California Home Loan Purchase & Refinance Low Mortgage Rates.
Get Qualified For A Home Loan Directly!
Home FREE RATE QUOTE APPLY HERE Rent vs Buy Calc Borrower Login Mortgage Blog

Kemmer's call

The economy continued to show strong business activity and growth in employment which drove the 30-year fixed mortgage rate to a seven year high of 4.94 percent  on national average– WE are still at 4.75%

Higher mortgage rates have led to a slowdown in national home price growth, and  the price deceleration has been primarily concentrated in affluent coastal markets in California.

If you are in an adjustable rate mortgage  Lock in a fixed rate now.!


Posted by Kemmer Daniel Matteson on November 14th, 2018 12:40 PMLeave a Comment

Higher mortgage rates have led to a decline in home sales this year, the weakness has been effected more  expensive segments  along with the limitations on maximum interest and property tax deductions.
The California Association of Realtors (CAR) released its’ housing affordability index for the second quarter of 2018.recently and the combination of increasing housing prices and rising mortgage rates have reduced the home buying affordability in the state to the lowest level in 10-years.
This obviously would mean a drop in price eventually as the market dries up of qualified borrowers..

Posted by Kemmer Daniel Matteson on November 7th, 2018 11:09 AMLeave a Comment

July 27th, 2018 3:03 PM
Mortgage rates moved up slightly over the past week to their highest level since June.

Sales of new homes are slowing and unsold inventory is rising for the first time in three years. 

With mortgage rates increasing affordability is becoming an issue and we may see a drop in the market valuations in spite of a growing economy!


Posted by Kemmer Daniel Matteson on July 27th, 2018 3:03 PMLeave a Comment

May 23rd, 2018 11:44 AM

After leveling off recent weeks, mortgage rates move up to reach a new high last seen seven years ago.

The 30-year fixed mortgage rate edged up to 4.61 percent, which matches the highest level since May 19, 2011.

Consumer spending and higher commodity prices caused bond markets to increase and led to higher mortgage rates over the past week.

While this year’s higher mortgage rates have not caused much of an effect in the strong demand for buying a home seen in most markets, inflationary pressures and the prospect of rates approaching 5 percent could begin to hit the valuation of home prices.

Many people are refinancing to convert their adjustable rate mortgage to a fixed wile rates are still low, get cash out for hone improvements to there existing homes or paying off debt to free up cash flow for other investments

I would be happy to discuss any and all options or concerns  you may have.

OR Price your own loan   http://www.firstcaliforniafinancial.com/CaliforniaMortgageRateSheet  and give me a call for a custom quote..


Posted by Kemmer Daniel Matteson on May 23rd, 2018 11:44 AMLeave a Comment

April 24th, 2018 8:52 AM

Long-term U.S... government bond yields topped 3% for the first time in more than four years The 10-year yield is a barometer that influences borrowing costs for consumers, corporations and state and local governments. Mortgage rates are tied to this and have reached almost 4.5%  see this  article from Government backed funding source. http://www.freddiemac.com/pmms/ great graphs.

My concern is that the Home affordability index will lesson with higher rates = higher payments and the housing values will slow if not even drop in value. This could trigger another financial situation as so much of the economy is tied to housing.

Many people are refinancing to get cash out for improvements to there existing homes rather than buying new ones or paying off debt to free up cash flow for other investments or simply converting there adjustable rate mortgage to a fixed wile rates are still low.

I would be happy to discuss any and all options or concerns  you may have.

OR Price your own loan   http://www.firstcaliforniafinancial.com/CaliforniaMortgageRateSheet  and give me a call for a custom quote..


Posted by Kemmer Daniel Matteson on April 24th, 2018 8:52 AMLeave a Comment

November 16th, 2017 8:40 AM

Posted by Kemmer Daniel Matteson on November 16th, 2017 8:40 AMLeave a Comment

January 22nd, 2015 4:27 PM

California mortgage rates hit new lows today. First California Financial specializes in only California clients and our rates are the lowest in almost two years since the spike up. This will not last as the stock market volatility will settle down and fund will pull out of mortgage market and rates will go up.

With the Federal government poised to increase rates new spring NOW is the time to get out of your adjustable rate mortgages and lock into a fixed rate.  Go to our website www.firstcaliforniafinancial.com and see the rate graph for 1 year and two year California rates.  Then go to our free rate quote http://www.firstcaliforniafinancial.com/CaliforniaMortgageRateSheet for custom pricing.

We will probably never see California rates this low again this is your opportunity to lock into a great deal. Get out of that adjustable rate loan or combine you first and second into a new single fixed rate loan.


Posted by Kemmer Daniel Matteson on January 22nd, 2015 4:27 PMLeave a Comment

November 17th, 2014 2:04 PM

The Federal Banking reserve chairman ended the quantitative easing program, which had the government buying Trillions of bonds. This was to create a large demand to keep prices down. California mortgage rates are now on the rise and will continue to rise.

If you are looking to refinance your home loan in California now is the time to see what you qualify for and what mortgage refinance programs are available to you as a homeowner in California.

So with the demand now diminished, prices will go up so in other words mortgage interest rates will rise up as they are closely associated with bonds. While the federal reserve rate remaining at historical lows, as the economy grows they will have to raise the rates and mortgage rates will again rise, especially the adjustable rates tied to those rates/indexes.

It is important if you are going to remain in your home and have an adjustable rate mortgage to know what the consequences of holding on the the low rate you have.

What is your index and Margin is the first question you should know. Libor and monthly index's are the first to go up and have the highest margins or higher rates. What is the maximum your capped out rate you can go to? This is the highest rate you mortgage can go to and what is the maximum it can go up per year. Many of these adjustable loans can go up 2% a year and you could find yourself having a much higher payment in a short time.

It is always difficult to trade up to a fixed rate.. If adjustable rate mortgages had the same rates as fixed no one would take them!
So locking in a fixed rate is going to be at a higher rate than the variable rate loan.

So the decision has to be made with the time frame of ownership you have to stay in the home. It is always better to convert to a fixed when the fixed rates are lower obviously than higher.

With the certainty of rates going up and fixed rates still at very low levels this is the time to convert to a fixed, if you are keeping your home. 

Many companies try to sell you on no cost loans at higher rates, but it is possible to buy down the interest rate and thus the payment to keep your new payment closed to what you are currently budgeted.

Give me a call and I can work out several scenarios. /options that will give you peace of mind and continual affordable ownership. 


Posted by Kemmer Daniel Matteson on November 17th, 2014 2:04 PMLeave a Comment