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.

Welcoming the Return of the Seller’s Market

Link to Welcoming the Return of the Seller’s Market Seller’s Markets Can Be Quite Subjective! Orange County, CA – The National Association of Retailers said last Thursday (the 9th of May) that after five years of decidedly buyer-centric home sales, many areas of the country are experiencing a seller’s market for the first time. “Inventory conditions are expected to remain fairly constrained this year, so overall...[...]

Home Price Forecasts Keep Rising in 2013

Link to Home Price Forecasts Keep Rising in 2013 The Incline of Housing Prices The housing market is rebounding faster than many experts thought it could. Time-honored wisdom said that the way home prices skyrocketed in 2012 would mean that 2013 should be a cooling off period for prices. And yet quarter one has shown home prices increasing this year over last. The Standard and Poor Index showed on Tuesday that prices in January were...[...]

Interest Rates Ride A Rising Wave

Link to Interest Rates Ride A Rising Wave A Growing Wave Leads Interest Rates to Climb Orange County, CA – The improving housing market and the increase in consumer spending are pleasing to some people. But for people looking to borrow money the latest announcements aren’t music to everyone’s ears. The U.S. economy is clearly growing with 29 straight months of job growth. But this means that mortgage interest rates...[...]

Home Loan Delinquencies Drop Again

Link to Home Loan Delinquencies Drop Again Delinquencies Drop For the 4th Month In A Row Orange County, CA – Delinquencies on home loans have lowered significantly. Consistently rising home value levels coupled with a steadily improving US economy have helped homeowners maintain their mortgage payments. We have now seen four straight months of decreasing reports on mortgage delinquencies according to the most recent report...[...]

Foreclosures Down Thanks to California Law

Link to Foreclosures Down Thanks to California Law Homeowner’s Bill of Rights Brings Some Relief TO CA Residents Facing Foreclosure Orange County, CA – Across the nation foreclosures are down around 7% from last month according to Realty Trac. Default notices and bank repossessions were as low as 150,864 housing units through January. These were down from 162,511 in the month of December 2012. Foreclosure starts dropped...[...]

Rate Rises Create Rush on Refinance Applications

Link to Rate Rises Create Rush on Refinance Applications Refinance Options – Lower Rate, Lower Payment, Better Terms or Cash-Out Orange County, CA – The rate rises which have welcomed in the New Year have helped to generate a tsunami of new refinances. According to the Mortgage Bankers Association, the volume of applications for mortgage refinancing leapt by around 12% for the week ending 4th January 2013. This coincides with a...[...]

Increased Interest Rates Spark End Refi Boom

Link to Increased Interest Rates Spark End Refi Boom Refi Boom May be Nearign the End of the Road Orange County, CA – Word on the street is very clearly that interest rates are going to rise in 2013. We can’t be sure of this, but the economic data points in only one direction. Naturally this is a purchase signal to home buyers everywhere. The longer one waits before buying, the more likely they are to receive a higher interest...[...]

Homeowner Trends in 2012

Link to Homeowner Trends in 2012 Happy Homeowners in Orange County Orange County, CA – You may have been watching your friends buy homes recently while you continue to rent. It can be hard to see people getting the opportunity to buy before you. While you’re saving away, it’s encouraging to look at the statistics and realize that you’re not doing too bad. And once you get to where you want to be, you too...[...]

What Is Causing Home Prices to Rise in Orange County?

Link to What Is Causing Home Prices to Rise in Orange County? Home Prices Rebound Orange County, CA – What’s causing home price to rise? We’ve been hearing about the dropping prices of real estate for year upon year. For many people the falling price of property is something that refuses to go away. Negative equity is something that borrowers have feared for years, with the reduction in the value of property even threatening some...[...]

The Impact of the Fiscal Cliff on Interest Rates

Link to The Impact of the Fiscal Cliff on Interest Rates Orange County, CA – We can be thankful that the upheaval of the election is now behind us. In terms of finances, no one likes the uncertainty of a national election, especially Wall Street. But that doesn’t mean that it’s going to be clear sailing from this point on. Financial experts in the market strongly feel that all markets will now be driven by the Fiscal cliff that is...[...]