MORTGAGE NEWS

Anyone 55+ can now transfer their primary residence property tax basis to a replacement primary residence up to 3 times, anywhere in California, and for equal, lesser or greater value! THIS IS HUGE! Prior to Prop 19, this benefit could only be used once, only in participating counties and the replacement property had to be of equal or lesser value!

Two borrowers with identical loan scenarios may receive completely different rates based on shopping alone.

And someone worse off on paper could actually obtain a lower rate than a so-called prime borrower simply by taking the time to gather several quotes instead of just one.

For the record, a Freddie Mac study proved that home buyers who obtained more than one quote received a lower rate.

Visit our Epic Explains website for answers to many of the most often asked questions, not just about mortgages, but about investments and real estate.

Bankrate.com projects fewer re-finances and more home purchases in 2021 than 2020. They claim that analysts predict year-end rates hovering around 3.6%. The story is here.