Rate Lock Advice and Mortgage Market Update November 25, 2009, 2:55 PT RATE LOCK ADVISORY Lock Advice:  FLOAT With CAUTIONThe Float with Caution recommendation is because rates have been down for a while and they almost always adjust in the other direction after a long run.MBS prices closed up 1/32.  It was a volatile session the day before Thanksgiving RATE NOTES:When MBS prices are up, Rates are down.Lock advice can change throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage Down 0.08% at 4.87% on Nov.25 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.39% Down 0.058%. 10 Year Treasury Currently 3.270% Down -0.05% DJI Stocks closed the day at $10,464.40,  Up 30.69, 0.29% European and Asian Markets Up 0.595% Nymex Crude Oil Currently $77.80 U... 11/25/2009

Rate Lock Advice and Mortgage Market Update November 25, 2009, 9:30 PT RATE LOCK ADVISORY Lock Advice:  FLOAT With CAUTIONThe Float with Caution recommendation is because rates have been down for a while and they almost always adjust in the other direction after a long run.Midmorning Rate increases are a risk from some investors. MBS prices are down -2/32 below 9:45 ET pricing of +3/32. It has been a volatile session, and investors may have priced at different levels. RATE NOTES:When MBS prices are up, Rates are down.Lock advice can change throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage Down 0.07% at 4.88% on Nov.25 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.39% Down 0.058%. 10 Year Treasury Currently 3.340% Up 0.02% DJI Stocks $10,... 11/25/2009

Short Sales in East Escondido are closing, and buyers are getting fantastic deals! Check this out: Bedrooms: 2 Baths: 2 Square Footage: 1104 Cross Street: Bear Valley Parkway Sold Price: $140,000 This charming single level home has skylights, vaulted ceilings, a tiled entry, a large living room with fireplace, separate dining area and a wonderful kitchen. There are great deals on short sales in East Escondido. If you are a buyer who is interested in participating in a short sale, know that you need to have patience. Just like this wonderful property, there are many more. If we can help you to buy or sell your property in Escondido, San Marcos or beyond, please do not hesitate to give us a call! 11/24/2009

Rate Lock Advice and Mortgage Market Update November 24, 2009, 11:10 PT RATE LOCK ADVISORY Lock Advice:  FLOAT With CAUTIONThe Float with Caution recommendation is because rates have been down for a while and they almost always adjust in the other direction after a long run.MBS prices are up +6/32 and it is possible to see some rate improvement this morning.Consumer Confidence came in higher than expected. RATE NOTES:When MBS prices are up, Rates are down.Lock advice can change throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage Down 0.01% at 4.96% on Nov.24 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.447% Down 0.074%. 10 Year Treasury Currently 3.330% Down -0.04% DJI Stocks $10,419.88,  Down -31.07, -0.3% European and Asian Markets Down... 11/24/2009

Rate Lock Advice and Mortgage Market Update November 23, 2009, 9:00 PT RATE LOCK ADVISORY Lock Advice:  FLOAT With CAUTIONThe Float with Caution recommendation is because rates have been down for a while and they almost always adjust in the other direction after a long run.MBS prices are Up 4/32.  Some rate improvements may be possible.Existing Home Sales were stronger than expected. RATE NOTES:When MBS prices are up, Rates are down.Lock advice can change throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage Down 0.01% at 4.98% on Nov.20 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.521% Up 0.009%. 10 Year Treasury Currently 3.380% Up 0.02% DJI Stocks $10,452.91,  Up 134.75, 1.31% European and Asian Markets Up 1.773% Nymex Crude Oil Currentl... 11/23/2009

Elimination of FHA Condominium Spot Approval Delayed Again. Lender spot approval was scheduled to end after several delays on December 7, 2009, the elimination of condominium spot approval has been delayed until February 1, 2010. Implementation of FHA new condominium project approval process is delayed again to December 7, 2009.  It was originally to go into effect on October 1 then delayed until November 2, 2009.   So if December 7, (an auspicious date indeed) is the date then at that time individual lenders will begin to approve each condominium project.  FHA Mortgagee Letters 2009-46 A and 2009-46 B describe the new approval process in detail. Below are the questions needed for a FHA condo spot approval up to February 1, 2010 FHA Condo Spot Approval Check List _______ 1.  The legal d... 11/23/2009

Rate Lock Advice and Mortgage Market Update November 21, 2009, 9:00 PT Next week should be an intersting week in Mortgage Land.  A wide range of economic data will be released during the shortened week ahead. Existing Home Sales will come out on Monday. GDP, Consumer Confidence, and the FOMC Minutes from the November 4th Fed meeting will be released on Tuesday. Durable Orders, Personal Income, Core PCE inflation, New Home Sales, and Consumer Sentiment will all be packed in on Wednesday. In addition, there will be Treasury auctions on Monday, Tuesday, and Wednesday. Mortgage markets will be closed on Thursday for Thanksgiving. RATE LOCK ADVISORY Lock Advice:  FLOAT With CAUTIONThe Float with Caution recommendation is only because rates have been down for a while and they almost always ad... 11/21/2009

Rate Lock Advice and Mortgage Market Update November 20, 2009, 10:15 PT RATE LOCK ADVISORY Lock Advice:  FLOAT With CAUTIONThe Float with Caution recommendation is only because rates have been down for a while and they almost always adjust in the other direction after a long run.MBS prices are up +3/32.  No economic data will be released today. RATE NOTES:When MBS prices are up, Rates are down.Lock advice can change throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage Down 0.01% at 4.98% on Nov.20 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.513% Down 0.004%. 10 Year Treasury Currently 3.360% Up 0.01% DJI Stocks $10,289.52,  Down -42.92, -0.42% European and Asian Markets Down -0.758% Nymex Crude Oil Currently $76.70 Down $0.76 Take 5 minut... 11/20/2009

Rate Lock Advice and Mortgage Market Update November 19, 2009, 3:00 PT RATE LOCK ADVISORY Lock Advice:  FLOAT With CAUTIONMBS prices are up +1/32. Jobless Claims were close to expectations. RATE NOTES:When MBS prices are up, Rates are down.Lock advice can change throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage Unchanged at 4.99% on Nov.19 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.517% Up 0.005%. 10 Year Treasury Currently 3.340% Down -0.02% DJI Stocks $10,332.44,  Down -93.87, -0.9% European and Asian Markets Down -1.392% Nymex Crude Oil Currently $77.46 Down $2.12 Take 5 minutes to watch this humorous and educational video... The big bailout banks find another way to rip off the consumer... just in a nick of time for them, but not ... 11/19/2009

Rate Lock Advice and Mortgage Market Update November 19, 2009, 11:05 PT RATE LOCK ADVISORY Lock Advice:  FLOAT With CAUTIONMBS prices are up +1/32. Jobless Claims were close to expectations. RATE NOTES:When MBS prices are up, Rates are down.Lock advice can change throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage Unchanged at 4.99% on Nov.19 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.517% Up 0.005%. 10 Year Treasury Currently 3.350% Down -0.01% DJI Stocks $10,284.91,  Down -141.4, -1.36% European and Asian Markets Down -1.392% Nymex Crude Oil Currently $77.35 Down $2.23 Take 5 minutes to watch this humorous and educational video... The big bailout banks find another way to rip off the consumer ... just in a nick of time for them, but n... 11/19/2009

Rate Lock Advice and Mortgage Market Update November 18, 2009, 2:00 PT RATE LOCK ADVISORY Lock Advice:  FLOAT With CAUTIONMBS prices are -2/32 slightly above 9:45 ET pricing of -3/32. MBS prices reached a low of -5/32.CPI came in a little higher than expected, while Housing Starts fell short of the consensus. RATE NOTES:When MBS prices are up, Rates are down.Lock advice can change throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage Unchanged at 4.99% on Nov.18 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.512% Up 0.042%. 10 Year Treasury Currently 3.370% Up 0.04% DJI Stocks closed $10,426.31,  Down -11.11, -0.11% European and Asian Markets Down -0.051% Nymex Crude Oil Currently $79.65 Up $0.51 Take 5 minutes to watch this humorous and educ... 11/18/2009

Rate Lock Advice and Mortgage Market Update November 18, 2009, 11:50 PT RATE LOCK ADVISORY Lock Advice:  FLOAT With CAUTIONMBS prices are -1/32 slightly above 9:45 ET pricing of -3/32. MBS prices reached a low of -5/32.CPI came in a little higher than expected, while Housing Starts fell short of the consensus. RATE NOTES:When MBS prices are up, Rates are down.Lock advice changes throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage Unchanged at 4.99% on Nov.18 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.512% Up 0.042%. 10 Year Treasury Currently 3.370% Up 0.04% DJI Stocks $10,397.59,  Down -39.83, -0.38% European and Asian Markets Down -0.051% Nymex Crude Oil Currently $79.59 Up $0.45 Take 5 minutes to watch this humorous and educational v... 11/18/2009

Rate Lock Advice and Mortgage Market Update November 17, 2009, 8:30 PT RATE LOCK ADVISORY Lock Advice:  FLOAT With CAUTIONMBS are bouncing around this morning, up 2/32 and down 6/32.  Currently  prices are down 1/32.  PPI inflation was lower than expected, but MBS prices did not improve after the data. RATE NOTES:When MBS prices are up, Rates are down.Lock advice changes throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage Down 0.06% at 4.99% on Nov.16 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.47% Down 0.018%. 10 Year Treasury Currently 3.340% Up 0.01% DJI Stocks $10,378.02,  Down -28.94, -0.28% European and Asian Markets Down -0.661% Nymex Crude Oil Currently $78.64 Down $0.26 Take 5 minutes to watch this humorous and educational video... 11/17/2009

Rate Lock Advice and Mortgage Market Update November 16, 2009, 10:30 PT RATE LOCK ADVISORY Lock Advice:  FLOATMBS prices are up +7/32. Hold locks for Possible rate improvements.  The Retail Sales data was mixed. RATE NOTES:When MBS prices are up, Rates are down.Lock advice changes throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage Down 0.06% at 4.99% on Nov.16 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.488% Down 0.07%. 10 Year Treasury Currently 3.350% Down -0.1% DJI Stocks $10,419.20,  Up 148.73, 1.45% European and Asian Markets Up 1.296% Nymex Crude Oil Currently $78.97 Up $2.62 Take 5 minutes to watch this humorous and educational video... The big bailout banks find another way to rip off the consumer ... just in a nick of time for ... 11/16/2009

More than a month ago on Monday, October 5, The FHA Taxpayer Protection Act of 2009 - HR 3706 - authored by Rep. Scott (Goober) Garrett (R-NJ) was introduced to Congress.   If passed It would increase the minimum down payment for FHA insured mortgages from 3.5% to 5% and the law would prohibit financing FHA closing costs.  BUT WAIT there is more! One tiny fact looms large and questions the Congressman's competence to propose any laws governing FHA is that FHA already no longer allows closing costs to be computed in the loan amount.  This changed last year.  See FHA Regs 4155 page 35 This ill advised, poorly researched, legislation will not help our recovering market or even our future mortgage stability.  FHA is not the culprit or even one of the culprits in the recent mortgage fiasco. ... 11/15/2009

Escondido Renaissance Faire San Diego 2009 Escondido, CA. November 2009We decided to go checkout the Escondido Renaissance Faire at Felicita Park in Escondido in North County San Diego. The Renaissance village known as "Village of Falconbridge" had an admission price of $16 per adult. I thought it was a little steep for a ticket but after seeing how much it took to put this event together I thought it was well worth the admission price.Felicita Park itself is covered with large oaks and Sycamore trees and is great outdoor park in San Diego. This event had a true feeling of a Medieval Village complete with knights, Ladies, and everything you would expect. Most people were dressed up in medieval attire and really looked good. There was entertainment, like sword fighting, battles, singing,... 11/13/2009

Rate Lock Advice and Mortgage Market Update November 13, 2009, 3:00 PT RATE LOCK ADVISORY Lock Advice:  FLOATFavorable repricing may be possible from early investors. MBS prices are up +6/32 RATE NOTES:When MBS prices are up, Rates are down.Lock advice changes throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage Down 0.01% at 5.05% on Nov.13 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.558% Down 0.035%. 10 Year Treasury Currently 3.420% Down -0.03% DJI Stocks $10,270.47,  Up 73, 0.72% European and Asian Markets Up 0.062% Nymex Crude Oil Currently $76.35 Down $0.59 Take 5 minutes to watch this humorous and educational video... The big bailout banks find another way to rip off the consumer... just in a nick of time for them, but not for us. ... 11/13/2009

Rate Lock Advice and Mortgage Market Update November 13, 2009, 9:40 PT RATE LOCK ADVISORY Lock Advice:  FLOATFavorable repricing may be possible from early investors. MBS prices are up +6/32 RATE NOTES:When MBS prices are up, Rates are down.Lock advice changes throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage Unchanged at 5.06% on Nov.13 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.558% Down 0.035%. 10 Year Treasury Currently 3.440% Down -0.01% DJI Stocks $10,294.73,  Up 97.26, 0.95% European and Asian Markets Up 0.062% Nymex Crude Oil Currently $77.08 Up $0.14 Take 5 minutes to watch this humorous and educational video... The big bailout banks find another way to rip off the consumer... just in a nick of time for them, but not for us. ... 11/13/2009

Rate Lock Advice and Mortgage Market Update November 12, 2009, 8:00 PT RATE LOCK ADVISORY Lock Advice:  FLOATMBS prices are down -1/32 from Tuesday's close. Jobless Claims came in a little lower than expected. RATE NOTES:When MBS prices are up, Rates are down.Lock advice changes throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage Unchanged at 5.08% on Nov.11 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.593% Down 0.02%. 10 Year Treasury Currently 3.480% Down -0.02% DJI Stocks $10,277.95,  Down -13.31, -0.13% European and Asian Markets Up 0.087% Nymex Crude Oil Currently $78.20 Down $1.08 Take 5 minutes to watch this humorous and educational video... The big bailout banks find another way to rip off the consumer... just in a nick of time fo... 11/12/2009

Hello and Welcome to Elfin Forest California Free Foreclosure Auction Search, Bank Owned REO, Short Sales, and Homes for Sale. November 10th, 2009 Understanding the foreclosure property auction (also known as Trustee Sale) process takes time, due diligence, and understanding.  Saavy Real Estate investors can find some of the best deals around buying at these auctions, but is it right for everyone?   We would like to help explain further about these auctions and the benefits and downsides of buying Real Estate at them. Here are some of the latest statistics from Foreclosure Radar hot off the press for September 2009.  If you are unfamiliar with some of the following terms please read below for further explanations. Notice of Defaults for California rose by 1.08% to 37,417 filings. Notice... 11/11/2009