Steve Spiro’s Blog

Credible, a personal finance marketplace, has compiled data on mortgage rates for home purchases and refinances. For home purchases, rates for 30-year terms have edged down to 7.5%, while 10-year terms have dropped by more than a quarter of a percentage point to 6.25%. Homeowners interested in saving the most on interest rates should consider…

California experienced a population decline of ~800K residents between 2020 and 2023.

The process of getting pre-approved for a home loan is the first step to buying a home. After being pre-approved and making an offer, the loan will go to underwriting. During this process, an underwriter will assess the risk of the loan by thoroughly reviewing the borrower's financial credentials. This includes pay stubs, tax returns,…

Calistoga A tranquil town with rejuvenating hot springs, spas, and a wine country backdrop, attracting visitors for wellness and relaxation.

Discounts surge as market changes, even ultrarich buyers affected.

Orange County officials are moving forward with a new housing plan that could bring over 10,000 new homes to unincorporated county, but Supervisor Katrina Foley is questioning its realism due to some of the proposed sites already being developed. She voted with her colleagues to send the plan to state officials for approval, but it…

The Fed Paused its key interest rate at at its current range between 5.25% and 5.50%. Meanwhile a rate hike is expected on Fed next meeting on Oct 31- Nov 1.Officials cut forecasts for 2024 rate cuts, suggesting a "higher for longer" policy; benchmark rate above 5% by end of 2024.

California Attorney General warns against alleged misuse of local zoning rules to block state housing laws. A new initiative was filed to give local governments power to override state housing laws.

California's housing affordability hits a 16-yr low, with less than 1 in 5 homebuyers able to afford a median-priced, single-family home.