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 worry about rent
  • Mortgage refi boom
  • New-home sales slow
  • Tweet this: Facebook Twitter employees Like cheaper housing
  • CalHFA boosts income limits

COVID slams the door on home sales in April

Sales plummeted 30% in April compared to a year ago, the largest decline since the Great Recession. It was across-the-board pain as the pandemic prompted businesses to close and millions to lose jobs.

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

Homeowners may not need Uncle Sam’s help with mortgages

Lenders offering to delay payments could be the best option for hard-hit households dealing with job losses from the COVID-19 pandemic. Forbearance is better than foreclosure, an often lengthy and painful process for homeowners, servicers and communities.

Also in the blog:
  • Which counties face the highest risk for a housing collapse from COVID-19?
  • Walkable is nice, but not as important as price
  • Obama vs. Trump in the rental ring

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Worried about the mortgage or rent? Help for homeowners and renters affected by COVID-19

We know you’re worried, the coronavirus has already affected you in so many ways. But there is some help with the mortgage or rent the next few months. Uncle Sam, the state, cities and even big banks are taking unprecedented steps to help.

Details on:
  • Homeowners with FHA-backed mortgages can get help up to a year
  • Banks, credit unions offer three-month break in mortgage payments
  • State, cities and counties ban evictions for a few months
  • You really wanna buy or sell a house now? If so, be patient.

Curb appeal pays off more than kitchen remodels

Stone veneer and new garage doors may not be very exciting, but they are the most rock-solid of investments when it comes to home-improvement projects.

What regions are most at risk for wildfires?

Nine of the nation’s 15 metro regions with the highest risk of wildfires are in California, threatening the state’s residents and economy.

Mortgage rates

Long-term rates inched lower for the week ending May 21, remaining near a record-low.
30-year: 3.24% vs. 3.28% a week ago
15-year: 2.70% vs. 2.72% a week ago
Source: Freddie Mac

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