Good Monday morning

Again a week filled with sports, politics and Real Estate.
I would like to start off with announcing that immigrating from The Netherlands  after 8 great years ago, I finally became a United States Citizen.
I could not be more proud to be part of this country. After sworn in last week I was able to vote for the first time of my life..
So, please go out there and do what I did and VOTE!

We also had some positive news from Canada, after a steep drop of the Canadian dollar last week,
it started making it’s comeback by the second part of the week.
We are expecting the dollar to rise even more by the beginning of this week and start stabilizing by next week until January.

With that said the month of November is also the start of the season here in the desert.
Snowbirds are returning, the golf communities are opening their freshly seeded courses and
 the temperatures have dropped into the eighty’s. This also means  more housing inventory to choose from.

To have direct access to these properties:

If you are considering the sale of your home you can receive an e-mail analysis that will
give you a good indication of your homes current market value at

Mortgage Market update!

A quick update on loan programs.  See the flyers attached. Rate Sheet Update Attached. Please call with questions.

Agency Jumbo Loans : Loans that are between $417k -500k... your clients have 2 weeks to lock their loans in to get
 the benefit of conforming jumbo pricing which have lower interest rates than loan amount over $500,000.
An agency jumbo loan was part of the economic stimulus program rolled out by the Government in February 2008
and is set to expire at the beginning of 2009.  Loans must be locked by November 13th and closed by year end.

Cal- HFA (Chaffa) still allows 100 percent financing with a 680 fico or better if you meet the low income requirements.

Calsters - teacher program.  3% down 80% 1st and 17% 2nd with no mortgage insurance and payments are deferred on the 2nd mortgage for 5 years
FHA is still my favorite program because it has no income or property eligibility restrictions and is the most lenient for underwriting guidelines. 
Current down is 3%; however it will change January 1, 2009 to 3.5%.

Canadian/ Foreign Nationals: 30% down with a minimum loan amount of $200,000.  Full Documentation with an International
Credit Report and reserves with the servicing bank.



30 yr fixed mtg 6.41% 6.08%
15 yr fixed mtg 6.06% 5.71%
5/1 ARM 6.09% 6.01%
30 yr fixed jumbo mtg 7.63% 7.52%
5/1 jumbo ARM 6.27% 6.23%

1 Canadian Dollar = 0.83946   U.S. dollars (Today)
1 Canadian Dollar = 0.74531  U.S. dollars  (Last Week)


Have a Great Week!

Rob Zwemmer