Our friends at Freddy Mac announced this week that 15 and 30 year fixed rate mortgages have fallen to their lowest levels since 2004. Looking at the average rate for a 30 year fixed, and noting that we had a decline of 21 basis points, rates fell from 5.69% to 5.48%. Similiarly, the 15 year fixed fell 26 basis points and ended the week at a rate of 4.95% (yes, that's right). Again quoting Freddie Mac, we saw adjustables also fall to...continue reading...

In a somewhat surprising move today, House Financial Services Committee Chairman Barney Frank reported that Congress's Economic Stimulus Package would include an overhaul of the FHA mortgage insurance program and an increase in the conforming loan limit set forth by Fannie Mae and Freddie Mac. The current conforming loan limit of $417,000 along with the FHA limit of $362,000 has made it difficult for homeowners and buyers to obtain favorable terms amid the credit crunch. The plan will allow Fannie...continue reading...

Tuesday was an important day for the markets. Bernanke and company lowered the Fed Funds rate 75 basis points to 3.50%. The largest move since 1984! There are growing concerns that the weakening US economy may spread to the international markets. Watching CNBC, there is talk about the small and large "R word." The small being a national recession and large representing a possible global slowdown. After five consecutive sessions of...continue reading...

Windermere Exclusive Properties is ringing in the New Year with intensified agent services. We have restructured our management team for 2008 and are ready to offer our agents increased support, complimentary coaching, exceptional training and exciting new marketing tools. For most San Diego real estate professionals, 2007 was a year full of challenges. That's why we use a unique management style with multiple levels of support to ensure that our agents have the best resources at their fingertips. Whatever situation may...continue reading...