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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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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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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Homebuying 101 is Here!

After months months of pre-production, taping and post-production, we are FINALLY ready to begin releasing our consumer-empowering video production, Homebuying 101. These short movies will give you essential knowledge about the homebuying and mortgage process. They’re short (most are less than 3 minutes) and easy to understand. Our goal in producing this educational series has…

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Talking to Reporters about Mortgages

I spend a fair amount of time speaking with journalists who are working on stories about the housing and mortgage industry. I like to help out, and it does give one a bit of an ego boost to see your name in print as an authority. Recently, I spoke to Geoff Williams, a reporter for…

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The Horror of the FHA Mortgage

I came across an article recently in one of the mortgage industry trade rags: “Republicans Hammer Castro over FHA Premium Reduction.” A little backstory: FHA is a federally insured loan program that requires a small down payment (currently 3.5%). It has helped million of people buy homes since its inception in 1934. The small down…

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Sorry, Mr. Bernanke; your loan is denied.

“My loan is WHAT?” The voice on the other end of the line was shrill—very different from the measured tones most of us had heard from the Chairman of the Federal Reserve, the central bank of the United States of America. I had taken a loan application from former Chairman Ben Shalom Bernanke. He had…

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FHA Mortgage—The Wrong Choice?

The venerable FHA loan has been an important path to home ownership for moderate-income buyers since 1934, when it came into being as part of the National Housing Act. Since that time, some 35 million families have used the federally insured mortgage program to become homeowners with very small down payments. FHA became even more…

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A Minor Improvement in FHA Mortgages

The FHA loan program has been in existence since 1934. It provides government support for low to moderate-income borrowers to buy homes, offering small down payments (currently 3.5%), low interest rates and flexible underwriting standards. These attractive features come with a price, however. The higher risk associated with the small down payment makes mortgage insurance…

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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.

Pinnacle Home Loans

(925) 383-2846
7080 Donlon Way
Dublin, CA 94568