Scott Storace - Branch Manager, 100 Pacifica Drive Ste. 140, Irvine CA 92618 NMLS #226339 949.973.0141

"From the minute you call me to the minute we close, I have your back. No hassles, no banker’s hours & quick response times." - Scott Storace

  • Home Loans up to $3,000,000
  • Interest Rate Float Down Option
 

Have Questions? Call 949.973.0141

Market Updates Category

This is where you’ll find current market data. When news and reports are affecting the mortgage industry and interest rates you’ll find that infomration in this category.

Facing a Low Inventory Market

Are you struggling in this low inventory environment? Is it increasingly difficult to find the right property for your buyers? We hear about it all the time from our agents and we are getting loads of questions about it from our clients as well. It seems like there are just not enough homes on the market. Or maybe the properties that are available do not fit your clients individual...[...]

Feds Vote to Raise Rates

Feds Raise Rates – The Federal Open Market Committee committee voted to raise the Fed Funds rate by .25%, bringing the range to 1.50% -1.75%. This is the sixth time they have voted to raise rates since December 2015. In a statement released after today’s meeting the committee is quoted as saying. “The economic outlook has strengthened in recent months,…”...[...]

Mortgage Loan Limits for 2018

Orange County, CA – Big news! The Federal Housing Finance Agency (FHFA) just announced their 2018 loan limits! To watch a short video about it, click here!   With a rise in home prices nation wide, the FHFA have increased the conventional loan limits for single unit properties. In most of the U.S., the 2018 maximum conforming loan limit for one-unit properties will be...[...]

Sell Your Home During the Holidays

Link to Sell Your Home During the Holidays If you could sell your home during the holidays, would you?  For those who have read any of my previous blogs, you certainly know where this is heading.  I am about to list the benefits of selling your home during the holidays despite any whispers of my “Grinch-y” assertiveness! Yes, that’s right!  I may sound like a real “Scrooge” right about now but, I can assure you...[...]

FED Decision Leads to Lower Rates

Orange County, CA – The Federal Reserve Open Market Committee decided not to begin tapering it’s bond buying program, known as Quantitative Easing 3. This decision came as a surprise to the financial markets which had priced in such a change. This surprise led to a quick improvement in interest rates. Over the day they declined approximately 0.125%. Since that time, rates...[...]

Today’s Interest Rates: Does It Make Sense to Wait?

Link to Today’s Interest Rates: Does It Make Sense to Wait?                             We can’t presume to know each person’s circumstances. There are many who would love to take advantage of today’s low rates but can’t for a variety of reasons. It could be a previous short sale or foreclosure that is harming their credit. It could be employment,...[...]

The Near Future of the Housing Market

Orange County, CA – Mortgage rates are starting to stabilize after months of continuous rising, experts believe. The average 30-year fixed mortgage dropped from a rate of 4.37% down to 4.31% over the course of last week. It’s still notably higher than last year’s 3.49%, and not likely to come down to that level any time soon, but at least it’s not still on the...[...]

Purchase Power Declines as Rates and Prices Climb

Link to Purchase Power Declines as Rates and Prices Climb Increasing Rates and Home Prices Push Purchase Power Lower Orange County, CA – Americans firmly believe that owning their home is a quintessential part of the American dream. Landowners have always faired well financially. In addition, homeownership happens to spur the economy nicely. Every new home built creates 3 permanent jobs for the period of 1 year. That’s why we...[...]

Buying vs. Renting Has Never Been Such An Easy Choice

Orange County, CA – If there’s one thing that you can count on to tell you how the market is doing, it’s watching the people whose entire business depends on the market. All through the economic crash, homebuilders have done an astounding job of estimating just how many houses they’ll need to build in the next six months to keep up with demand. Across America,...[...]

California Home Prices Up: Supplies Low, Demand High

Link to California Home Prices Up: Supplies Low, Demand High Steep Home Price Appreciation is the New Gold Rush Orange County, CA – California’s median home price broke the $400,000 mark last month for the first time since the economy tanked in 2008. The California Association of Realtors (CAR) pointed at lots of housing demand and low inventories of available houses as the reason for the home price increase. “The spring...[...]