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August 17th, 2018 9:54 AM
July Housing Starts rebounded slightly from the steep decreases seen in June. Housing Starts grew to a seasonally adjusted annual rate of 1.168 million units, which was a 0.9 percent increase from June's downwardly revised estimate of 1.158 million, the Commerce Department reported. 

Housing Starts were down 1.4 percent from July 2017, however, likely due to higher construction costs for materials and land and labor shortages this year. Results were divided across the country with increases in the Midwest and South and declines in the West and Northeast. Single-family starts, which make up the bulk of the residential housing market, were up 0.9 percent from June. 

There was a positive sign as Building Permits, a sign of future construction, increased 1.5 percent from June and are up 4.2 percent from a year ago. If this upward direction in permits continues, new home construction could get the boost it needs in the months to come. 

Retail Sales data for July signaled that the U.S. economy is doing well. Retail Sales rose 0.5 percent from June, well above the 0.1 percent expected. However, June Retail Sales were revised lower to 0.2 percent from 0.5 percent, which took some of the luster from July's figures. On an annual basis, Retail Sales were up 6.4 percent from July of last year. 

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Posted by Eric Fang on August 17th, 2018 9:54 AMLeave a Comment

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August 15th, 2018 12:03 PM
I just helped one of my clients to get 7/1 ARM Jumbo 3.625% for the purchase. I would not do the loan, but she got the rate.

Here is the story. She purchases a property from the builder, and the builder lender offered 3.75% for 7/1 ARM loan for the loan amount 1million. With builder's 9k incentive, the lender could offer 3.75% rate. For us, we offered 3.625% to cover all the closing cost. 0.125% better than builder's lender. So the builder lender matched the rate, and I asked the borrower to work with them(though my borrowers would like to work with me). Two reasons for this decision: 1)I will be on vacation for about 15 days. It might not be that convenient while I am out of the country. 2)The whole purpose is to help my clients to get a good rate. And they are very happy about it. 

And I will get similar rates in the future, if the loan amount and LTV works. Please email me efloans@gmail.com for the loan scenario questions.

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August 14th, 2018 12:45 PM
Read a story about a top mortgage producer: https://www.mpamag.com/poweroriginator/top-originator-advice/top-originator-allyson-kreycik-108672.aspx. It seems like the industry have changed a lot. During the peak years of 2009 to 1013, 100 million loans were not difficult. And now those kind of volumes can make Allyson a top producer.

But the key to her success is: help the buyer get a loan(or find a solution if for another industry). You know how to get a loan for your clients, and if you can not get it done, you know how to refer to another lender to get it done. It is very important to help the borrower's to get the loan so that they can move in the property smoothly.

There are a lot of niche markets in the industry. About 10 years ago, one loan agent told me that it is very lucrative to do reverse mortgage for the elders. I told him I can not do it since my clientele are not good candidates for the market, they do not have to get the funds for the house for the retirement, besides I do not know much old people.

Starting October, I will have one lender who can do loans with DTI(Debt to income ratio) around 50%. I think I can help more borrowers (especially those first time buyers) to qualify the loans, or other buyers whose DTI higher because the rental income could not be used etc. So if you know whose loans were recently rejected because high DTI, please let me know. I might be able to help.

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August 12th, 2018 3:34 PM
Updated a few pages on my website this weekend.

1)Booklist: www.ericfang.com/2018BookList

2)Marathons schedules for 2019: www.ericfang.com/MarathonCompleted
I have the following marathons registered:
CIM in Dec 2018
Carlsbad Marathon Jan 2019
Big Sur Marathon April 2019
Vancouver May 2019
San Francisco Marathon July 2019
And will Register Chicago for Oct 2019.

Will be very excited for the next year. I have a plan to run 100 marathons, and I will finish 1/4 of the plan the end of next year(25 marathons).

3)I talked with my friends about ETFs this weekend. Right now, the trend of the trading changed a little bit. The weight of certain stocks are much higher than other stocks(like FANGs, or MAGA). So when one stock's performance not good, and people dump the ETFs, it will bring other stocks down. For example, on July 26thm FB was down about 20%, AAPL was down as well, though AAPL earnings were pretty good.

4)And I found that one bank stock has very good dividend: HSBC. The current yield is about 5.41%. But the stock performance is much worse than US stocks, like JPM, BAC, C, etc.

5)Let's talk about some mortgage rates, I will have some good 7/1ARM rates in October. Check with me now or later if you are interested. And Also, if you plan to purchase or refinance, contact with me if :
1)Your Debt to income ratio is over 43%. I can do loans with DTI around 50%, even Jumbo. And the rates are pretty good.
2)If you have less than 2 years credit score
3)If you are working overseas, or have oversea income
And I will post more info about the loans later on. My email: efloans@gmail.com

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August 10th, 2018 10:19 AM
1)About working environment. I think we should feel happy about the job, the work and the working environment. If the job will not make you happy, I think we should quit that job, even if it will make you lots of money. It is not good for the health.

2)Read an article about the interview with Charlie Munger. See the link here:
https://www.gurufocus.com/news/718472/rare-charlie-munger-and-li-lu-interview--part-i.
We all know who he is, and how he is great about the investment with the partner Warren Buffett.  I like the part that College Professors, Judges and Value Investors can normally live longer. The main reason is that their emotions do not change too much everyday, not like journalist, the short term trades, they drink, sleep late and feel excited or unhappy so dramatically.  A few famous trades died at very young age, like  Jesse Livermore or William Delbert Gann. But Gann lived 77 years old, not bad actually.

3)The interest rates. There are two different opinion on the market. Chase CEO Jamie Dimon said that 10 year treasury should be at 4% or 5% kevel(He used to say 4%, now 5%). The link is here: https://www.bloomberg.com/news/articles/2018-08-06/dimon-doubles-down-on-higher-u-s-yields-call-with-5-warning But Robert Kessler, a bond fund manager, argued that the 10 year treasury would be stay at the 2.5% level, and eventually be below 1%.

So either of them could be right. If Jamie were right, then 30 yr fixed rate will go to 5.5% level. If Robert Kessler were right, then we could see 3.25% 30 yr fixed rate again.

But those predictions were useless, unless they would tell us about WHEN it would happen, right? But no one can tell, no one can predict since the economic conditions will change. And no one predicts the 2008 meltdown, right?

4)Home prices still continue go up, though the new home build permit slows. It is up because the inventory still low, and permits lower, because of the higher lumber price and shortage of construction workers. But the builders promised to train 50k workers. So it may take 6 months to train and hire new construction workers?

5)By the way, I have some good rates for Duplex loans, especially for the loan amount over 453k, ARM or fixed. Please let me know if you acquired Duplex recently.

Have a good weekend. And I will head to LA again this weekend. Might have some cool weather there and be away from the smoky wild fires.


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August 8th, 2018 2:14 PM
The rate unchanged for today. But the interest rate is expected to stay at this level for some time, then it will go up again.

I watched NKE for a long time. Remember I liked SBUX and NKE? And I purchased NKE only. And glad NKE was up more than 50% for the past 12 months. Technically it should go up for the next a few months. Let's wait till the end of Dec to see whether I am right or not.

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August 6th, 2018 11:41 PM
I would be able to do loans for all the states of USA starting October. I used to do loans for WA, TX and FL before. I think I would start with my existing clients, and also start the loans with escrow states first.

A few years ago, when I worked on those FL loans, I knew the closing was a little bit different from CA. Still I managed to do so. And that was in 2005. Then in 2016, I closed a few loans in WA, and there were through ING. They did not need license then. Things changed. But I would be able to do the loans again.

I biked 34 miles Saturday, and kicked off the training for the CIM. For the month of August, I would run slowly for the base building. And I completed 11 miles today. My goal would be finishing the race between 3:20 and 3:25.

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August 1st, 2018 11:43 AM
HELOCs are on the rise. According to a new survey done by TD Bank, nearly half of all homeowners have a Home Equity Line of Credit on their radar, with 42 percent saying they’re interested in applying for one in the next 18 months. This comes as no surprise as 69 percent of homeowners have seen their home equity increase over the last 18 months. 


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I ran San Francisco Marathon over the weekend, with a finish time of 3:43:03.
This was not actually a bad since I did not train too much, I ran on an average of 35 miles per week during the last two months. I think I will train hard and will try to run around 3:25 for the December CIM.

I think Facebook was also one of the sponsor for the San Francisco Marathon. So Mark Zuckerberg ran the 1st half as well. See the photo below.

There is an article on today's wall street journal. It explain why the treasury will be stuck under 3%, the Fed will keep the rate unchanged this Friday, and the economy in the 2nd half will be slowing down.

Here are some of the photos for the weekend. I will post more another time after I purchase the photos.




 

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Posted by Eric Fang on July 30th, 2018 9:09 AMLeave a Comment

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July 26th, 2018 9:01 AM
I have one borrower asked about whether she could get a HELOC from me. And the answer is yes, but it will be 2 months later.

I will open an HELOC myself. I will use it as an emergency funds source just in case there is a HUGE opportunity from the stock market when it crashes, or a purchase opportunity for the house. But I like stock market more.

The more I read about financial books, the more I think I should not spend too much reading the news and doing the trading. We just need to focus on some good companies which has simple business you can easily understand, like Visa, master Card; Costco; KO; Nike; Banks, etc. And standby most of the time. And do a few times a year or one every a few years. Or like Buffett, purchase Apple when the PE ratio is low and the business and growth are foreseeable.  

Ran 6 miles morning. Seems like getting better. Should be able to run around 3:35 to 3:40 for this weekend's San Francisco Marathon.

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July 25th, 2018 3:16 PM

We had the training over the weekend, and we talked about a story about BOFA who was fined by the government by discriminating different borrowers. One secret shopper pretend to be a Hispanic, and he had better credit score, better income, but got higher interest rate. Another one pretended to be a white, and the rate is better. So the bank was penalized for that. It happened in 2017.

And this morning, I got a suspious phone call from someone who claimed to do a VA loan. But I did not have any experience with VA loans, so I told her that I did not do any VA loans.
Then I thought I should do it "correctly" that I asked her income, down payment, purchase price etc, and promised to refer to another person if she does need the loan. And it turned out she was the one who wanted to sell me VA leads.

Anyway, closed 3 loans yesterday, one more close this week. Not bad for this kind of market. And still a few purchase loans in the pipeline.  


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Posted by Eric Fang on July 25th, 2018 3:16 PMLeave a Comment

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U.S. homebuilders broke ground on fewer homes than expected in June, due in part to higher costs for lumber, lack of available land and a shortage of construction workers. June Housing Starts fell 12.3 percent from May to an annual rate of 1.173 million units. This was the lowest level since September 2017, as Housing Starts declined in all four major regions of the country. Starts were down 4.2 percent from June of last year.

Single-family starts, which make up the bulk of residential housing, fell 9.1 percent in June from May. Multi-family dwellings of five or more units plunged 20.2 percent month over month. Building Permits, a sign of future construction, also declined 2.2 percent from May to an annual rate of 1.273 million. June's figures were a disappointment given that a lack of inventory has been an ongoing challenge to homebuyers in many areas of the country.

Retail Sales went in the opposite direction in June, as they were up 0.5 percent from May, the Commerce Department reported. May's figure was also revised sharply higher to 1.3 percent from 0.8 percent. From June 2017 to June 2018, sales rose 6.6 percent.

The Retail Sales report is considered the most-timely indicator of broad consumer spending patterns. The key takeaway is that people spend more when they are less concerned about the economy and their employment. Strong Retail Sales typically signal a belief that the economy is doing well. 
 

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July 19th, 2018 11:10 PM
I had lots of fun hiking with friends last weekend. We started from the Stinson Beach, then pass Mt Tamalpais State Park, went all the way to Muir Woods National Monument. The total distance was 14 miles. We left the beach 9:20am, and arrived back around 5:20pm. It was my first time to hike with the group. The trail was beautiful with lots of shade, and the friends are nice. And the hiking pace was good as well.

I will run San Francisco Marathon one week later(July 29th). Since I did not train much, so my goal would be around 3:40 to 3:50. I think I would have to train hard for CIM the end of this year.

And this Saturday evening, we will go to the top of Mission Peak from 5:30pm to 10:30pm. It is my first trip to hike in the evening. Should be fun as well.

 

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July 12th, 2018 1:02 PM
I thought I posted one blog Monday, but for some reason it did not save.

Anyway, Quicken invited us for a strategy meeting at AT&T park in San Francisco. I was interested in the events, the new programs they might offer, and how e could work together, But I was interested in the game in the evening between Giants and Cubs, though I did not stay long.

Yes, we are working to try get better and better rates for the clients. And Tuesday, we met another lender for the possibility of working together. The first thing would be the rates, I am interested to know what kind of "better" rates they could offer in a few months.

I did meet a senior VP there, and we shared the experience of the life of empty nests. He has twins went to college a year ago, and he asked what I did since I have so much time now. I told him that I would like to read a few books during the week days, and then on weekends, we like to go to cities(Especially SF and LA), and enjoy the city life, or go hiking, maybe once a month. I shared the experience of hiking that I felt like the day became longer when I walked on the trail for 5-6 hours. And I found lots of beautiful plants, met interesting people on the road. And I felt very happy after the trip or hiking. 

I finished 20 pages of "The Most Important Thing" by Howard Marks. I already finished the book in Chinese on wechat. But I would rather to read the English version one more time.
This books has valuable talks about the risk management for the stock investment. And Warren Buffett highly recommended.

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July 6th, 2018 6:40 PM

Friday saw a monthly jobs report that was slightly stronger than expected,
and with upward revisions for the prior two months. Unemploy-ment ticked up just a bit,
though, which was explained away as more people finally declaring themselves to be
part of the work force.  Seasonal adjustments are supposed to factor out the fact that
a bunch of young people just graduated from college, but there is great room for
statistical monkey business within those adjustments.

Wall Street was initially unsure of how it felt about the jobs report, but then traders
eventually decided they liked it resulting in a fairly strong up day, and on strong
breadth numbers.

I read the following from a newsletter:   Interest-rate sensitive dividend stocks such
as telecoms and pipelines had a tough first half as the Fed continued their interest rate
hikes. Maybe that's why some telecom stocks were down. The borrowing cost was high
for those  companies when the interest rates are higher. Maybe next time we should purchase those stocks when Fed started lowering the rates.


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July 5th, 2018 3:45 PM
Wealthy investors plan to hoard cash next year. See the link below: https://www.usatoday.com/story/money/markets/2018/07/05/cash-bonds-wealthy-market-investors-millionaire-assets-survey/759002002/

I also copy it here:

Equities markets are duller than dull right now and for the wealthy investor in the U.S. it may be about more than just the summer blues. It’s dull enough, in fact, that the wealthy are pouring back into cash according to a CNBC survey of American millionaires who said that in the next year they’re more likely to stock up on cash and bonds than equities.  

Markets are in correction mode, and wealthy investors aged 55 and under, and investors with $5 million or more, are no longer keen on pumping money into the stock market.

According to the survey, conducted for CNBC by Spectrem Group back in April — and since then the stock markets have gotten worse — short-term investments are on the rise among the wealthy, and equities outflows are hitting new records.

And it’s not just those with $5 million. The survey of 750 Americans with $1 million or of investable assets showed a similar pattern.

Of all millionaires surveyed, only 17 percent said they planned on increasing their exposure to equities in the next year, while 25 percent said they planned to increase short-term holdings in that same time period. Some 34 percent of investors with $5 million or more in investable assets said they would increase short-term holdings.


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July 4th, 2018 2:30 PM
1)Higher housing costs are killing millennial homeownership

2)Housing inventory shortage shows no signs of relief
Housing demand is high, but few homeowners are interested in selling and the resulting inventory shortage continues to drive home prices higher.

3)Slight decline in Oklahoma home sales attributed to low inventory

4)12 housing markets where home purchasing power is plunging
Purchasing power took a plunge in some of the nation's hottest housing markets, as a competitive spring purchasing season continues to drive home prices higher.

5)Dallas-area home prices up 7.8% in May

6)Manhattan homebuyers demand bargains, walk away — anything but overpay
Manhattan homebuyers are getting bolder these days, demanding bargains or walking away from deals in a market where inventory is swelling.


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July 3rd, 2018 6:20 PM
I am trying to see whether I have any talents on the stock investment. When I was smart enough, I knew that I did not have any special talent. But like a lot of other people, we will simply try and try to prove that we are not that smart.

I read a lot of financial books recently, and think I am a little bit now. But still I do not trade that much. I bought some WFC, JPM shares the beginning of this year, still under water.

A few years ago, I liked SBUX and NKE a lot. Starting last year, I know NKE should be doing better, since lots of runners like NKE shoes a lot. They thought those shoes can help them run a few seconds faster for each mile. And I do not know whether it was related, but NKE earnings was very good after that.

And I did not buy SBUX shares(Purchased NKE). If I did, I would be under water again. But for NKE, it appreciated over 40% after the purchase.

And story is WFC. I thought WFC would be ok after all those scandals, but Fed put a growth cap until WFC meeting the requirement. It was down almost 10% after Janet Yellen left the office. And it was not back to the level I purchased so far.

But they announced 24.5B stock repurchase plan. It helped the stock a little bit. But still, someone said do not buy the stock. But I held it for the long term. Let's check it in a few years.

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June 26th, 2018 2:52 PM
I think a lot of people will like this topic. And I do not know whether losing weight too much and too fast is a good thing or not.

I was sick right before my last marathon race, and I lost 2-3 lbs in one day, then It took me a long time to gain the weight back. For the last 6 months, I lost total of 8-10 lbs. I did not run much more miles, actually I ran about 40 miles per week(I used to run 60 miles), and I ran about 1 minute per mile slower than normal, and I ate a little bit less for my lunch and my dinner. And then I lost about 1-2 lbs every month from Jan to June.

But the problem was that I did not feel I had the energy to run fast any more. I ran slowly for the past 30 days, I know I kept the weight pretty well. Sometimes I talked to myself, did I lose my eight too fast, and my body did not get used to it yet? Or I might still need to eat more cabo(like Rice, bread etc)?

Anyway, I am still trying to figure out how to adapt myself to the new weight. When I was a little bit over-weight, I thought I could run faster if I lost 10 lbs, and now I lost the weight, I could not run fast any more. Very interesting.

My daughter finished the book: Friend & Foe. I just finished 130 pages. I need to have a plan, like 20 pages per day. I can not stick to the plan, though I am trying hard. 

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June 21st, 2018 11:12 AM

Like any other business, mortgage business also has a cycle. When the business is slow, some will change careers(back as engineers), some will find a position at local bank(work for retail), and I will hang on until I retire.

When we were very busy, like those years from 2008 to 2013, we had only a few hours' sleep, we complained and wondered when we could slow down so that we had more time for the rest. And we prayed and prayed, and I think now it is the time.

I read a lot of investment books recently. And I think I should do better in the future. Actually the investment in stock is easy, if you plan to invest in the long run.

 Talked to one of my closest friends about the investment. I advised him to let others manage his rentals. From my own opinion, the most important investment is the time. You can not buy the time, and when you get older, you will find that your "time" is limited. So we do not have to spend the time on those things we do not like, or on things only save us a few bucks. We need to buy the time, to enjoy the life, or even just use the extra time to have a simple nap after lunch.

Recommended the book: Friend & Foe: When to Cooperate, When to Compete, and How to Succeed at Both. She reads much faster than I do. Just can not compete with those who has English as the first language. My goal is to complete 20 pages a day, and 120 to 160 pages for her is easy.


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June 5th, 2018 10:25 AM
It was a wonderful last week. I went to a few Napa Wineries with my high school best friend, then went to Yosemite's Vernal Falls. Very productive two day trips, and then hiked from Land's Ends in San Francisco to Golden Gate bridge and turned around the north end of the bridge. Hiked for a total of 14 miles.

Started training this morning. I ran 6 sets of 3 minutes at half marathon pace with 2 minutes jogging in between. I did not run too fast, I think I still need a little bit more time to recover from the sickness and the marathon race one week before.

 Now back to the industry news:
1)Wells Fargo sold 52 Braches and Loans to Flagstar. Not sure why Wells Fargo tried to sell branches. It is still the largest home loan lender in USA

2)Some mortgage companies started layoff people to brace for an industry slowdown.

3)Market confidence strongest in the South(but where is the south states)? 

40Tax reform concern highest in the west(We California know that)

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June 1st, 2018 11:04 PM
"I put that work in, day in, day out." Kelly Clarkson. More people were putting work in, as job growth beat estimates in May. 

The Bureau of Labor Statistics reported that Non-Farm Payrolls rose 223,000 in May, above expectations and up from 159,000 in April. April and March were revised for an increased total of 15,000 more jobs than previously reported. May Average Hourly Earnings also rose 0.3 percent, in line with estimates, and up from 0.1 percent in April. Year over year, earnings were up 2.7 percent in May, from the 2.6 percent for the year ended in April. The Unemployment Rate for May fell to 3.8 percent, the lowest level since April 2000. Overall, the Jobs Report was strong and shows a strengthening labor market. 

Annual Core Personal Consumption Expenditures (PCE) showed that inflation rose 1.8 percent in April, while March was revised lower to 1.8 percent from 1.9 percent. Core PCE, which excludes volatile food and energy prices, is the Fed's favorite inflation gauge. While inflation remains steady, it is still below the Fed's 2 percent target. Since inflation reduces the value of fixed investments, like Mortgage Bonds, it can hurt Mortgage Bonds and the home loan rates tied to them. It will be important to see where inflation heads in the coming months. 

In housing news, home prices continued to edge higher in March due in a large part to low inventories of homes for sale on the market. The S&P Case-Shiller 20-City Home Price Index rose 6.8 percent from March 2017 to March 2018, matching the February gain. 

Although the second reading on first quarter 2018 Gross Domestic Product was also released last week, it came and went with little fanfare, near unchanged from the first reading. The real market mover was the geopolitical events throughout Europe. Political turmoil in Italy and Spain pushed investors into the safe haven of the Bond markets early in the week, but those fears eased in recent days as both countries came to an agreement. 

Mortgage Bonds were able to squeak out small gains in the latest week as they rose to near 2018 highs. Home loan rates declined and remain historically attractive. 

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May 30th, 2018 9:58 AM
I felt so differently recently. Fell from the trail run on May 12, then it took me a week to get it recovered. Then I was sick again on May 23rd, had cold and felt very weak. Had Diarrhea on Friday and Saturday. And determined whether I should run the race or not after I got to Ventura.

Felt better when I got there, and told my friends that I had recovered 80%, so I would be able to run the race, and I did finish, with the finish time of 3:41:48. I was so glad that I could finish. This is toughest one, but I got it done.

I learnt from my experience. I should not run a marathon when I was sick. It seemed ok for the body to run a marathon, but actually the body is not ready yet. A few more days rest would be better. I did not feel any energy on the legs after Mile 12. But managed to pull my legs forward one mile after another. And finally I was so excited when I saw the finish line.

I did watch my heart rate during the whole race. I needed to make sure my heart rate should be under 155.

Here is the photo at mile 20.5.

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May 20th, 2018 10:53 PM
If you want to refinance Rental ARM loans, we still have good rates. Here are a few samples:
1)Cash-out 300k loan to $650k loan, the 7/1 ARM rate is 4.875%.

2)$400k loan, 5/1 ARM 4.5%; 7/1 ARM 4.75% with no closing cost.
$300k loan, for $1000 closing cost with  5/1 ARM 4.5%; 7/1 ARM 4.75% rate.

The above rates are still much better than reset rate of 5%.

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The 2018 forecast was cut to $1.667 trillion from April's forecast of $1.69 trillion. In 2019, Fannie is now projecting $1.67 trillion of originations, down from its prior forecast of $1.686 trillion.

30 yr fixed interest rates are expected over 4.5% for 2018 and 2019.

"We remain confident that, despite a first-quarter hiccup, economic growth will pick up through the rest of 2018. There are signs that consumer spending is poised to strengthen in the months ahead, and we believe recent fiscal policy actions are likely to contribute to growth this year," said Fannie Mae Chief Economist Doug Duncan in a press release.

"Come 2019, however, we expect the fiscal boost to fade, and we adjusted our forecast lower accordingly. Meanwhile, housing's upward grind should continue, despite a lackluster first quarter. We expect home sales to post modest gains both this year and next, as prices rise and affordability declines amid low for-sale inventory."


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May 15th, 2018 6:05 PM
The bonds closed at 3.129 on 05/25/2011. And 30 yr fixed rate was indeed around 4.5% during that period of time. But the story was different then. The ARM rate was very low around 2011-2013. In May 2011, ARM rate around 2.5%(conforming loan), so even though the 30 yr fixed rate was high, borrowers are taking ARM loans, but now 5/1 ARM rate is around 3.875% to 4%. Totally different scenarios.

Some industry news.
1)Lenders for the solar systems will make more money because of the new requirement from state of California for the solar of the new homes.
2)Though interest rate is higher, builder confidence level highest during the last 4 months
3)Atlanta home price up, listing down
4)Houston area home price hits the record level.

More news tomorrow


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Posted by Eric Fang on May 15th, 2018 6:05 PMLeave a Comment

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May 14th, 2018 9:25 AM
1)Charlotte home prices keep rising

2)Baltimore home prices continue to rise in April

3)12 cities where home purchasing power is in danger
The cities are:
Cleveland, OH
Atlanta
Boston
Milwaukee
Orlando
Minneapolis
Tampa
Columbus OH
Jacksonville, Fla
Charlotte, NC
Seattle
Las Vega.

I copied the above from the mortgage magazine. Charlotte, NC price is rising, the affordability is decreasing.



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Posted by Eric Fang on May 14th, 2018 9:25 AMLeave a Comment

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May 13th, 2018 11:09 PM
I started working on the Dow numbers, one bank stock performance(WFC), SP 500, And 30 Yr fixed interest Rates and 5/1 ARM rate.  I am still working on it. It might take some time.
And I do not know whether this is useful. But at least this is worth reading.

The link is here: https://drive.google.com/open?id=1NAUBG_ujWyFvMeF1fi7MkjZ-S1LfDBrL
Just finished the Dow and WFC from 2000 to 2002.  I will add more data a little bit everyday.

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Posted by Eric Fang on May 13th, 2018 11:09 PMLeave a Comment

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May 10th, 2018 9:40 AM

One of my friends asked to get some energy ETF. According to him, the sector rotation should be good for energy stocks now. And another friend asked me to watch CTL, that one should be ok and also the dividend is over 10%. Should I buy it or not? Hard to resist the temptation. It was $17.5 when my friends recommended. It is $19.5 today.

But I am still familiar with bank stocks and Builder stocks. Sold LGIH at $71.x last week, and purchased back at $61.7 today. I think I did good on this one. Will do weekly/monthly trading on this one for fun.

My ultimate goal is buy/hold SP 500 index funds. And hold it for at least 30 years. And build the portfolio to certain level, and spend the rest of the other money. And will use the dividend income from KO/T and bank stock dividends as income if I decide to retire. And hold the index funds for a long long time.

Still life is better without trading stocks too much.

Finished another 10 miles this morning, with 8 miles the pace around 7:50. I did not try to hard for the next 2-3 weeks, and just check the heart rate under 150. That's my goal for the marathon race. I need to keep the heart rate under 150 for the first 20 miles, then race afterwards. Hopefully it works fine for the mountain to beach marathon race.


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Posted by Eric Fang on May 10th, 2018 9:40 AMLeave a Comment

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May 8th, 2018 10:00 AM
Normally non-bank lenders could not do helocs for the last a few years, and now Fannie Mae said that it is ok, though the rate is higher now. At least it is good for the lenders who can provide piggy back loans with low down payment.

Wells Fargo was fined again for the fake accounts. Warren Buffett said that he still trusts the bank and CEO Tim Sloan. I am an investor, and I have the complicated feelings about the class actions, and the stock performance.

I watched two stocks this year, SHAK and LGIH. SHAK was up $10 last Friday. LGIH was up $5 this morning and was down $2 at this moment. Both companies have good potential, but the volatility level is big, compared to the other stocks, especially LGIH. I went to the Shake Shack store in Santa Monica last weekend. The line was indeed very long, and I ended up eating at another food store.

Housing confidence still high, though the price keeps going up and affordability level was a little bit lower. We still expect the price will go up 4% year over year, at least keep up with the inflation level.

Warren Buffett still likes KO. I think his dividend income is good enough. For me I think I would rather own SP500 than Ko at this moment. May switch the stock sometime this year when the overall market is down.

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Posted by Eric Fang on May 8th, 2018 10:00 AMLeave a Comment

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