighborhood, please email me or call me
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Rare found one-level newer house in Evengreen: 3107 Toscana Ct

October 23, 2010 by

This house is only 14 years old located in one of the most desirable neighborhoods in Evergreen. It’s almost 1800 sqft in living are and 4800 sqft in lot size.
 
A very rare found feature of this house is it is a one-level house. Most of newer houses nowadays are either two levels or even three levels. Another big value added is it has great schools all the way from elementary to high schools.
 
I helped my buyers bought it at 718K, much lower than the 735K asking price.
 
My buyers are adding their own touch to the interior of the houses and I know they are going to enjoy it for many more years to come. 
 
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