Our weekly mortgage rate calculation gives you a snapshot of rate movement across the industry. We select the best pricing for 10 loan programs, and publish the rate that is closest to 1 point in cost. (Learn more about mortgage pricing here). To obtain a 1 point loan, the borrower pays 1% of the total loan amount.
Pending home sales fell in October for the fifth straight month, dropping the sales pace to its lowest point since December of 2012. The October government shutdown is partially to blame for the figures, but “structural issues” have primarily caused the drop. Lawrence Yun, chief economist for the The National Association of Realtors, listed job creation, higher mortgage rates, and limited inventory as “headwinds” working against sales figures moving into 2014.
The good news is that the housing market is working through each of these issues slowly but surely.
We are excited to welcome Eric Foronjy from Hague Quality Water back on Mortgage Matters this Saturday (Nov.23). Eric will be talking about chemicals and the local water supply. Tune in to learn what chemicals are used to treat your tap water and find out if it is completely safe for consumption.
The FHA loan is known as an especially useful program for first-time, middle-income home buyers. The USDA loan isn’t known quite as well, but it is also a great option for new buyers with a moderate income. Designed specifically to promote development in “rural” areas, much of SLO County qualifies for the beneficial terms of USDA financing. LEARN MORE.
Follow the link below to see the mortgage rate movement for November 19. Rates continue to tick up in November. The trend began after the October employment report came out much better than expected. For more on the real estate market, please see our weekly rate column: “Mortgage Rates Rise: Employment Data Influences Rate Movement“.
Facebook was born in a dorm room at Harvard, the founder of FedEx wrote about the hypothetical overnight delivery service for a term paper at Yale, and Google, originally named BackRub, got started at Stanford by two computer science students.
What’s the next big idea going to be?
The Cal Poly Center for Innovation and Entrepreneurship (CIE) hosts a multitude of events geared towards cultivating the innovative spirit on the Central Coast.
The CIE is four-year-old project started by two Cal Poly entrepreneurship professors that aims to give fledgling ideas a solid place to take off.
Programs, Events, & Media coordinator Chelsea Brown said CIE is the place to go to if someone is looking to start a business or market an invention.
“We’re here as a resource for all students and the SLO community,” Brown said.
The CIE has a whole slew of projects. SLO HotHouse is the most well-known; with offices downtown, the Hothouse provides office space for the CIE as well as space for budding businesses. The HotHouse includes the Accelerator program, which is specifically geared towards Cal Poly students and recent grads — the program provides startup businesses or ideas $7,500, among other resources, for a chance to get off the ground during the summer. Once fall rolls around, some of those startups graduate to the Incubator program, which means they receive support and office space in the HotHouse downtown.
In addition to the Accelerator, Incubator and many other programs, the CIE hosts six forums a year, which allow for a deeper connection between the business community and Cal Poly.
“Each are focused on hot topics,” Brown said. “The first one this year was on media, the next one is on commercialization of technologies.”
The next forum, titled Drivers of Innovation: From Invention to Commercialization, will begin with an ice breaker event where the featured inventors get to showcase their inventions, and not only have discussion about what their product does, but about how and where it could be marketed.
Some of the inventions up for discussion at the event is include FarmBot, a precision farming machine that works like a 3-D printer with seed injectors and watering nozzles, and Otto, a surface-climbing robot that can carry heavy loads.
“When you get a diverse group of people in a room you give the inventor an opportunity to see a place or market the product could go that they might have not seen themselves,” Brown said. “It gives them a way to collaborate with people they wouldn’t normally be in a room with.”
After the icebreaker, the forum will transition into a panel discussion on how to best move the inventions to market.
The panel participants have experience marketing their own products or others’ products and includes: Cal Poly Biological Sciences Department Chair Christopher Kitts; Christine Tovee, the Chief Technology Officer of EADS North America; Brian Riley, recent Cal Poly graduate and co-founder and CEO of Slidepad Technologies; and Joe O’Connor, a product and marketing guru.
The forum is Wednesday, Nov. 20 from 4:30 p.m. to 7 p.m. in the Pavilion of the Cal Poly Performing Arts Center.
The event is free and the public is welcome. Those who wish to attend can register beforehand.
With Thanksgiving and the December / January holiday season on the horizon, remember to take a few moments for yourself every once in awhile. Lucky for all of us, the Central Coast provides any number of beautiful places to contemplate our relative (in)sanity. Here are a few, courtesy of Holly Dickson: