Rates edged up as the market appears to be concerned again about the record levels of debt that will be coming to market this year. Traders are uncertain that the market can absorb all the debt.
Housing inventory in California is now at only 6.5 months’ supply, down from 15.3 months a year ago. This is good news for the Real Estate market overall, and more evidence that the recent home-buying surge really is soaking up the excess inventory that so concerned everyone a year ago.
We want to remind everyone that investors can finance up to ten properties again, as Fannie Mae lifted its four-property restriction. The pricing does not change for an investor if he or she purchases more than four properties. Currently, the rate for the purchase of an investment property is approximately 5.375% at a cost of one point. A 25% down payment is required, however, to garner that pricing.
Founder/Broker | JVM Lending
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