Mortgage Blog

Berlin Marathon in Oct, Napa Marathon in March and California International Marathon in Dec 2023. It will be a busier year for the race.

And hopefully I will focus on the mortgage business in 2024. So glad that I ran my fastest half marathon and marathon in the year 2022.

Posted by Eric Fang on December 10th, 2022 9:23 PM

The conforming loan limit is changed to $726,200. High Balance limit to: $1,089,300.

And the interest rate lowered to 5.25% (APR 5.25%) for 15 yr fixed, 5.75% (APR 5.75%) for 30 yr fixed.

Posted by Eric Fang on December 5th, 2022 11:49 AM

I ran my fastest Marathon the past weekend with the following splits:



LapDist (mi)TimeAvg (min/mi)Max (min/mi)Avg HRMax HRAvg SPMMax SPMGain (ft)Loss (ft)kCal
Posted by Eric Fang on December 5th, 2022 11:35 AM

Though I ran slower than 2017, actually I ran better this year. I ranked 138 of the total 2181 runners of my age group.

The screen below wasfor 2017:

Posted by Eric Fang on November 8th, 2022 8:58 PM

I am doing a few loans for TX and FL now. And I talked to one client about the reason why he would like to purchase in FL(he sold his primary in CA). Here is his logics:

1)Though the current interest rate is high, he can still refinance lower in the next a few years. And he can negotiate a better deal(that's true, I have one client purchased a property with almost 10% price cut).

2)He can save the same money back from property tax, and income taxes.

3)FL is closer to his daughter in NYC. And also it is easier to fly to Europe in east coast

4)And they can get lot of equity from the sale of the current primary home.

What do you think? Actually we also plan to move there a few years later, if my daughter will not move back CA.

Posted by Eric Fang on October 20th, 2022 1:12 PM

The interest rate stays very high now. So I spent a lot of the time for the training. Just finished London Marathon about a week ago(Oct 2, 2022) with the finish time of 3:28:00. 

Posted by Eric Fang on October 11th, 2022 8:54 PM

The limit was increased another 68k. 

Posted by Eric Fang on September 7th, 2022 9:18 AM

Not much changes for the interest rates. So I will still focus on the marathon training. I decided to run Jungfrau marathon in Switzerland(Sep 2023) and Athens Marathon Nov of 2023. I think I will give up the race for Berlin, which I deferred from this year to the next year.

Posted by Eric Fang on August 19th, 2022 10:11 AM

It was such a great achievement for me. This was the best race I have ever ran. I finished 4th of 112 of my age group of 55-59. A great achievement in a major marathon. I controlled my heart rate so well during the race, around 150 most of the time:



LapDist (mi)TimeAvg (min/mi)Max (min/mi)Avg HRMax HRAvg SPMMax SPMGain (ft)Loss (ft)kCal
Posted by Eric Fang on August 1st, 2022 3:32 PM

I will run it easy. Any finishing time below 3:30 is good enough.

Plan to run around 7:40 for the first 6 miles. 7th mile will be uphill, the pace will be around 8:20. Then 
pace back to around 7:40 until mile 11, pace around 9:00 for 1.5 miles uphill. Back to 7:20 to 7:40 until mile 15.

Will be around 8:30 until mile 18-19. Then run as fast I can. Hopefully I will not be that tired then.

Posted by Eric Fang on July 19th, 2022 10:40 AM

Please check out my progress here

I think I might have my PR at one of the marathons this year. Hopefully to run between 3:16 to 3:18.

Posted by Eric Fang on June 18th, 2022 1:54 PM

The stock market is down(a lot), and the interest rates are up too much and too fast. At least for the interest rate part, I never experienced such a big jump in the 6 months period of the time. And for the last a few hikes, the ARM rate is slow. But for our generation, no one experienced the inflation rate of over 8%.

So under this kind of market, the best thing for me to do is spending most of time to exercise. And I started running the fastest races starting this year. On April 3rd 2022, I ran Sactown 10 miler race with a finish time 1:09:53, the very first time with pace under 7:00. Then on May 15, 2022, I finished the Elk Grove half marathon with the finish time of 1:33:04(9 seconds faster than 5 years ago), and on 06/05/2022, I crushed another 1:22 with the finish time 1:31:42, the half marathon pace under 7 as well.

Here is the pace splits:



LapDist (mi)TimeAvg (min/mi)Max (min/mi)Avg HRMax HRAvg SPMMax SPMGain (ft)Loss (ft)kCal
Posted by Eric Fang on June 18th, 2022 1:31 PM

First, here is the link for the article.

My summary is below:

1)For some areas, It is over-valued. Places like Boise, Idaho; Sherman-Denison, TX ;Muskegon, MI  etc. "Boise, Phoenix, Austin and Miami have been particularly hot "

2)There is no crash of the RE market yet for the following reasons

a)"One is supply — there's a shortage of homes available," we are about 4 million homes short of what the country needs
b)New federal rules have put an end to the reckless mortgage lending that led to the housing bubble 15 years ago
c)I added this one: inflation of the labor cost and the material cost.

Conclusion: We might not see a crash at this level. For some areas, the price will go down; and other areas, the price will not go up too much.

Posted by Eric Fang on May 13th, 2022 10:38 AM

Now I can help you for the properties purchase in WA and TX now. Other states will follow.

Posted by Eric Fang on May 8th, 2022 5:07 PM

Still running at a good pace after Tuesday's workout. The pace split today:



LapDist (mi)TimeAvg (min/mi)Max (min/mi)Avg HRMax HRAvg SPMMax SPMGain (ft)Loss (ft)kCal

The pace for 3X1.5mile Tuesday:



LapDist (mi)TimeAvg (min/mi)Max (min/mi)Avg HRMax HRAvg SPMMax SPMGain (ft)Loss (ft)kCal
Posted by Eric Fang on April 14th, 2022 10:55 AM

Completed a sactown 10 miler race with the pace of sub-7. Here are the splits:



LapDist (mi)TimeAvg (min/mi)Max (min/mi)Avg HRMax HRAvg SPMMax SPMGain (ft)Loss (ft)kCal
Posted by Eric Fang on April 7th, 2022 11:24 AM

Then good news is that my license for WA was accepted. The bad news was the higher interest rates weeks after weeks. But I believe the rate should be eased after 6 months. So the current buyers might be able to refinance a few months later.

Had a few good trainings for the half marathons now. I can run 4 miles under 7:00 now.

See part of my training log at Eric Fang's Running Blogs. It is more important to have more excise when I am getting older. We will see whether I can get another PR within the next 2 months.

Posted by Eric Fang on April 1st, 2022 11:02 AM

Please see my race splits here: Eric Fang's Running Blogs

The exciting other races would be: Berlin Marathon in Sep; New York Marathon in Nov.

Posted by Eric Fang on March 7th, 2022 7:40 AM

30 yr fixed rate is higher now. But if you have loan amount , the rate can be as low as 3.875% to 4%. Please email me if you have similar scenario. 

Posted by Eric Fang on March 3rd, 2022 9:11 AM

I finished the courses for NV license. It will take a few months for the license ready. For WA and TX licenses, it should be ready some time in March.

Running is pretty good. I finished 18 mile run Feb 6, 2022, it was called spicy long run with 12 miles tempo run in the end. Finished pretty strong. 

See the splits here:

The interest rates went another quarter higher last week. Please just get refinance whenever the rate is good. The trend will only be higher.

Posted by Eric Fang on February 7th, 2022 10:26 AM

1)Out of State Loans.
I am working to get the loan licenses for the State of WA, TX and Nevada now. For all the other states, I can only do investment loans. Wait for the approval for WA and TX. Working on the courses for NV.

2)Rate Updates.
Conforming loan rates went up a lot recently. The best loan rate/program is 7 yr fixed or 5 yr fixed. The rate is around 2.625% to cover all or most of the closing costs. The APR is around 3.75% now.

I still at the best fitness level. I ran 2021 California International Marathon for the finish time of 3:21:13. I would try to see whether I can run a few minutes faster for March 2, 2022 Napa Marathon. My 3:21:13 finish was within 
one minute of my best time of 3:20:18.

I will the following exciting races this year:
Napa Marathon in March
San Francisco Marathon in July
Berlin Marathon end of Nov.
New York City Marathon beginning of Nov.
CIM(California International Marathon) Beginning of Dec.

I will run a few half marathon with my wife. The interest one would be: Avenue of Giants on May 1st, 2022.
I will run though the redwoods, which was in the northern California. And We will celebrate of our 29 years marriage that day.

4)No docs loans, Assets based loans.
We can do those loans in California. But the rates are high.

Posted by Eric Fang on January 28th, 2022 5:21 PM

Could not believe the low rates this days, especially for the ARM.

30 yr fixed 2.75%
5 yr fixed 1.75%
7 Yr fixed 2.25%
10 yr fixed 2.375%

APR below 2.75% for the above loans. And the rates are for no closing cost at all.

Posted by Eric Fang on May 9th, 2021 9:45 PM

Hi, the best rate would be 1.875% for 5/6m ARM. The rate is fixed for first 5 years, and then adjusted every 6 month after that. This program is good for those who want to take advantage this low rate , and comfortable with ARM.  The loan rate will be slightly higher for smaller loan amount.

Got the 2nd dose done for vaccine. Had a little bit side effect the 2nd day.  Had some warning sign from the aging body. Could not run much recently because of the achilles tendinitis. I might need to stretch more after future runs. Never had this before. I might have to wait for 2 months before another steady longer distance running.

Posted by Eric Fang on May 8th, 2021 4:36 PM

Today's ARM rate is around: 10/1 ARM 2.625%; 7/1ARM 2.375% to 2.5%; 5/1 ARM 2.375%. Those are the rates for the loan amount around $548k. The rate will be higher for the lower loan amount.

My frozen shoulder is getting better after a massage. I will try to get another one next week. Hopefully it will get better after 2-3 months.

It is Boston Marathon registration week. I do not think I will register and run Boston this year. Still prefer local races.

Finished the book: Breakfast with Buddha. Should I try : Dinner with Buddha, and Lunch with Buddha? Not sure yet.

Posted by Eric Fang on April 20th, 2021 8:35 AM

The rate is as low as 15 yr fixed 2.25% to 2.375%(APR 2.25% to 2.375%); 10 yr fixed 2.0% to 2.125% (APR 2.25% to 2.375%). This is the best rate we can have. 30 yr fixed rate still high.

Finished the book: Think Again by Adam Grant.  Almost finished the book: Van Gogh: The life. I think I can finish the book by this weekend.

Still pretty busy with the loans. I actually hope I can have more time for the reading. Purchased two books: The Unwinding: An Inner History of the New America and Nomadland. I plan to finish them by this summer.

Registered a few marathons this Fall. Hopefully I can run those marathons again. Most likely I will skip Boston this year, not sure whether I can get Tokyo. Plan to run Berlin next year. Too late to register Berlin.

A little bit lazy recently, mainly might be because of my frozen shoulders. I hope life be back to normal. And I got the fisrt vaccine yesterday from Pfizer.


Posted by Eric Fang on April 14th, 2021 8:55 AM

We have 10/1 ARM around 2.625%; 7/1 ARM 2.5%; 5/1 ARM 2.25%. All no closing cost at all.  Please email me for the rate quotes.

Posted by Eric Fang on March 24th, 2021 9:28 PM

Fannie Mae is tightening the underwriting criteria for second homes and investment properties, the government sponsored entity said in a letter to sellers on Wednesday.

“Recent amendments to our senior preferred stock purchase agreement with Treasury impose additional risk criteria on the loans we acquire,” the GSE said in a letter. “One of those restrictions is a 7% limit on our acquisition of single-family mortgage loans secured by second home and investment properties.”

Please call or email me if you have any questions regarding the 2nd home & Rental purchase/Refinance.

Posted by Eric Fang on March 12th, 2021 12:48 PM

A lot of good rates are gone. Jumbo 7/1 ARM rate still good, I locked several for 2.625% to 2.75%, depends on the loan amount and Loan to Value ratio.

It will be a different year for 2021. The rate went higher, and I have more time for running, abs workout, and reading. I plan to run a marathon July or August this year.

Just realized that in order to get good returns, you just hold the stocks or funds(no trading). I had two stocks TSM, and MU for about 20 years. And TSM was up 1368%; And MU 10 folds. The investment amount is small, but the return is good.

Personally I think the lowest rates were gone. It would only go up., but still slowly. And ARM rate is more attractive now if you missed the boat.

For my investment style, my bank stocks went up pretty a little bit this year, but I will pick up some QQQ this year, whether it will go up or lower.

Ran 10 miles yesterday, here are the paces:



LapDist (mi)TimeAvg (min/mi)Max (min/mi)Avg HRMax HRAvg SPMMax SPMGain (ft)Loss (ft)kCal


Posted by Eric Fang on March 3rd, 2021 1:03 PM

I gave one quote today. This was the lowest Jumbo rate after last March. This is a very good rate.

But this lender does not allow to use the rental income to qualify. So it might not be good for all borrowers.

Posted by Eric Fang on February 8th, 2021 9:14 PM

1)All Good Things Come to an End

Interest rates hit historically low levels last year due to the pandemic outbreak and the worst quarterly decline in economic growth ever. Those rates have helped millions of homeowners refinance and save significant money on interest expense. On the purchase side, along with several other tailwinds, low rates have fueled a bonanza in housing.

Fortunately, we are closer to getting past the pandemic as vaccines are now seeing widespread distribution. This, along with enormous stimulus measures, pent-up consumer demand, and easy monetary policy, tells us the good times of ultra-low rates may have come to an end.

2)The Bonds Yield Curve Is Talking

Economists look at things like the yield curve in the bond market to predict oncoming recessions or periods of economic expansion. At the moment, the difference or "gap" between the 2-year note yield and 10-year yield is at the widest level in over three years. This means the bond market is telling us we are about to see an era of economic expansion. Yes, better times ahead. Bonds and rates don't like good news and better times, and it's why we have seen an uptick in rates since the beginning of the year.

3)Inflation Expectations at Nearly 7-Year Highs

The 10-year breakeven inflation rate, what we expect to see inflation average over the next 10 years, is just a few basis points away from the higher levels in almost seven years. With Congress batting around another $1 trillion plus stimulus bill, along with fully reopening the economy, there is reason to believe these inflation expectations will rise even further. When inflation moves higher, rates move higher ... period.

4)What About the Fed?

The Fed has played a pivotal role in keeping rates relatively low by purchasing $120B worth of Treasurys and mortgage-backed securities (MBS). But despite those efforts, rates have crept steadily higher with the 10-year yield moving from .50% last August to 1.15% as of this writing.

Should rates move too high too quickly, the Fed will likely do more to try and pin down long-term rates, like purchase even more bonds or invoke some sort of yield curve control.

Conclusion: The interest rate will go slightly higher from now on. At least it will not go lower at this moment. I know a lot people emailed me saying that the interest rates are lower again, which is not true.

Posted by Eric Fang on February 7th, 2021 7:24 AM



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