homesmillbrae.com » Pool https://homesmillbrae.com Thu, 20 Oct 2022 03:48:43 +0000 en hourly 1 http://wordpress.org/?v=3.1 Academy of Art University: $579 million economic impact in Bay Area https://homesmillbrae.com/1886/academy-of-art-university-579-million-economic-impact-in-bay-area/ https://homesmillbrae.com/1886/academy-of-art-university-579-million-economic-impact-in-bay-area/#comments Thu, 06 Dec 2012 10:36:19 +0000 http://homesmillbrae.com/1886/academy-of-art-university-579-million-economic-impact-in-bay-area/ Continue reading →]]> Examiner.com is the inside source for everything local. We are powered by Examiners, the largest pool of passionate contributors in the world.

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]]> https://homesmillbrae.com/1886/academy-of-art-university-579-million-economic-impact-in-bay-area/feed/ 0 Build the Pool First, and Home Buyers Will Come https://homesmillbrae.com/1566/build-the-pool-first-and-home-buyers-will-come/ https://homesmillbrae.com/1566/build-the-pool-first-and-home-buyers-will-come/#comments Fri, 29 Jun 2012 20:35:33 +0000 http://homesmillbrae.com/1566/build-the-pool-first-and-home-buyers-will-come/

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]]> https://homesmillbrae.com/1566/build-the-pool-first-and-home-buyers-will-come/feed/ 0 How do IPOs affect San Francisco real estate? https://homesmillbrae.com/1492/how-do-ipos-affect-san-francisco-real-estate/ https://homesmillbrae.com/1492/how-do-ipos-affect-san-francisco-real-estate/#comments Tue, 22 May 2012 10:40:31 +0000 http://homesmillbrae.com/1492/how-do-ipos-affect-san-francisco-real-estate/ Continue reading →]]> Examiner.com is the inside source for everything local. We are powered by Examiners, the largest pool of passionate contributors in the world.

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]]> https://homesmillbrae.com/1492/how-do-ipos-affect-san-francisco-real-estate/feed/ 0 Refinancing Drop an Ill Wind for Housing Recovery https://homesmillbrae.com/743/refinancing-drop-an-ill-wind-for-housing-recovery/ https://homesmillbrae.com/743/refinancing-drop-an-ill-wind-for-housing-recovery/#comments Wed, 06 Jul 2011 22:29:05 +0000 http://homesmillbrae.com/743/refinancing-drop-an-ill-wind-for-housing-recovery/ Continue reading →]]> Page 1 of 2 | Next Page
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Does anyone remember when the rate on the 30-year fixed mortgage was up around 8 percent? I do.

Perhaps that’s why it continues to stun me that a tiny shift in our now ultra low rates can have a huge effect on consumer activity, namely refinancing. No question, it is a statement on just how tight and how sensitive our current mortgage market is today.

According to the Mortgage Bankers Association’s weekly survey, “The Refinance Index decreased 9.2 percent from the previous week. The Refinance Index has decreased for 3 consecutive weeks, reaching its lowest level since May 6, 2011.”

The mortgage bankers cite a jump (and by jump, I mean more like a hop) in rates on the 30 year from 4.46 percent to 4.69 percent. This is the highest rate since mid-May, they note, which I will note was just two months ago.

Yes, that’s a pretty large jump, but we are still below 5! The trouble is that there is a very small pool of eligible refinancers right now, because 1) so many have already refinanced at these incredibly low rates, 2) many borrowers are still underwater on their homes, which makes them largely ineligible for super low rates and 3) many borrowers don’t have enough equity or the proper credit score to get into a refi that’s worth the cost.

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