Rising interest rates continue to take a toll on mortgage applications, and now maybe a bigger threat over the housing recovery. diana has the details for us. reporter: that’s right, bill. rising rates continue to turn more borrowers away. mortgage applications fell 4% last week from the previous week as the rate on the 30-year fixed rose yet again. take a look. applications to refinance down 4.4% to a two-year low.
While many lenders already use the fully-indexed rate to approve borrowers, it’s not a standard used throughout the industry. Some lenders are approving borrowers with a rate that may be slightly higher than the starter rate but less than the fully-indexed rate, says Mark Goldman, senior loan officer with C2 Financial Corp, a San Diego-based mortgage brokerage firm.
Mark Goldman, a California mortgage broker and a lecturer at the Corky McMillin Real Estate Center at San Diego State University, said Ms. Crawford’s claim is common.
“The egg continues through the snake; we’ve passed the bulge,” said Mark Goldman, an instructor at the Corky McMillin Center for Real Estate at San Diego State University.
“As people perceive that prices have bottomed, they’re coming back into the market,” says Mark Goldman, real estate expert at San Diego State University.
San Diego State Real Estate Lecturer Mark Goldman said home prices are lining up with the cost of actually living in the house and it’s a good time to jump into the market.
“For people who are planning to live in their homes for three or five years or even longer, it’s a great time to buy,” he said. “Prices are good they’re heading up.”
San Diego State real estate lecturer, Mark Goldman, talks about the real estate inventory in San Diego.
San Diego’s housing market has bottomed and has experienced modest sustainable growth.
That’s according to Mark Goldman at the SDSU School of Business. His perspective follows Tuesday’s news that Goldman Sachs is seeing signs of a “strong” housing recovery.
Mark Goldman, a senior loan officer with C2 Financial Corp., a San Diego-based mortgage brokerage firm, says the most affordable mortgages are given to borrowers who have at least a 740 FICO score, up from 680 in 2007.
Mark Goldman predicts that we are at, near, or recently passed the bottom.