Craig Calentino Mortgage Consultant

10/10/2024

Go Padres!

09/27/2024

Mortgage rates dipped slightly this week to 6.08%, encouraging many buyers and sellers to return to the market.

08/21/2024

Home insurance rates have skyrocketed due to climate change and rising construction costs, and some homeowners are going without coverage.

08/06/2024

Finally some good news on mortgage rates! We've seen them drop nicely the past week or so. The Federal Reserve Board will VERY likely drop rates .25% or .50% at their next meeting in September. That hopefully will be the beginning of a campaign to get rates back down into the low 5%'s or high 4%'s.

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06/07/2024

A sign of the times in CA.

California experienced a mass exodus as residents left for less expensive states. But many are also moving to surrounding areas.

05/08/2024

We all know that Southern California is one of the hottest markets in the country. The cause is the super low inventory of homes on the market due to so many homeowners having a rate in the 2%'s or 3%'s. Most of those people aren't moving anytime soon.

While home prices in much of the U.S. have finally leveled off or even dipped a bit compared with last year, certain areas are bucking that trend with rising real estate costs that just won't quit.

04/29/2024

Homeowners insurance costs have gone crazy, especially in California, mostly due to the wildfires.

Insurers are increasing premiums for homeowners, dropping longtime customers, and exiting risky parts of the country as climate risks grow.

04/24/2024

Why have mortgage rates not come down???? Simple: inflation. The many rate hikes by the Federal Reserve Board have not reduced inflation nearly as much as they anticipated. At the beginning of the year the common thought was that the Fed would reduce rates 4 or 5 times this year. Then it dropped to 3 , then 2, then 1, and now there may not be a rate drop at all in 2024. Inflation currently sits at about 3.50% and the Fed wants it to be closer to 2%, so we are a ways off. Therefore it looks like we're going to have to wait for some mortgage rate relief.