Mortgage Information

Sept. 3, 2009

Pasadena Home Buyers: Your Escrow is in Danger of NOT Closing due to Station Fire

With Station Fire burning for the last week or so, home insurance carriers are taking a strong stand when it comes to providing fire insurance to Pasadena home buyers.

Station Fire Action

A United States Forest Service air tanker drops fire retardant next to a line of fire as the Station fire burns ...

View More
Aug. 28, 2009

Pasadena Home Owners and Borrowers - PMI Can be Deducted!

PMI stands for Private Mortgage Insurance. This is an insurance that protects lenders against potential borrower defaults and is usually a requirement for any home loans where the home buyer puts less than 20% down.

Historically, PMI was one of those real estate expenses that could not be deducted, but ...

View More
May 29, 2009

$8,000 Tax Credit Can Now be Used for Down Payment

There are multiple announcements about how home buyers can now use the $8,000 tax credit to use as the down payment on their home purchase. Let no one say that I'm a "party pooper", but somehow, I can not get excited by this announcement.

Why? Well... let's ...

View More
Feb. 2, 2009

LAUSD Employee? Special Home Loans are Available ONLY to You!

If you are an LAUSD (Los Angeles Unified School District) employee, you may qualify for a special home loan through CalSTERS. This special home loan program is open to over 700,000 CalSTRS members including LAUSD employees and college educators.

To assist in purchasing your Pasadena home, CalSTRS offers an ...

View More
Nov. 25, 2008

Pasadena Mortgage Rates Report: Home Buyers and Owners waiting to Refinance NOW is the TIME!

I just got off the phone with my personal mortgage consultant - Mondie Pic'l at Wells Fargo. Today, Pasadena mortgage rates have hit the lowest that we'd seen in quite some time. I have asked her to lock the mortgage rate for me and will be refinancing my home ...

View More
Nov. 19, 2008

Pasadena Mortgage Rates Report - November 19, 2008

by Brian Brady

The economy is really sick:

Today's CPI report signals deflation, or a prolonged price slide, may become another hazard facing Federal Reserve Chairman Ben S. Bernanke and President-elect Barack Obama. Deflation could worsen the economic downturn by making debts harder to pay off and countering ...

View More
Oct. 29, 2008

Pasadena Mortgage Rates Report: Fed Cut To Prompt Lower Mortgage Rates Into November?


We analyze Pasadena mortgage rates by examining the mortgage-backed securities market
and its reaction to economic data and events. Today, the Federal Reserve cut
the Fed Funds rate to an historical low of 1%:

The Fed funds rate target is now ...

View More
Oct. 26, 2008

Pasadena Mortgage Rates Report: October 27, 2008


Friday, Pasadena mortgage rates jumped from 5.875% to 6.25% as mortgage-backed securities traders joined the world wide sell-off. Global stock markets plunged Friday and the Asian markets were weak for Monday. Investors world wide don't want to be invested ...

View More
Oct. 21, 2008

Pasadena Mortgage Rates Report - October 21, 2008

Brian Brady

By: Brian Brady

America's #1 Mortgage Broker

Pasadena Mortgage rates are finally below 6.0% again. If you're closing on your Pasadena home purchase in October, take any rate under 6.0% and lock it in to closing. In the beginning of the month, I suggested to wait ...

View More
Oct. 14, 2008

Pasadena Mortgage Rates Report - October 14, 2008

Brian Brady

By: Brian Brady

America's #1 Mortgage Broker

If you're closing your loan after Friday, I left you naked (not locked). I told you that the fundamentals of the economy would bring rates lower after the bailout was announced. Rates were at 5.875%, today they're at 6 ...

View More