BradyLoan.com

Welcome Home to San Diego Veterans. Thank You For a Great 2014

We are grateful for ALL of the people, who have chosen Debra Brady and I, for their mortgage financing in 2014. While the year started off slowly, it really picked up after August 1, 2014--that may be an indication of what 2015 volume will be.

We have focused on veteran housing issues since we lived near Luke Air Force Base in Arizona. This year marks our 11th year serving our San Diego veteran community.  We moved here in 2003 and, while VA home loans were "out-of-style" for a few years, higher loan limits (and lower housing prices) made them a popular mortgage product again.  Popular or not, we still plugged away.  Today, San Diego recognizes us as VA home loan experts; we have a special expertise in getting a VA  condominium approval.

We are proud to close out December, 2014 by funding loans for a Marine Corps veteran, a Marine Corps Staff Sgt, an Air Force veteran, and a Coast Guard Officer. Thank you to all the "sheepdogs" for serving our country and thank you for making us a part of your home buying process.

Happy New Year and welcome home service members.

San Diego Mortgage Rates Report for January 1, 2015

The mortgage bond market is currently at it's 2014 high price levels.  If prices hold, mortgage bonds will close 5% higher than they closed in 2013.  What this means to you is that retail mortgage rates should be about a half of percent lower than they were in December 2014.

This hasn't necessarily happened though.  Mortgage lenders have been wary to pass those bond market gains onto the consumer.  There is an "angst" that the party could end at any given time.  Conventional mortgage rates haven't improved as much as VA home loan or FHA mortgage rates have.  Still, I"m hopeful that next week will see rates more in line with the bond market gaints.

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 December 31, 2014:

30 Year fixed conventional average=  3.97%
15 Year fixed conventional average=   3.07%
30 year fixed VA/FHA average=               3.82%
30 year fixed VA/FHA jumbo avg.=       4.00%
5/1 adjustable rate conv. average=         3.13% -

How can this benefit you?  If you are shopping for a home in San Diego, having a full pre-approval will permit you to lock-in a rate as soon as you receive verbal acceptance of an offer rather than waiting for a contract.  If you currently own a home in Californis, it might make sense to review your mortgage with us today or Friday.  We can run quick numbers to see if it makes sense to restructure your home loan.  Call us at 858-777-9751.  We usually answer the phone right away (or call you back within an hour or two)

If you want to receive a text report of rates, every 10-20 days or so, text the word RATE to 313131 or subscribe to the mortgage rates report via text by adding your cell phone here