Inside mortgages

The Fed raised rates. So what?

rate hike

The Federal Reserve announced its widely-expected .25% rate hike today. Does this mean mortgage rates will go up? Actually, no; in fact, mortgage rates improved a bit today, as they have been doing consistently Since November 13. To make sense of this, you should first know that the Federal Reserve (specifically the Fed Open Market…

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News about city transfer taxes

You may already be aware that some cities in California impose transfer taxes on top of the one charged in all counties. The county tax, which is $1.10 per $1,000 of transferred value, will remain the same, but some Northern California cities will see a big increase. The city transfer tax is commonly split between…

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What's going on with rates?

If you’ve been keeping an eye on mortgage rates, you are aware that they have been going up quite consistently. To get broad picture, you should know that mortgage rates respond directly to the price of Mortgage Backed Securities (MBS). These are the pools of mortgages purchased by investors like Fannie Mae and Freddie Mac.…

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"Brexit"–and what it means to mortgage rates today

You have probably heard about the important vote in the United Kingdom: Britain will leave the European Union. What you may not know is the effect an event in Europe could have on you here in California. How “Brexit” affects you The results of Thursday’s election in the UK has roiled financial markets all over…

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The Truth About Mortgages

The Narrative If you pay attention to print and broadcast media, you’ve seen stories—lots of them—about how hard getting a mortgage is today. Banks have been upping their standards, they say, cherry picking only the very best applicants with flawless credit scores, lots of money in the bank for large down payments and long tenure…

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Mortgage Rates–the real story

If you own a home today, you are almost certainly being subjected to an avalanche of direct mail urging you to refinance your mortgage. Ads on the radio and TV are in your face constantly, making the same pitch. If you’re like most people, you tune them out. Now may be the time to act.…

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Quicken’s “Rocket Mortgage” catches CFPB’s attention

Anyone watching the Superbowl on Sunday couldn’t miss the ad series for Quicken Mortgage’s “Rocket Mortgage.” If you bought into their pitch, you’d think that you’d download their app, hit a couple of buttons on your phone and get your mortgage in minutes—like magic. The government agency charged with protecting consumers, aptly named the Consumer…

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Another mention in the media!

Are subprime mortgages coming back? I speak to a lot of journalists; between the circulation of “The Mortgage Insider” and the fact that I’ve been around as long as I have, they look to me as an authority for their stories. The latest was in the influential trade magazine, “Scotsman’s Guide.” Reporter Victor Whitman reached…

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Joseph M. Parsons NMLS #230285
Pinnacle Capital Mortgage,
a division of Finance of America, LLC

NMLS# 1071 is licensed by the Department of Business Oversight under the CRMLA.
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Pinnacle Home Loans

(925) 383-2846
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Dublin, CA 94568