• Mortgage rates hit 5% for the first time since early 2011

    By Escala Financial on April 20, 2022

    Mortgage rates in the U.S. surged, reaching 5% for the first time in more than a decade.   The average for a 30-year loan jumped from 4.72% last week, Freddie Mac said in a statement Thursday. The last time rates hit 5% was in February 2011.   Borrowing costs have been soaring since the start of the year, tracking the

  • Prepare for a Busy Housing Market This Spring

    By Escala Financial on April 19, 2022

    Main Takeaways for Buyers Low housing inventory and high demand will create a strong seller’s market, but not as intense as the peak of 2021. Home prices are expected to continue rising, but at a slower pace than last year. To avoid house buying FOMO (fear of missing out) and panic buying, know what you can afford and stick to

  • 2021 home-price jumps: 19.2% in LA-Orange County, 19.8% nationally (says Case-Shiller)

    By Escala Financial on April 18, 2022

    L.A.-O.C. prices rose 10% increase in 2020 and a 2.6% in 2019 Home prices rose a record-setting 18.8% nationally and 19.2% in Los Angeles and Orange counties, according to one widely watching benchmark. The S&P CoreLogic Case-Shiller index of national property values continued to show house hunters will to pay up for housing in the pandemic era. The national gain

  • Looking ahead for the non-QM market?

    By Escala Financial on April 16, 2022

    In recent weeks, a number of lenders and software providers have launched new products to serve the mortgage lending segments outside of the conforming market, which are expecting a strong year, even if it’s not quite as stellar as 2021. BofA Securities predicted $190 billion of gross residential mortgage-backed securities issuance this year, “mostly unchanged” from 2021’s $202 billion in

  • Mortgage Rates Remain Low

    By Escala Financial on December 5, 2020

    As the end of the year approaches, home sales appear to be curtailing a bit in a typical seasonal effect while mortgage rates remain low. Some borrowers who refinanced in early 2020 are looking to start or wrap up their second refinance in the last twelve months. If you are in the low 3% or higher, contact Escala Financial for