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Mortgage Rate Update (January 28, 2015)

For the week of January 26 through January 30

Conv. Rates 1.28

Government Loan Programs

Spec. Rates 1.28

There is not much movement in the mortgage rates this week. Although we’ve seen a slight increase in rates for 30-year High Balance and 30-year FHA 203k loans, most of the rate programs are keeping at levels similar to last week. Buyers can afford more homes, and existing owners may be able to refinance, lower their monthly payment, and / or save thousands of interest. Take advantage of these rates while they remain low! Give us a call at 805.543.LOAN for a free, customized rate quote!

Freddie Mac Yearly 1.28 30-Year Fixed (History)


Calculation Notes

  • 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
  • 30-year fixed, 15-year fixed, 30-year high balance, Manufactured, Jumbo
  • FHA, FHA 203k, Manufactured, USDA, VA

Mortgage Matters Radio: January 17 (’15)

Guest: Wes Burk (Patterson Realty).

Central Coast Lending SoundCloud (full episode downloads). January 17, 2015 (link to full episode).


Mortgage Matters Radio: January 10 (NEW)

Guest: None.

Central Coast Lending Soundcloud (full episode downloads). January 10, 2015 (link to episode).


How Much Will You Make During Your Career? Find Out Here

David Cryden

DWC Photo 3 6 7 13Blakeslee & Blakeslee 
Co-Owner, Vice President & Certified Financial Planner

Have you ever wondered what the value of your working career might be if you could calculate it? Here’s a simple tool I found online which can help you make that calculation. It estimates the value of your work over the length of your career. It’ll certainly give you valuable information that can be useful when considering your past, future, and financial plans.

Knowing the value of your working career can also be utilized to help you determine if you want to insure those future earnings. The insurance most people use to protect their earning power is disability insurance.

The tool can also be useful to a retiree who may be considering the amount of long term care insurance they may need.

Here’s a link to the website:  Career Earnings Calculator

Please don’t hesitate to write if you have any questions.

See More From David Cryden

David Cryden is Co-Owner, Vice President, Certified Financial Planner™ at Blakeslee & Blakeslee, a financial planning and investment company based in San Luis Obispo. Reach him by email ([email protected]) or phone (805.544.PLAN). David works out of the home office in San Luis Obispo. Member FINRA. Member SIPC. 


VA Streamline Refinance (IRRRL) in San Luis Obispo County

VA mortgage holders: drop your interest rate and monthly payment with minimum hassle!

Central Coast Lending offers VA mortgage holders the ability to refinance their VA mortgage to a lower interest rate with minimal documentation. The lower rate can help the homeowner reduce their monthly mortgage payment and decrease the amount of interest paid over the life of the loan.

CA and USA Flags

To put it bluntly, this is the simplest kind of loan you can find on the market.

The VA-backed streamlined refinance product is called the Interest Rate Reduction Refinancing Loan (IRRRL), and allows vets to drop their VA mortgage rate WITHOUT a new appraisal or credit underwriting process.

The loan’s structure provides additional shortcuts. Since the veteran must already have received their certificate of eligibility (COE) to take out the initial VA loan, repeat COE documentation is not required.

The IRRRL only works on properties that were purchased using a VA loan under the veteran’s VA Loan eligibility. The initial entitlement used by the veteran is simply reused, and the borrower must only prove that he/she previously occupied the home.

Once qualified, the veteran must complete the streamline refinance by obtaining a lower mortgage rate. The veteran may also refinance an adjustable rate mortgage (ARM) to fixed at any time – even when the fixed rate is higher.

The funding fee for the VA loan is just 0.5%. A loan of $100,000, for example, would incur a $500 fee.

Give us a call (805.543.LOAN) or email (LINK) with any questions!


Central Coast Lending is a California mortgage broker and direct lender based on the Central Coast of California in San Luis Obispo County. Call us today at 805.543.LOAN or email us here to set up a free pre qualification. We are The Mortgage Experts: ask us anything!

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Central Coast Lending Offices to Close Monday, February 17

Our offices will be closed on Monday, February 17, and will reopen for normal business hours on Tuesday, February 18.

Bishops Peak

The Housing Market in 2014: Predictions From Around the Web

The median sales price for single-family homes rose by about 14% in San Luis Obispo County over the past year, jumping from $395,000 to $450,000, according to the Keith Byrd price tracker.

Read more »


Central Coast Lending Closed December 24th and 25th

Our offices will be closed on December 24th and 25th and will reopen on the 26th. Merry Christmas!

Fall in New England

Happy Holidays! CCL Thanksgiving Hours

Central Coast Lending’s offices will be open on Wednesday, November 27th, and closed for the remainder of the week. Got any mortgage or real estate questions? Please email us here and we will promptly respond to your inquiry.

Morro Bay (Harbor 1.7)

CCL Offices Closed for Veteran’s Day (11/11)

We will be closed in observation of Veteran’s Day on November 11. We will resume normal office hours the following day. Our usual Monday mortgage rate update will also be delayed a day. Thanks, and have a wonderful day!