Good Monday Morning,

 

Just got back from vacation ! and happy to be back !
Home Sales has not slowed down here in the Palm Springs Area during the summer months.  So far we have seen first time home buyers,  and investors buying up the bargains.

short sale Sales and Foreclosures are still dominating the the market out here.
Some of these foreclosure are still selling for 50-60% on the dollar.
To have direct access to these properties: http://www.FindMyDesertHome.com


If you are considering the sale of your home you can receive an e-mail analysis that will
give you a good indication of your homes current market value at www.DesertCMA.com.

Mortgage Market update!

Rates closed the week about .250% better across the board, and boy did we need that rally. Rates are still near the highs of the year.


Canadian Dollar = 0.944287 U.S. 

 

CONFORMING LOANS                   JUMBO LOANS  
$75,000 - $417,000                         $417,001 - $6,000,000
  
30YR.       6.500%  1 POINT           30YR.  6.625%      1 POINT
FIXED                                                  FIXED  
30 YR.          6.000%  1 POINT        15 YR.        6.625%     1 POINT
FHA                                                      FIXED  
3 YR FIX   5.875%  1 POINT             3 YR FIX       6.375%      1 POINT
ARM                                                      ARM IO  
5 YR FIX  5.875%  1 POINT               5 YR FIX      6.250%     1 POINT
ARM                                                       ARM IO  
7 YR FIX  6.250%  1 POINT               7 YR FIX        6.375%  1 POINT
ARM                                                       ARM IO  
15 YR  6.500%  1 POINT                   5 YR ARM        7.750%  1 POINT
FIXED                                                    Pay Option  
        

 

Have An Awesome Week!

Rob Zwemmer