DIRECT MORTGAGE
(800) 309-0585

DIRECT MORTGAGE
(800) 309-0585

Wednesday, January 29, 2020
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Market Commentary

Updated on January 28, 2020 10:34:26 AM EST

Yesterday’s 5-year Treasury Note auction was uneventful. The benchmarks showed an average level of interest in the securities and the bond market had little reaction to the results. Accordingly, it is safe to expect the same type of results and reaction from today’s 7-year Note auction. Results will be posted at 1:00 PM ET today. If they show an overly strong demand from investors, we could see a slight positive reaction in bonds and mortgage pricing later today.

Decembers Durable Goods Orders data was released at 8:30 AM ET this morning, revealing a stronger than expected 2.4% rise in new orders for big-ticket products. While the headline number is bad news for bonds and rates, there are several other factors that make the data favorable. This data is known to be volatile from month to month, so the size of the variance from forecasts isn’t nearly as relevant as it would be in other reports. More importantly though, a secondary reading that excludes more costly and volatile transportation-related orders, such as new airplanes, came in weaker than expected. Another reading that focuses on business spending (instead of military and government) showed a 0.9% decline. The details within the report allow us to consider it good news for bonds and mortgage pricing.

Januarys Consumer Confidence Index (CCI) was also posted this morning. The Conference Board announced a reading of 131.6 that exceeded expectations and was an increase from December’s revised 128.2. The stronger reading is bad news for bonds and mortgage rates because higher levels of consumer confidence usually translates into stronger consumer spending that fuels economic growth. If consumers are feeling better about their own financial and employment situations, they are more apt to make a large purchase in the near future.

Tomorrow does not have any relevant economic data scheduled, but we will get the results of this year’s first FOMC meeting at 2:00 PM ET. There is a wide consensus that Fed Chair Powell and friends will not make a change to key short-term interest rates this week. It is more likely that the post-meeting statement will be the cause of any afternoon volatility. It is worth noting that every FOMC meeting is now followed by a press conference with Chairman Powell. Traders will be looking for hints as to when the next rate move is likely to come and if the Fed plans on making changes to their balance sheet program. It will be an afternoon event that could have a big impact on the financial and mortgage markets if there are any surprises.

 ©Mortgage Commentary 2020

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CPU Refinancing Playa Vista

Hi all,

I have been asked over the past 2 years about mortgage refinancing on a CPU in Playa Vista.  I was introduced to CPU condo's in Playa Vista in 2017. 

The refinancing of Controlled Price Units on condo's can be complex.  I have navigated the waters with over 2 dozen successful CPU refinances on condo's in Playa Vista.

I have been able to use the current market value, not the resale value, to help owners eliminate mortgage insurance.

Here are some yelp reviews:  (google: CPU Refinance Yelp)

"I just completed a refinance with Dave after he was recommended by several neighbors. Purchased a condo in 2017 and had to initially go with the lender that was recommended by the builder. I was paying PMI, which would be required for a few more years.

Dave was able to help me with a refinance and the process only took 2 weeks. He got rid of the PMI. As a result, monthly payment has decreased
saving me thousands in the long run."

Dave LaRose helped us to refinance our mortgage in Playa Vista this year. He got us out of PMI and lowered our monthly payments by over $500. He has taken the time to really know the ins and outs of the mortgage business and even complicated rules and regulations of CPU purchases. Highly recommend him and his team!

I don't even know where to start with reviewing Dave. He is an incredibly kind and intelligent man and did a wonderful job helping us refinance our mortgage on a CPU! From the first phone call, Dave was very informative and made sure both my husband and I understood every step. He sends over a quick text right before every docusign and is available for questions 24/7. He had us locked in at a better rate than we already had and with some changes in the market and a little time to spare before closing, he got us an even LOWER rate! We did not even have to ask him to do this. He genuinely wants his clients to get the best deal possible and works tirelessly to make sure that happens. We have already recommended him to several of our neighbors and will continue to do so. He made the refinance process stress-free and dare I say it... EASY! From now on, Dave is our one and only broker for all of our mortgage needs!

 

If you are looking to refinance your CPU, please reach out.

Dave LaRose

Direct Mortgage Source, Inc.

800-309-0585 ext. 101


 

CA-BRE # 01357986 NMLS #238291
16955 Via Del Campo #110 | San Diego, CA 92127
(800) 309-0585  Ext. 101 | (858) 487-7179  Ext. 11   | Fax: (800) 834-0799 

This material is not from HUD or FHA and has not been approved by HUD or a government agency.

 

CPU Refinancing Playa Vista

Hi all,

I have been asked over the past 2 years about mortgage refinancing on a CPU in Playa Vista.  I was introduced to CPU condo's in Playa Vista in 2017. 

The refinancing of Controlled Price Units on condo's can be complex.  I have navigated the waters with over 2 dozen successful CPU refinances on condo's in Playa Vista.

I have been able to use the current market value, not the resale value, to help owners eliminate mortgage insurance.

Here are some yelp reviews:  (google: CPU Refinance Yelp)

"I just completed a refinance with Dave after he was recommended by several neighbors. Purchased a condo in 2017 and had to initially go with the lender that was recommended by the builder. I was paying PMI, which would be required for a few more years.

Dave was able to help me with a refinance and the process only took 2 weeks. He got rid of the PMI. As a result, monthly payment has decreased
saving me thousands in the long run."

Dave LaRose helped us to refinance our mortgage in Playa Vista this year. He got us out of PMI and lowered our monthly payments by over $500. He has taken the time to really know the ins and outs of the mortgage business and even complicated rules and regulations of CPU purchases. Highly recommend him and his team!

I don't even know where to start with reviewing Dave. He is an incredibly kind and intelligent man and did a wonderful job helping us refinance our mortgage on a CPU! From the first phone call, Dave was very informative and made sure both my husband and I understood every step. He sends over a quick text right before every docusign and is available for questions 24/7. He had us locked in at a better rate than we already had and with some changes in the market and a little time to spare before closing, he got us an even LOWER rate! We did not even have to ask him to do this. He genuinely wants his clients to get the best deal possible and works tirelessly to make sure that happens. We have already recommended him to several of our neighbors and will continue to do so. He made the refinance process stress-free and dare I say it... EASY! From now on, Dave is our one and only broker for all of our mortgage needs!

 

If you are looking to refinance your CPU, please reach out.

Dave LaRose

Direct Mortgage Source, Inc.

800-309-0585 ext. 101


 

CA-BRE # 01357986 NMLS #238291
16955 Via Del Campo #110 | San Diego, CA 92127
(800) 309-0585  Ext. 101 | (858) 487-7179  Ext. 11   | Fax: (800) 834-0799 

This material is not from HUD or FHA and has not been approved by HUD or a government agency.