Mortgage Market Trends, Rates, and Updates Delivered to Your Inbox Weekly. The Easiest Way to Stay Informed.



Rates stable with volatile stock market; Reno loans make lower priced properties more appealing


Market Update

The market recorded wild swings again this week as markets alternatively sold off on fears of a trade war and were encouraged by strong economic data. The 10 year Treasury ended the week at 2.846%, little changed from last week, while the 2 year Treasury note reached a 10 year high of 2.295%. A narrow yield spread has historically been a harbinger of higher long term rates. Inflation data showed Core inflation at 1.8% for the last year, a little short of the Fed’s 2% target. Despite continued moderate inflation the Fed is still expected to raise rates next week and then 2-3 more times in 2018.


Mortgage Market

As buyers struggle with prices that show no sign of going down and huge competition in the mid/high price range, many buyers are looking to lower-priced neighborhoods or fixer upper properties in moderate priced neighborhoods. We just completed a 203K renovation loan purchase of an Oakland property that needs a lot of work. There was reduced buyer interest in this home because of the amount of work to be done, so our buyer could work with the seller to use this financing vehicle. $230,000 of improvements were priced into the financing so the property will be worth $700,000+ when the work is completed. We are the leaders in this type of financing, with a dedicated processing team that is fully versed in renovation financing.



©2017 Finance of America Mortgage LLC | Equal Housing Lender  | NMLS 1071  |   Mortgage Banker License #0910184 | Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act. All information contained herein is for informational purposes only and, while every effort has been made to ensure accuracy, no guarantee is expressed or implied. Any programs shown do not demonstrate all options or pricing structures. Rates are subject to change without notice and are subject to underwriting approval. Some products may not be available in all states and restrictions apply. Check with your Mortgage Advisor for specific down-payment requirements. Rates effective as of 03/16/2018

Holmgren and Associates

DBA of Finance of America
1900 Mountain Boulevard
Oakland, California 94611
Phone: 510-339-2121
NMLS 0910184/1071

Holmgren & Associates is a branch of Finance of America. We are a full service mortgage banker with an experienced staff offering expertise in residential mortgage lending, with primary focus on loans for home purchase, refinance, and reverse mortgages.

Find Us On: