BradyLoan.com

San Diego Mortgage Rates Report: April 13, 2014

It feels good to be on the right side of the market.  We saved a couple of clients some money because the mortgage bond market gained 1.5% in price and we advised clients to float rather than lock last week.  We don't always get these calls correct so we watch an unlocked loan like hawks.  Mortgage rates moved down from their 2014 high (last Friday) to the lowest they've been in a month and we've been riding the wave.  A lot of this has to do with a deteriorating stock market; if that continues, rates will move lower...FAST.

You can follow the national average mortgage rates at Bankrate.com.  San Diego mortgage rates tend to be .125% LOWER than the national average.  Average rates as of April 12, 2014:

30 Year fixed conventional average=  4.26%
15 Year fixed conventional average=   3.27%
30 year fixed VA/FHA average=              3.89%
30 year fixed VA/FHA jumbo avg.=       4.25%
5/1 adjustable rate conv. average=         3.27%

We still think they have room to drop more so we're maintaining the cautious float stance.  If you have a loan which needs to close in April, lock it now.  If you're due to close before May 15, 2014, you might hold out for an eighth of a percent better but you had better have a mortgage loan agent who watched these markets.   If you're closing after May 15, 2014, be patient; I think we'll see lower rates in the first week in May.

April Coastal Real Estate Soiree- Searsucker in Del Mar

It's part networking and all social.  The Coastal Real Estate Soiree is open to professionals in the real estate industry (and their friends).  This is an opportunity to mix and mingle with other residential real estate agents, commercial leasing reps, investors, lenders, escrow officers, title representatives, attorneys, and commercial real estate brokers.

Tuesday, April 29, 2014 
4:30PM until 7:30PM

Searsucker in Carmel Valley will be hosting us on the patio.  Happy hour drink and appetizer specials until 6:30PM.  Check out the Happy Hour drink and appetizer specials here.

Free admission, limited to 50 people.  Secure your FREE reservation and ticket here.
Ten (10), 60-second pitchs avaliable for listings, buyers needs, vendors, etc at $25.00 each.  Secure your "pitch" resrevation here.

Have questions about The Coastal Real Estate Soiree? Contact Brian Brady-- (858)-777-9751

San Diego Mortgage Rates Report: April 7, 2014

Mortgage rates are near their 2014 high.  The mortgage bond market has been bouncing around since our last report (March 14, 2014) but has been steadily deteriorating since that time.  Only in the last two trading sessions have mortgage bonds recovered from their two week slide.  If the rally can continue into next week, we'll see rates come back to their March 14, 2014 level or better.  For now, mortgage rates are about 1/8-1/4% higher than they were a month ago.

You can follow the national average mortgage rates at Bankrate.com.  San Diego mortgage rates tend to be .125% LOWER than the national average.  Average rates as of April 6, 2014:

30 Year fixed conventional average=  4.44%
15 Year fixed conventional average=   3.42%
30 year fixed VA/FHA average=              4.01%
30 year fixed VA/FHA jumbo avg.=       4.375%
5/1 adjustable rate conv. average=         3.41%

We think it's okay to cautiously float at this time.  When we say cautiously float, we assume you're dealing with a mortgage loan originator who is monitoring the mortgage bond market a few times each day and can communicate with you what economic figures can move the market.  If you don't think your originator can answer those questions, call us or lock your rate today.