Los Angeles Home Mortgage Rates
LA Refinance Loan Options: Conforming, FHA, VA, Jumbo, Subprime

At Nationwide, our Los Angeles lenders provide both fixed and variable rate mortgage loans up to 96.5% for rate and term refinancing on FHA loans, 85% for cash out, 100% for VA home purchase loans and 90% for the traditional conforming loans. We offer LA residents discounted refinancing options for all types of credit. Now may be the time for Southern California homeowners to cash in the home's equity. If home values continue to erode, then it will become much more difficult for people to get access to money by refinancing. Residents in Long Beach, Manhattan Beach and Palos Verdes have so far been blessed with stable home values.

A recent article in the LA Times indicated, "After the home prices soared in California soared 22% last year, a strange thing happened: Instead of homeownership decreasing because fewer people could afford houses, it rose to record levels."

Unfortunately the Southern California foreclosures of 2007 and 2008 continued to rise at record levels in Los Angeles and Riverside counties. Many borrowers are reporting that their adjustable mortgage rates increasing while their property values began to decrease.

A good economy not so good for buyer's in the Los Angeles housing market. Homeowners have held on to their bottom line, keeping prices from declining too much. At least the dropping home values are beginning to be off-set by record low interest rates. The recent increase for FHA mortgage loans has opened the door for thousands of Los Angeles homeowners who are desperately seeking refinancing assistance. FHA loan limits were raised from $362,000 to $729,750 in high cost areas across Southern California.

Because the property value trend appears to be declining in many parts of California, we recommend that Los Angeles homeowners seize the present opportunity to refinance their adjustable rate mortgages into a fixed rate loan that is more affordable.

30-year fixed rate mortgages have dropped again to 6.5% since the same time last year, reports Freddie Mac. Meanwhile, adjustable rate mortgages jumped more than one point to 6%. California mortgage brokers reported a slight drop in second mortgage rates and the volume for home equity loan applications increased slightly for this period.

Economists usually predict a rising interest rate fights inflation. But since the beginning of the year, sales in LA's housing market have consistently dropped, while average home prices have grown more than $20,000. "Today's market is slowing as sellers maintain often unrealistic pricing expectations and buyers have more properties to choose from," says California Association of Realtors President Vince Malta. "In addition, unlike the slowdown we experienced in the 1990s, homeowners today are not under duress to sell due to job losses. The urgency that characterized the market for the last few years is now gone for all but well-priced properties."

Sales figures from LA show the good economy and job security has actually slowed sales and the market is now saturated. C.A.R. Chief Economist Leslie Appleton-Young says, "We've known that double-digit appreciation would eventually change when the underlying fundamentals change, which has been the case with expanded supply and rising interest rates. Affordability concerns prompted by higher prices and interest rate increases also are constraining sales. The monthly home payment has increased by 20 percent for many households in the state compared with last year."

Home Equity is NOT Being Viewed as a Lifetime Burden
A recent poll commissioned by Ditech.com and reported in the Los Angeles Times found that the majority of homeowners plan to pay off their mortgages within specific timelines

Option ARM Mortgage Advice for Purchase and Refinance

10 Considerations for Refinancing a Home Equity Loan
Making the decision to refinance a home equity loan is an important choice which should involve a great deal of consideration. The following are ten key points for homeowners to consider when making this important decision of securing a second mortgage loan:

Home Equity Loans for Lower Payments
All debt is bad debt right? Wrong! Although it may sound counter-intuitive, there is such a thing as good debt.


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California Home Loan and Mortgage Rate Info by City

Orange County Home Loans
O.C. Job growth continues to salvage property values, but home sales from San Clemente, Tustin and Ladera Ranch seem to have dipped with the increase in foreclosures. Home sales in Santa Margarita, Santa Ana and Mission Viejo may continue to slide.

San Diego Home Loans
The San Diego County housing market has been hit with foreclosures and sluggish home sales from one to five-million dollar homes from the desert to the coast.

Los Angeles Home Loans
LA property values are soaring again this year and began to taper off in metro areas. Neighborhoods in the beach cities like Malibu , Manhattan and Hermosa Beach have somehow been able to avoid big declines.

Fresno Home Loans
House values for Fresno, Bakersfield and Coalinga hit a low a few years ago, but have seen a spike to the property values in 2014.

Riverside Home Loans
Corona and Riverside home prices began to increasing again in 2014 and rapid foreclosures continue to torture the housing market across the county.

San Luis Obispo Home Loans
Home values for coastal SLO cities like Cayucos, Morro Bay and Los Osos have been able to avoid big losses, but San Luis Obispo property values in town and inland communities continue to drop 3-7% in many areas of the city.

San Bernardino Home Loans
Home values have dropped in most of the county, except for some mountain properties in Big Bear and Lake Arrowhead.

Santa Barbara Home Loans
Coastal properties in Santa Barbara show a rebounding housing industry this year.

Ventura Home Loans
Home values in Oxnard and Ventura have taken a hit with job losses and mounting foreclosures that continued in 2014.

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