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Mortgage Rate Update (September 3, 2014)

Conventional mortgage rates (30-year fixed, 15-year fixed) are unchanged from last week’s reading, and at the lowest level in 18 months. The government programs (FHA, USDA, VA) inched up by about 1/4 of a point, but are still very close to 2014′s lowest record.

Read our Market Update column for more on why mortgage rates are so much lower than expected in 2014:


Conventional Loan Programs 

30-year fixed, 15-year fixed, 30-year high balance

Conventional Mortgage Rates (September 3)


Specialty Loan Programs


FHA, USDA, VA Mortgage Rates (September 3)


Manufactured Home Loan Programs

FHA Manufactured, Conventional Manufactured

Manufactured Home Mortgage Rates (September 3)


Jumbo Loan Program

Jumbo ($700,000 loan amount)

Jumbo Mortgage Rates (September 3)

Rates Directly to Your Inbox!

If you would like to receive a more detailed Mortgage Rate report, you can subscribe to our “CCL Rate Tracker.” The CCL Rate Tracker follows 10 loan programs and publishes three rate options closest to 1 point, par, and 1 rebate for each program every two weeks and delivers the results in an email. To sign up, please email [email protected] with the text “Rate Tracker.”

Apply Online Today!

When you register for a Loan Center account, you can submit a loan application online and the sensitive information that you provide will be transmitted securely. Your account also enables you to easily modify your loan application and view the status of your loan. Any questions? Call us at 805.543.LOAN or email us here.

About the Loan Programs:



  • Mortgage rates assume purchase of a singe-family, detached, owner-occupied, residential property.
  • Mortgage rates assume borrower credit score of 760 and a Debt-to-Income ratio of 35%. Rates for conventional loan programs assume a loan-to-value of 80%.
  • Loan amount is $417,000 for all programs (appraised value of $522,000), except for the high balance ($561,200 loan and $722,000 value), and Jumbo ($700,000 loan and $1,000,000 value)
  • Mortgage rates and APR subject to change.
Morro Bay (Harbor 1)

First-Time Buyers Guide to the California Central Coast

As home prices continue continue to rise in San Luis Obispo County (30% over the past 36 months), the remaining “affordable” properties are subject to intense competition among home buyers. First-time buyers, especially, have found the market difficult to navigate.

Continue reading “First-Time Buyers Guide to the California Central Coast” »


Mortgage Matters Radio: August 30 (REPEAT)

We will be airing a repeat of last week’s episode on Mortgage Matters this Labor Day weekend (August 30) from 9 a.m. to 11 a.m.  Tune in to learn more about SLO County’s workforce housing problem – and the steps local groups and taking to fix it. Click here to download for on-the-go use.


Reverse Mortgages – Tough on Your Beneficiaries?

I have a client whose parents had put a reverse mortgage on their home. I have no idea the circumstances of how they decided to put the reverse mortgage on their home. They were trying to provide for themselves as they came into illness. I’m sure their needs were real and the motivations well intended.

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Credit Card (1)

Minimum Credit Standards for Home Loan Qualification

Of all the parts of the mortgage financing process, credit qualification is one of the most misunderstood.

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Mortgage Matters Radio: August 23 (NEW)

Guest: Lenny Grant (Principal, RRM Design). Grant joins the show to talk about the dearth of workforce housing in SLO County, and ongoing community efforts to fix the problem.

Central Coast Lending Soundcloud (full episode downloads). August 23, 2014 (link to episode).



Mortgage Rate Update (August 27, 2014)

To open August 27th, the 30-year fixed has dropped by 1/4 point in price, and is now listed at 4.000% (4.109% APR). More updates:

  • The day’s biggest winner: the FHA and FHA 203k loans and other government programs (USDA, VA). FHA pricing fell over 3/8 of a point, and is now down 7/8 of a point over the past month. This is the lowest we have listed the FHA, USDA, and VA loan programs in 2014.
  • The 15-year fixed was unchanged at 3.000% (3.195% APR). This is the lowest reading on our rate tracker in about 8 weeks.
  • The 30-year high balance dipped to its lowest level in 3 months – 4.125% (4.216% APR) – after dipping another 1/8 of a point in cost.

Read our Market Update column for more on why mortgage rates are so much lower than expected in 2014:

Read more »


What Will Happen When Rates Rise?

Normal Federal Reserve Bank (the Fed) policy is almost here. That’s a great thing for us all. It means that the Fed thinks we’ve recovered enough to move forward with slowly eliminating all of their vastly accommodative monetary policy.

As you know, I feel that without what the Fed did, we simply would not be in the good economic shape we’re in today as a country, and the world for that matter. In many respects, we’re still the world’s economic leaders.

Which interest rates are likely to rise?

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Morro Bay (Rock 2)

Real Estate Market Overview: Are Lending Standards “Too Tight”?

Around the third and fourth weeks of the month, we are treated to a deluge of national real estate data. We learn about general national trends over the preceding months (“construction activity increasing!” “home sales jump!”), and draw conclusion about the relative “health” of the housing market (“outlook improves as inventory rises!”).

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Mortgage Matters 4

Mortgage Matters Radio on KVEC 920 (Aug 23): Lenny Grant, RRM Design Group

Lenny Grant joins Mortgage Matters to talk about the Central Coast’s workforce housing shortage, and the steps that local groups are taking to ameliorate the problem. To learn more about workforce housing, click here.

Read more »