[Weekly Digest] Santa Clarita Online Store, More than Half of Modified Loans ...

[Wayne W. Chang]

Start off with interesting news:

More than Half of Modified Loans Delinquent within 6 months

"After three months, nearly 36 percent of the borrowers had re-defaulted by being more than 30 days past due. After six months, the rate was nearly 53 percent, and after eight months, 58 percent," said U.S. Comptroller of the Currency John C. Dugan. >>More at http://changhomes2.blogspot.com/2008/12/more-than-half-of-modified-loans.html


Add some local news:

City of Santa Clarita starts an online store

The City of Santa Clarita just launched its first online boutique, featuring specialty Santa Clarita-branded items designed to help residents and visitors enjoy the good life in Santa Clarita. >> More at http://changhomes2.blogspot.com/2008/12/city-of-santa-clarita-has-online-store.html


Opportunity is Ripe:

Low Prices, Low Rates Mean Opportunity: 30-Year Rates at Lowest in 4 Years

Since housing prices have also fallen dramatically all over the country and rates on 30-year fixed-rate mortgages are already close to 5.5 percent, experts say it's possible, with government encouragement, that rates will fall as low as 4.5 percent. >>More at http://changhomes2.blogspot.com/2008/12/low-prices-low-rates-mean-opportunity.html


The Rest of the News

Pending Home Sales Holding Steady

>>http://changhomes2.blogspot.com/2008/12/nar-pending-home-sales-holding-steady.html

Delinquencies Increase, Foreclosure Starts Flat

>>http://changhomes2.blogspot.com/2008/12/dellinquencies-increase-foreclosure.html


California Fast Facts:

• Calif. median home price - October 08: $311,060(Source: C.A.R.)
• Calif. highest median home price by C.A.R. region October 08: Santa Barbara So. Coast $860,000 (Source: C.A.R.)
• Calif. lowest median home price by C.A.R. region October 08: High Desert $154,660 (Source: C.A.R.)
• Calif. First-time Buyer Affordability Index - Third Quarter 08: 53 percent (Source: C.A.R.)
• Mortgage rates - week ending 12/4/08 3
• 0-yr. fixed: 5.53% Fees/points: 0.7%
• 15-yr. fixed: 5.33% Fees/points: 0.7%
• 1-yr. adjustable: 5.02% Fees/points: 0.5%
• (Source: Freddie Mac)

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Posted By Wayne W. Chang to Weekly Digest at 12/14/2008 08:38:00 PM