Latest news

Forbearances jump in state

With millions of Californians out of work, the almost 6% of mortgages in forbearance in the state could eventually become homes in foreclosure.

Also in the blog:
  • 1 of 3 renters worries about rent
  • Mortgage refi boom
  • New-home sales slow
  • Tweet this: Facebook, Twitter employees Like cheaper housing
  • CalHFA boosts income limits

Big profits for sellers — and much equity for owners

Homes sold generated hefty paydays for sellers, and many owners are now equity-rich, owing 50% or less on their mortgage than the current market value of their home.

Also in the blog:
  • Lenders demand higher credit scores, larger down payments
  • California dreamin’: 3.5M homes by 2025
  • State warns against forbearance, foreclosure scams

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Mortgage rates

Long-term rates reached a record low for the week ending June 18, and consumers continued to respond based on the applications for mortgages during the past two months.
30-year: 3.13% vs. 3.21% a week ago
15-year: 2.58% vs. 2.62% a week ago
Source: Freddie Mac