Here is the mortgage rate update for the weekend 9/23/12. It is brought to us by Bob Franklin at Wells Fargo Home Mortgage in Pismo Beach California. Go to my web site at www.myslohomefinder.com for all your home search needs! The Day Ahead: No date today Atlanta Federal Reserve Bank Pres. Dennis Lockhart speaks to the Atlanta Institute of Internal Auditors on "U.S. Economic Outlook and Monetary Policy." He will answer questions from the audience. Dow is trading at 13,635 +39.03, the 10 yr bond is at 1.78 % from 1.74% Yesterday, . Currently mortgages slightly better from Yesterday Conv. - 3.25%FHA. - 3.0% Make it a Great Weekend!! Bob Franklin Mortgage ConsultantNMLSR ID 248760 Wells Fargo Home Mortgage | 575 Price St Suite 105 | Pismo Beach, CA 93449MAC E2396-011Tel (805) 550-3395 | To... 09/23/2012

I had this question come up recently.  What if you are taking a listing with a client that went bankrupt and discharged a debt on the property.  Since there was an attorney involved in the bankruptcy, I always refer my clients  to consult with their attorney.  In one recent case where a client had gone bankrupt under Chapter 13 and wanted to sell her home, my client consulted with her attorney, per my advice, and her attorney told her that she would be reponsible to her debtors since she would be free from the mortgage payment.  This would give her $1,700 more per month for her debtors.  His advice was not to sell the home.  I am very glad that I pointed her to get legal advice, and this saved her a huge amount of money. Just as we always advise our clients to get a home inspection we s... 09/23/2012

I have been wondering about the effects of QE3 on the real estate market?  Also in our local market I have been tracking the number of mortgages in default and the numbers that are 30-120 days late.  It isn't a pretty picture!  Are the banks going to take back these homes after the elections or is there a modification program coming!  If we see a whole sale foreclosure surge we have to wonder about the prices dropping!  We can use a litlle inventory but  a landslide we don't need!  Here is a great article from the Daily Bell and their reporter Catherine Austin Fitts. Visit my web site at www.myslohomefinder.com for all your San Luis Obispo County home buying and selling needs! QE3 – Pay Attention If You Are in the Real Estate Market Thursday, September 20, 2012 – by Catherine Austin Fit... 09/23/2012

It is an American love affair!  And the 6 year downturn has bruised the egos, but the love for housing is still there.  I know because I caught the bug.  It appears to me that the rest of the English speaking world, the U.K., Canada, and Australia also have been smitten!  I recently talked to a German friend and he couldn't understand our cultures love affair with housing.  He could not understand the McMansion mentality or a retired couple living in a 4,000 sq. ft. mansion with a 4 car garage.  My point to him was that we have huge egos and to house our swollen heads we need to have a "show piece".  He laughed at that.  Here is a great article from Casey Research about that very topic. Thank you Vedran Vuk.    America's Hopeless Love Affair with Real Estate By Vedran Vuk After years of... 09/22/2012

Here is the mortgage rate update for 9/21/12.  It is brought to us by Bob Franklin at Wells Fargo Home Mortgage in Pismo Beach California. Go to my web site at www.myslohomefinder.com for all your home search needs! The Day Ahead: No date today         Atlanta Federal Reserve Bank Pres. Dennis Lockhart speaks to the Atlanta Institute of Internal Auditors on "U.S. Economic Outlook and Monetary Policy." He will answer questions from the audience. Dow is trading at 13,635 +39.03, the 10 yr bond is at 1.78 % from 1.74% Yesterday, . Currently mortgages slightly better from Yesterday   Conv. - 3.25%FHA. - 3.0%      Make it a Great Weekend!!     Bob Franklin Mortgage ConsultantNMLSR ID 248760 Wells Fargo Home Mortgage  |  575 Price St    Suite 105  |  Pismo Beach, CA  93449MAC E2396-011Tel (80... 09/21/2012

Mortgage rates are at historic lows!  The 15 year is at its lowest point ever!  It's time to Buy!  I have Bob Franklin's mortgage rate update for all my loyal readers.  Bob is with Wells Fargo Home Mortgage in Pismo Beach California. Go to my web site www.myslohomefinder.com for all your San Luis Obispo home search or sales needs.   The Day Ahead: Jobless Claims, Philadelphia Fed Survey, last of the date for the week There isn't much reversal, at least so far, in initial Jobless Claims following the effects of Tropical Storm Isaac. Claims for the September 15 week are down only 3,000 to a 382,000 level that's sizably above the Econoday consensus for 373,000. The September 8 week is revised to 385,000 with roughly half of the week's 18,000 jump due to Isaac. Stock futures are moving lowe... 09/20/2012

With our mortgage rates at record lows, it's time to buy and refi!  We are experiencing a mini boom in the real estate market and the main reason is the record low rates.  Take advantage of them now!  I can see inflation on the horizon! Visit our web site at www.myslohomefinder.com for your San Luis Obispo County home needs.  We cover the entire county! I have included a recent article concerning this.  This blog is sponsored by Prudential California Realty Fine Homes!   WASHINGTON (AP) — The average U.S. rate on the 30-year fixed mortgage touched its record low this week and the rate on 15-year mortgage hit a new record. The declines followed the Federal Reserve announcement last week that it would buy bonds to try to push mortgage rates lower and stimulate the housing market. Mortgage... 09/20/2012

Here is today's mortgage rate update!  Thanks to Bob Franklin at Wells Fargo Home Mortgage for the update! See my web site at www.myslohomefinder.com for all your home search needs.   The Day Ahead: Housing Starts, Existing Home Sales        There was a rebound in August and the mild uptrend continues. Housing Starts in August advanced 2.3 percent following a 2.8 percent slip in July. The August starts pace of 0.750 million units fell short of the consensus projection of 0.768 million and is up 29.1 percent on a year-ago basis. Existing Home Sales rose strongly for a second straight month, up 7.8 percent in August to an annual unit rate of 4.82 million. This is the largest monthly percentage gain since last August and the highest rate since May 2010. All regions show high single digit g... 09/19/2012

What a change!  Real Estate is picking up and the rest of the economy is still slow.  I found this great article talking about this very subject.   By Jeffry Bartash, MarketWatch WASHINGTON (MarketWatch) — The U.S. has settled once again into a pattern of lackluster growth, but one part of the economy stands out: housing. To be sure, the real-estate market hasn’t come close to recovering from its worst slump in modern times. Sales of new and pre-owned homes and construction on new units are still far below the historical norm. Yet like the turtle in the tale of The Tortoise and the Hare, the market continues to inch forward. Home sales and new construction are among the key economic reports this week in a light slate of data. Also on the docket are several surveys of U.S. manufacturing ... 09/17/2012

There's a lot going on right now!  Bob Franklin gives us the upcoming events for the week!  Bob is with Wells Fargo Home Mortgage in Pismo Beach California. Visit my web site at www.myslohomefinder.com for all your real estate needs. The Week Ahead: Limited Data, Lots Of Fed-Speak As Markets Continue Post-QE3 Trade Today: Empire State Mfg Survey, Orders continue to fall and shipments continue to slow in the New York region's manufacturing sector.Tuesday: Housing Market Index, prior 37, consensus 38Wednesday: Housing Starts, prior 0.746M, consensus 0.768M, Permits, prior 0.812M, consensus 0.802M. Existing Home Sales, prior 4.47M, consensus 4.55M.Thursday: Jobless Claims, prior 382K, consensus 373K, Philadelphia Fed Survey, prior -7.1, consensus -4.0.Friday: No data. Dow is trading at 13,... 09/17/2012

Due to the Fed. policy annouced yesterday, mortgage rates are at record lows. QE3 is here! Check out Bob Franklin's mortgage rate update. Bob is with Wells Fargo Home Mortgage and is your source for all San Luis Obispo County mortgage needs. Visit my web site at www.myslohomefinder.com for all your home search needs. The Day Ahead: Busy Morning Of Data, and lower rates after Fed announces QE3        After FOMC Meeting yesterday, the Fed did move into another round of quantitative easing with so-called QE3. The Fed will purchase additional agency mortgage-backed securities at a pace of $40 billion per month. Higher gasoline prices led to a surge in consumer prices in August. The Consumer Price Index in August jumped 0.6 percent, following no change the prior month. Analysts forecast a 0.... 09/14/2012

We have Bob Franklin's mortgage rate update.  Bob works at Wells Fargo Home Mortgage in Pismo Beach California.  This update is brought to you by Prudential California Realty Fine Homes.  The Day Ahead: Jobless Claims, Producer Price index,  FOMC Meeting (Two Years After QE2, Will Today See The Announcement Of QE3)? Tropical Storm Isaac is at play in initial jobless claims data for the September 8 week. Claims are up 15,000 to 382,000 (prior week revised 2,000 higher to 367,000). The Labor Department tells Market News International that, because of the storm, several states reported in the week increased claims totaling an unadjusted 9,000. After adjustment, the weekly total appears to be roughly in line with the Econoday consensus for 370,000. Distortions add importance to the four-wee... 09/13/2012

Here is today's mortgage rate update for San Luis Obispo County!  It is brought to us by Bob Franklin at Wells Fargo Home Mortgage in San Luis Obispo County. At my web site search for all your real estate needs www.myslohomefinder.com The Day Ahead: Import and Export Prices, Digesting The German Court Vote, Gearing Up For FOMC tomorrow         Import prices excluding petroleum fell 0.2 percent in August which is a 4th straight decline. Prices of imported finished goods continue to edge downward with consumer goods down 0.3 percent for a 3rd straight decline and capital goods down 0.1 percent for the 4th decline in 5 months. These are the weakest readings of the recovery and point to a lack of pricing power for producers. Export prices, lifted by rising prices for agricultural products, ... 09/12/2012

Here is a great piece about the Canadian housing bubble.  It is by Mike "Mish"   Shedlock.  He is a great economics writer that has been talking about the "Great Deflation" the whole world market is going through.   Canada Housing Bubble100% without a doubt, Canada is in the midst of an immense housing bubble. The Canadian bubble outlasted bubbles in China and Australia. Because it did, I get taunts from Canadian readers all the time.I received one just yesterday. It went something like this "So Mish, where's your Canada Housing Collapse?" The answer, as always is "I don't know". That said, bubbles pop by definition. Moreover, the longer the bubble lasts, the bigger the implosion.Australia is in the midst of a big property bubble collapse, a big retail collapse, and a big export mining ... 09/12/2012

Here is the mortgage rates for today.  This is from Bob Franklin at Wells Fargo Home Mortgage in Pismo Beach California. Visit my web site at www.myslohomefinder.com for all your real estate search needs. The Day Ahead: International Trade        The U.S. International Trade balance in July edged up but much less than expected-largely on oil. But it is not looking good for manufacturers as exports declined. But consumer demand may be holding up in the U.S. The trade deficit widened slightly to $42.0 billion from $41.9 billion in June (originally $42.9 billion). Analysts forecast a deficit of $44.3 billion. Exports declined 1.0 percent, following a 1.2 percent boost in June. Imports shrank 0.8 percent after a 1.5 percent fall in June.Dow is trading at 13,330 +75.06, the 10 yr bond is at ... 09/11/2012

Here is the most recent mortgage rate update!  This update is brought to us by Bob Franklin at Wells Fargo Home Mortgage in Pismo Beach California. See my web site for all your home search needs www.myslohomefinder.com The Week Ahead: Action Packed With FOMC, Auctions, And Data Today: No significant date todayTuesday: The U.S. International trade, prior 42.9B, consensus 44.3B Wednesday: Import Prices, prior -.6%, consensus 1.5%   and Export Prices, prior .5%, consensus .5%Thursday: Initial jobless claims, prior 365K, consensus 370K. The producer price index, prior .3%, consensus 1.4%. PPI less food & energy, prior .4%, consensus .2%. FOMC Meeting Announcement, FOMC forecast later in the day, then the Fed Chairman Press Conference.Friday: The consumer price index, prior .0%, consensus .6... 09/10/2012

Yes!  We can now sign and notarize our documents online via SignNow.com.  It's fast, simple and free. Thanks to my friend Duncan Wierman for sharing this super cool tech tool.  Duncan Wierman is a marketing strategist helping small to medium sized businesses to develop online lead generation strategies that will make massive differences to sales revenues. Here’s how it works… You can start by creating a free account in SignNow.com.  Upload any document, add your signature, add text, and just click “done”.  For others to sign the document, just click "invite".  Everyone will get an email of the document when it's completely signed. To notarize online, just provide some information and the system will notify you by asking some quick questions. Then, the system will connect you with a nota... 09/09/2012

I read a great article about the housing colapse, and it has one of the best videos I have seen on the subject. Fault Lines For Sale The American Dream It's been almost six years since the housing bubble burst, foreshadowing the near-collapse of the American economy. Since President Obama took office, his administration announced and implemented a range of measures to help "responsible borrowers" stay in their homes. But until now, there's been little evidence that they have been able to stem the tide of foreclosures. Only one in four homeowners who applied for government-sponsored loan modifications got help. Less than ten percent of the $50 billion promised to homeowners as part of the bailout has been disbursed. And the federal agency overseeing mortgage giants Fannie Mae and Freddie... 09/07/2012

It looks like lower rates are coming from the Fed!  Check out the lower rates below. Visit my web site for your home sales or search needs www.myslohomefinder.com The Day Ahead: Nonfarm Payroll         The odds of some kind of Fed easing at the September FOMC just went up as the employment situation for August was not pretty. Payroll jobs were anemic even though the unemployment rate dipped. The unemployment rate slipped to 8.1 percent from 8.3 percent in July due to a sharp drop in the labor force. Nonfarm Payroll jobs in August advanced a mere 96,000, following gains of 141,000 in July (originally 163,000) and 45,000 in June (previous estimate of 64,000). The net revisions for June and July were down 41,000. Analysts projected a 125,000 gain for August. Dow is trading at 13,291 -0.06,... 09/07/2012

Good morning to all!  Here is the mortgage rate update from Bob Franklin at Wells Fargo Home Mortgage. Go to my web site at www.myslohomefinder.com   The Day Ahead: Nonfarm Business Productivity         Productivity growth for the second quarter was revised up, largely consistent with the upward revision to GDP but also due to a downward revision to hours worked. Nonfarm business productivity rose an annualized 2.2 percent in the second quarter, compared to the initial estimate of a 1.6 percent gain and compared to a 0.5 percent dip in the prior quarter. The consensus forecast was for a 1.9 percent increase for the second quarter. Unit labor costs were revised down to an annualized 1.5 percent increase, compared to the first estimate of 1.7 percent, and following a 6.4 percent surge in ... 09/05/2012