Special offer
Richie Alan Naggar, agent & author  (people first...then business Ran Right Realty )

Spam prevention
Rainmaker
1,543,634
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

Jason E. Gordon has been keeping me informed daily. I think it's going to improve soon, pandemics are great for the market historically...fact!

Mar 13, 2020 05:43 PM
Rainer
417,221
Caroline Gerardo
Licensed in 20 states - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

Rates zoomed to all time lows, then lenders started to panic- not enough people to do the bean counting. Everyone increased rates - no conspiracy- I will work 120 hours this next 3 weeks to get them delivered. Rates will dip as soon as doc sets start rolling to notaries. 

GET YOUR LOAN APPLICATION IN AND APPROVED, then wait for the next dive in about 2- 3 weeks. This lasts briefly unless coronavirus does more damage to employees in manufacturing, shipping and stocking. Right now retail, grocery and gas stations booming as people stock up.

Me I live on a ranch with 2 acre vegetable garden. Neighbors already asked if I intend to keep putting my extra produce in baskets by the gate, answer - yes of course.

If it lasts 6 months more economic downturn

Mar 13, 2020 04:26 PM
Rainmaker
634,531
Jason E. Gordon
CMG Mortgage, San Diego, CA - San Diego, CA
Sr Loan Officer, CMA, CMPS, CDLP, CDRE, RCSD, CDPE

Typically "bad news for the economy = good news for mortgage pricing (and vice versa)".  This week was an exception as displayed below.

In a nutshell, the highlighted area to the right of the chart below tells the story of the BRUTAL week we just completed (in regards to mortgage pricing trends).

  • Each candlestick summarizes the market movement for one business day (the most recent day is all the way to the right of the chart)
  • This particular chart summarizes the market activity for the most recent 3 Months
  • A “Green” Candlestick means the market improved overall for that business day
  • A “Red” Candlestick means the market worsened overall for that business day
  • The “Higher on the Chart” that the Candlestick appears, the BETTER it is for you
  • The “Lower on the Chart” that the Candlestick appears, the WORSE it is for you

Ratewatch

It will get better within the next 1-2 weeks.  I would bet vital organs in my body on it! 

Mar 13, 2020 05:48 PM
Rainmaker
5,772,575
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Richie,

We are all in this together, and the Fed reserve is stepping up.  My advice  to you is to start focusing on what is right than what is wrong. I see lots of wonderful moments.  Stay in the present, appreciate the present, it is all we have...every moment is precious...A

Mar 13, 2020 03:22 PM
Rainmaker
2,390,577
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

I don't know this Richie Alan Naggar . I've been closing loans like a mad man, someone is buying them.

Mar 13, 2020 06:52 PM
Rainmaker
1,291,481
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

I know that I've never seen anything like this past week, Richie Alan Naggar ... it's been crazy.  Old truths no longer hold water.  Up is down and down is up.  And I know that I'm hoping it all settles down soon ...

Gene

Mar 13, 2020 03:48 PM
Rainmaker
763,883
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

Interest Rates are low and it's a great time to refinance.

Mar 14, 2020 03:04 PM
Ambassador
3,345,091
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

This too shall pass. 

Mar 14, 2020 11:39 AM
Rainmaker
7,835,900
Roy Kelley
Retired - Gaithersburg, MD

Smart consumers will take advantage of the very low mortgage interest rates.

Mar 14, 2020 08:56 AM
Rainmaker
3,416,038
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

The best advice i got was to get my buyers approved, then wait to rate falls again to lock it in

Mar 14, 2020 06:09 AM
Rainmaker
5,216,387
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

I know not as those in the know share my vision. 

Mar 14, 2020 04:43 AM
Rainmaker
1,197,072
Peter Mohylsky, Beach Expert
PMI. Destin - Miramar Beach, FL
Call me at 850-517-7098

My lender is flooded with refinances,  expect delays.

Mar 13, 2020 07:26 PM