CCL Market Update: Mortgage Applications, Consumer Price Index, FOMC Meeting Announcement, Fed Chair Press Conference, Jobless Claims, Housing Market Index, Housing Starts, Consumer Sentiment

Mortgage Applications

Purchase applications for home mortgages fell a seasonally adjusted 3 percent in the week of June 9th. Though this decline is a result for the heavy adjustments made for the Memorial Day holiday in the prior week. The unadjusted purchase index increased 19 percent from the week prior to a level 8 percent higher […]

By |June 19th, 2017|CCL Market Updates|0 Comments

CCL Market Update: US Consumer Spending Measure, US ECI, JOLTS, Mortgage Applications, US Job Creation Index, Jobless Claims

Gallup US Consumer Spending Measure

May average spending levels continued to be relatively healthy in at $104, just below the April average of $107. May was the fourth consecutive month that Americans’ spending averaged $100 or higher. Since 2009, the majority of May’s spending average has been within $2 of the average for the entire year; […]

By |June 12th, 2017|Uncategorized|0 Comments

CCL Market Update: Personal Income and Outlays, S&P Case-Shiller HPI, Consumer Confidence, Mortgage Applications, Pending Home Sales, Beige Book, Challenger Job-Cut Report, Construction Spending, Good Jobs Rate, Employment Situation

Personal Income and Outlays              

Compared to the first quarter, April was mostly a favorable month for the consumer who benefited from strong wage gains, kept money in the bank, and was an active shopper. Consumer spending opened the second quarter at 0.4 percent as predicted, with strength in durables spending; including vehicle’s offsetting a subpar […]

By |June 5th, 2017|CCL Market Updates|0 Comments

CCL Market Update: New Home Sales, Mortgage Applications ,FHFA Price Index, Existing Home Sales, FOMC Minutes, Jobless Claims, GDP, Consumer Sentiment

New Home Sales

In a mixed report, new home sales dropped 11.4 percent in April to a much lower than anticipated rate of 469,000. The offset is the 40,000 upward revisions to March and February now at 642,000 and 607,000 respectively. There is major volatility in this report, making a three month average essential to evaluate […]

By |May 29th, 2017|CCL Market Updates|0 Comments

2017 USDA Income Limits Update

The income limits for the USDA Single Family Housing Guaranteed Loan Program were recently updated and increased for new mortgages originated in 2017.  The maximum eligible income for this loan program is defined as the greater of 115% of the US median family income or 115% of the average of the state-wide and state non-metro […]

By |May 24th, 2017|Loan Program News|0 Comments

New Guidelines for SFR’s with Manufactured Homes

Central Coast Lending has expanded their underwriting guidelines for properties with a stick-built single family residence (SFR) AND a manufactured home on the same parcel; the once impossible scenario to finance now has three loan options!

First Option: Stick-built SFR and PERMANENTLY affixed manufactured home on the same property.

Appraiser must support it is common to […]

By |May 24th, 2017|Loan Program News|0 Comments

CCL Market Update: Housing Market Index, Housing Start, Mortgage Applications, Jobless Claims

Housing Market Index

New home sales have been leading the home market with home builders reporting strong activity this month and predict even better times ahead. The housing market index topped economists’ predictions In May, rising 2 points to a level of 70. Current sales are also up 2 points to 76 with 6 month sales […]

By |May 22nd, 2017|CCL Market Updates|0 Comments

2017 First Quarter: South County

1st Quarter
South County

Buellton
Nipomo
Santa Maria
Solvang

The South County not only represents the region of the Central Coast with the highest median home price at $884,975, but also has the region with the lowest amount of total sales. This suggests there is a correlation between price and number of sales; in this instance the […]

By |May 18th, 2017|SLO County Real Estate|0 Comments

2017 First Quarter: North County

1st Quarter 2017
North County

Atascadero
Paso Robles
Santa Margarita
Tempelton

The North County is the city with the most amount of home sales with 283 combined sales. It also has the lowest median home price, though the median home price did increase by 38% from the first quarter to 2016 to the first three months of […]

By |May 18th, 2017|SLO County Real Estate|0 Comments

2017 First Quarter: Scenic Coast

1st Quarter
Scenic Coast

Cambria
Cayucos
Los Osos
Morro Bay

The Scenic Coast has the lowest amount of cumulative days a home sits on the market, meaning the market is hot on the Scenic Coast and homes are selling faster than any of the cities on the Central Coast.

90 Total Number of Sales (2017) vs. 102 […]

By |May 17th, 2017|SLO County Real Estate|0 Comments