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Proposition 19: Proposition 19: Property Tax Increase Limits on Primary Residences

How does Proposition 19 change the rules on tax basis portability?
Property Tax Increase Limits on Primary Residences

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Fannie Mae, Freddie Mac Conforming Loan Limits to Rise in 2021

Big news in the Market today!! Fannie Mae and Freddie Mac Announced an increase to the loan limits. Maximum $822,375. With the rates as low as they are this is the time to purchase or refinance your current mortgage!!

nahbnow.com The Federal Housing Finance Agency (FHFA) today announced that the maximum baseline conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2021 will increase to $548,250 fro…

[10/23/20]   I’m NOT getting into politics here HOWEVER, if you intend to leave the country Nov 4th, Call me I WILL get your house SOLD for top dollar!!

Call me 818-717-7172!

Banks brace for ‘big bang’ switch on $80,000,000,000,000 worth of swaps

Very Interesting!!

finance.yahoo.com (Bloomberg) -- It’s being called the “big bang,” and it has derivatives traders on high alert.In a critical development in the global shift away from old benchmarks that was triggered by Libor’s…

Inside the New Coronavirus Relief Bill: a Total Eviction Moratorium

I think everyone missed this!

bloomberg.com The $2.2 trillion stimulus package passed by House Democrats includes a complete ban on eviction and foreclosure filings for 12 months.

The cities most at risk of a real estate bubble: UBS

Very interesting!!

finance.yahoo.com Home price growth in major housing markets across the globe have held up during the COVID-19 pandemic — but a few cities could be due for a sharp price correction, according to a new study.

Warner Center Fry’s Electronics Site May Become 880 Apartments Plus Hotel | San Fernando Valley Business Journal

Very interesting but I think the area is already over saturated with condos!

sfvbj.com Multifamily developer Kaplan Management Co. has shed more light on its intentions to build a mixed-use project at the site of Fry’s Electronics at 6100 N. Canoga Ave. in Woodland Hills.

Online Mortgage Applications And Forms - Apply Online

Sooo. I guess the real question is did we hit the bottom?

myprogressivemortgage.com Online Mortgage Applications And Forms - Apply Online

Mortgage rates slide to a jaw-dropping record low as COVID worsens

Give us a call we can help!

finance.yahoo.com Thirty-year fixed-rate mortgages have fallen further below 3%, a survey says.

San Francisco passes a permanent ban on evictions resulting from Covid-19 crisis - San Francisco Business Times

OMG!!

bizjournals.com Since the measure was introduced, it has pitted tenants rights activists versus landlords.

Wells Fargo, worried about defaults, stops making loans to most independent car dealerships

AND THIS IS WHERE THE CREDIT CRUNCH STARTS!!

cnbc.com The move follows Wells Fargo's retrenchment from parts of the mortgage market as the coronavirus pandemic took hold in the U.S.

Fannie Mae issues lender letter on self-employment income - HousingWire

Looks like guidelines are changing!

housingwire.com The new requirements were necessitated by “the pandemic’s continuing impact on businesses throughout the country,” Fannie Mae said.

Home sales dropped nearly 18% in April, while decline in inventory pushed prices to a record high

Hmm. I have not seen a price drop in CA.

cnbc.com The economic fallout from the coronavirus hit the housing market hard in April.

Fannie Mae, Freddie Mac will allow borrowers who took forbearance to refinance their mortgage

This is good news!!

housingwire.com The GSEs will now allow borrowers who went into COVID-19 forbearance to refinance their loan or buy a new home with the support of the GSEs.

Today’s stock market looks like March 2009, before the longest bull run in history, says Morgan Stanley’s Mike Wilson

Let's hope they are right!!

marketwatch.com Morgan Stanley’s Mike Wilson argues that the current stock market looks uncannily like March of 2009, when the U.S. economy was beginning to emerge from the...

Rates flat as overall retail sales plummet, but not surprisingly, online sales soar

remtgs.com April retail sales slumped more than was thought, -16.4% on forecasts of -11.2%...

Jobless claims come in higher than expected as the country slowly reopens

remtgs.com Jobs: Initial Weekly Jobless Claims were higher than expected (2.981M vs. est. of 2.500M)...

Mortgage applications for home purchases jump, and Fed dismisses negative rates

remtgs.com MBA reported weekly mortgage applications last week +0.3% for the composite, purchase apps +11.0%...

Inflation numbers continue to plunge lower

remtgs.com Inflation: One of the key measures of inflation crashed to its lowest level on record...

Three things that can move rates this week

remtgs.com Three Things: These are the three areas that have the greatest ability to impact rates this week...

Record unemployment, stocks jump higher, and rates flat

remtgs.com April employment data this morning, the worst since the Depression, as expected. The initial...

Market Focus: Jobs numbers, central banks, and coronavirus

remtgs.com The Bank of England kept its key interest rate at 0.1%, which was widely expected. However...

Purchase applications jump and the federal deficit balloons

remtgs.com Weekly MBA mortgage applications were essentially unchanged last week; the composite +0.1%...

Purchase applications rise as states plan reopenings

remtgs.com The good news comes after a few weeks of sparse application numbers...

This week rate markets will focus on the Fed, coronavirus, and jobs numbers

remtgs.com Three Things: These are the three areas that have the greatest ability to impact rates this week...

Don't get sucked into a foreclosure rescue scam as you look for financial help

remtgs.com During these times when homeowners might be feeling the burden of financial strain...

Wells Fargo will no longer accept applications for home equity lines of credit

This was expected! I think most big banks are going to stop and close down HELOC's

cnbc.com Banks have been retreating from loans tied to housing as the coronavirus pandemic impacts home values and the creditworthiness of borrowers.

Rates remain calm as markets digest incoming economic data

remtgs.com Yesterday we were worried that the Fed meeting and press conference could cause...

The Fed meeting this afternoon could set the stage for rate market trends

remtgs.com Since April 16, there has been no noticeable change in MBS prices, and the 10 yr note...

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Rates tick lower as the market digests economic data

remtgs.com Trade Balance: The March Goods Trade Balance was $-64.22B vs. est...