Record Lows Continue for Mortgage Rates

The 30-year fixed mortgage rate fell to a new low of 4.54 percent this week from 4.56 percent last week and an average of 5.25 percent a year ago.

The 15-year fixed loan rate also hit a record low of 4 percent, down from 4.03 percent a week ago and 4.69 percent last year. The five-year adjustable-rate mortgage averaged 3.76 percent, compared to 3.79 percent last week and 4.75 percent a year earlier; and one-year ARMs averaged 3.64 percent, down from 3.7 percent and 4.80 percent, respectively.
Source: The Wall Street Journal, Nathan Becker (07/30/10)

Property Tax Value Notices Have Been Sent Out

If you do not agree with the value of your home listed on your property tax value notice you have until September 15, 2010 to file an Application for Changed Assessment. Go to the link on the right - Reduce Your Property Tax.

5-day loan mod event starts Friday July 16

Chase is having a 5-day event in Costa Mesa to help struggling homeowners who have Chase, EMC or WaMu-serviced mortgages.

The bank says loan advisors will offer counseling for homeowners applying for modifications, and for customers who are current on their mortgages but having a hard time keeping them up. There also will be help with short sales for customers who cannot afford their home or don’t want to stay in it. And those applying for trial modifications will be able to drop off the necessary documents.
More than 50 of Chase’s home loan counselors will be available, according to the news release.
The event, at the Hilton Orange County at 3050 Bristol St., begins Friday and runs through Tuesday, July 20. The hours are 8 a.m. to 8 p.m