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Brian Brady
San Diego
Google calls me "America's #1 Mortgage Broker"
Recent Activity
The Republican Party of San Diego County (RPSDC) met on January 12, 2015 to elect new officers, for a two-year term, adopt bylaws, and consider a standing endorsement resolution. We adopted a standing rule to recommend against any and all tax increase ballot propositions which require a 55% vote. The... Continue reading
Posted Jan 14, 2015 at Restore The GOP
FHA is lowering it's monthly mortage insurance costs. From Bloomberg.com: The annual fees the Federal Housing Administration charges to guarantee mortgages will be cut by 0.5 percentage point, to 0.85 percent of the loan balance, Julian Castro, secretary of the Department of Housing and Urban Development, said today during a conference call with reporters. Under the new premium structure, FHA estimates that 2 million borrowers will be able to save an average of $900 annually over the next three years if they purchase or refinance homes. This is a substantial cut. FHA monthly mortgage insurance premiums used to be about 1/3 of what they are now: The FHA has been increasing premiums since 2011 to offset losses caused by defaults on mortgages it backed after the housing bubble burst. Housing industry participants say the increases in annual fees, which are now at 1.35 percent of the loan balance, are squeezing... Continue reading
Posted Jan 8, 2015 at SAN DIEGO MORTGAGE AND REAL ESTATE
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We are grateful for ALL of the people, who have chosen Debra Brady and I, for their mortgage financing in 2014. While the year started off slowly, it really picked up after August 1, 2014--that may be an indication of what 2015 volume will be. We have focused on veteran housing issues since we lived near Luke Air Force Base in Arizona. This year marks our 11th year serving our San Diego veteran community. We moved here in 2003 and, while VA home loans were "out-of-style" for a few years, higher loan limits (and lower housing prices) made them a popular mortgage product again. Popular or not, we still plugged away. Today, San Diego recognizes us as VA home loan experts; we have a special expertise in getting a VA condominium approval. We are proud to close out December, 2014 by funding loans for a Marine Corps veteran, a Marine... Continue reading
Posted Dec 31, 2014 at SAN DIEGO MORTGAGE AND REAL ESTATE
The mortgage bond market is currently at it's 2014 high price levels. If prices hold, mortgage bonds will close 5% higher than they closed in 2013. What this means to you is that retail mortgage rates should be about a half of percent lower than they were in December 2014. This hasn't necessarily happened though. Mortgage lenders have been wary to pass those bond market gains onto the consumer. There is an "angst" that the party could end at any given time. Conventional mortgage rates haven't improved as much as VA home loan or FHA mortgage rates have. Still, I"m hopeful that next week will see rates more in line with the bond market gaints. You can follow the national average mortgage rates at Bankrate.com. San Diego mortgage rates tend to be .125% LOWER than the national average. Average rates as of December 31, 2014: 30 Year fixed conventional average=... Continue reading
Posted Dec 31, 2014 at SAN DIEGO MORTGAGE AND REAL ESTATE
Election Day is November 4, 2014 unless you are a died-in-the-wool, progressive Democrat. I'd encourage progressive Democrats to be certain that you show up to the polls early on November 5th. All kidding aside, here are my recommendations for the upcoming elections I care about. The Republican Party of San... Continue reading
Posted Oct 30, 2014 at Restore The GOP
This was forwarded to me by a source I trust: I was surprised when I received my "sample" voter pamphlet...and found out many critical positions were to be voted on: Ca. Supreme Court and Ca. Appellate Courts. I began my "research" on who was involved. The first thing I found... Continue reading
Posted Oct 30, 2014 at Restore The GOP
Mortgage bonds have steadily strengthened since their August, 2014 levels, causing September mortgage rates in San Diego to drop. You can follow the national average mortgage rates at Bankrate.com. San Diego mortgage rates tend to be .125% LOWER than the national average. Average rates as of August 1, 2014: 30 Year fixed conventional average= 4.06% 15 Year fixed conventional average= 3.17% 30 year fixed VA/FHA average= 3.65% 30 year fixed VA/FHA jumbo avg.= 4.0% 5/1 adjustable rate conv. average= 3.52% We told you last month that San Diego home prices up but the price increases are decelerating. While I believe that the long-term trend will track the increases in inflation, prices may soften through 2015. I talked about this on Active Rain today and cited this Redfin article: The first is a slowdown in home price growth. For the first time in five months, price growth was essentially flat in... Continue reading
Posted Aug 29, 2014 at SAN DIEGO MORTGAGE AND REAL ESTATE
"We could not have had an easier or better experience buying our first condo with the expert assistance from Brian and Debra (Brady) . I started the home buying process while still on deployment, and Brian graciously worked with me across 13 time zones to begin explaining the ins and outs of home buying. The building we had looked at was not VA approved, which is crucial to securing a VA loan. I googled VA home approval, and his was the first name to pop up. Brian is an absolute master at working with the VA, within 5 weeks from putting in an offer on the home, the complex was VA approved, and we closed within six. Brian took my wife and I out for cocktails to explain in person the different loan rates and explain the decision making process for each of them, and Debra worked like a fiend... Continue reading
Posted Aug 25, 2014 at SAN DIEGO MORTGAGE AND REAL ESTATE
Zillow Chief Economist Stan Humphries confirms what I"ve been saying for five years now; Millennials prefer renting to owning a home. Millennials can be defined as the generation born from in the early 1980s to the early 2000s. If you want to be more definitive, let's say 1981 through 2002 (or today's 12-33 year olds.) This is a HUGE demographic, some 80-90 million Americans. They ain't buying homes. Here's why: (1) older Millennials got burned in the real estate boom and bust last decade. They were the "last in" on the Federal Reserve-induced boom and bought at the top of the market. When the balloon popped, they got caught holding the bag. So many of them short sold those properties or lost them in foreclosure because... (2) ...they don't have the income. 1in 7 can't find work and over 4 out of 10 of the best educated millennials are underemployed.... Continue reading
Posted Aug 3, 2014 at SAN DIEGO MORTGAGE AND REAL ESTATE
Mortgage bonds had a rocky ride this week but still finished at the same level they did last Friday. Wednesday spooked the market and it dropped a half-point, suggesting that rates would rise .125%. Unexpected strength today buoyed the market and kept mortgage rates at their July, 2014 levels. You can follow the national average mortgage rates at Bankrate.com. San Diego mortgage rates tend to be .125% LOWER than the national average. Average rates as of Ausust 1, 2014: 30 Year fixed conventional average= 4.21% 15 Year fixed conventional average= 3.28% 30 year fixed VA/FHA average= 3.75% 30 year fixed VA/FHA jumbo avg.= 4.125% 5/1 adjustable rate conv. average= 3.53% CAUTION: San Diego home prices up but the price increases are decelerating. That's fancy double-speak for "you're making money but not as quicly as you did last year". I don't know if that's the beginning of the end of the... Continue reading
Posted Aug 1, 2014 at SAN DIEGO MORTGAGE AND REAL ESTATE
The Republican Party of San Diego County met in April, 2014 to deliberate and vote on a consent list for endorsement in the June, 2104 and November, 2014 election. Our Executive Committee (of which I am a member) voted to forward Assemblyman Tim Donnelly's name for endorsement for Governor of... Continue reading
Posted Apr 21, 2014 at Restore The GOP
It feels good to be on the right side of the market. We saved a couple of clients some money because the mortgage bond market gained 1.5% in price and we advised clients to float rather than lock last week. We don't always get these calls correct so we watch an unlocked loan like hawks. Mortgage rates moved down from their 2014 high (last Friday) to the lowest they've been in a month and we've been riding the wave. A lot of this has to do with a deteriorating stock market; if that continues, rates will move lower...FAST. You can follow the national average mortgage rates at Bankrate.com. San Diego mortgage rates tend to be .125% LOWER than the national average. Average rates as of April 12, 2014: 30 Year fixed conventional average= 4.26% 15 Year fixed conventional average= 3.27% 30 year fixed VA/FHA average= 3.89% 30 year fixed VA/FHA... Continue reading
Posted Apr 12, 2014 at SAN DIEGO MORTGAGE AND REAL ESTATE
It's part networking and all social. The Coastal Real Estate Soiree is open to professionals in the real estate industry (and their friends). This is an opportunity to mix and mingle with other residential real estate agents, commercial leasing reps, investors, lenders, escrow officers, title representatives, attorneys, and commercial real estate brokers. Tuesday, April 29, 2014 4:30PM until 7:30PM Searsucker in Carmel Valley will be hosting us on the patio. Happy hour drink and appetizer specials until 6:30PM. Check out the Happy Hour drink and appetizer specials here. Free admission, limited to 50 people. Secure your FREE reservation and ticket here. Ten (10), 60-second pitchs avaliable for listings, buyers needs, vendors, etc at $25.00 each. Secure your "pitch" resrevation here. Have questions about The Coastal Real Estate Soiree? Contact Brian Brady-- (858)-777-9751 Continue reading
Posted Apr 7, 2014 at SAN DIEGO MORTGAGE AND REAL ESTATE
Mortgage rates are near their 2014 high. The mortgage bond market has been bouncing around since our last report (March 14, 2014) but has been steadily deteriorating since that time. Only in the last two trading sessions have mortgage bonds recovered from their two week slide. If the rally can continue into next week, we'll see rates come back to their March 14, 2014 level or better. For now, mortgage rates are about 1/8-1/4% higher than they were a month ago. You can follow the national average mortgage rates at Bankrate.com. San Diego mortgage rates tend to be .125% LOWER than the national average. Average rates as of April 6, 2014: 30 Year fixed conventional average= 4.44% 15 Year fixed conventional average= 3.42% 30 year fixed VA/FHA average= 4.01% 30 year fixed VA/FHA jumbo avg.= 4.375% 5/1 adjustable rate conv. average= 3.41% We think it's okay to cautiously float at... Continue reading
Posted Apr 6, 2014 at SAN DIEGO MORTGAGE AND REAL ESTATE
Happy Pi Day ! The mortgage bond market closed today about where it did two weeks ago (our last report). Back then, we advised you to hold out and, if you did, you could have locked at a lower rate on the first few days of March. Mortgage bonds dropped after that, as much as a point. We cautioned our borrowers to not panic and wait patiently for the right rates; we think those rates are here now. You can follow the national average mortgage rates at Bankrate.com. San Diego mortgage rates tend to be .125% LOWER than the national average. Average rates as of March 14, 2014: 30 Year fixed conventional average= 4.28% 15 Year fixed conventional average= 3.35% 30 year fixed VA/FHA average= 3.87% 30 year fixed VA/FHA jumbo avg.= 4.18% 5/1 adjustable rate conv. average= 3.33% Geopolitical risk, surrounding the Ukraine and Russia are driving the mortgage... Continue reading
Posted Mar 14, 2014 at SAN DIEGO MORTGAGE AND REAL ESTATE
Subscribe to the mortgage rates report via text by adding your cell phone here. Mortgage rates rose moved down towards the Febuary 14th territory after rising a full 1/8 of a percent in the week eneding February 21, 2014. International unrest led worldwide capital to fly towards American bond markets and that made mortgage bonds attractive again to investors. Conflicting economic data on Friday stalled a big rally and broght rates in line with the lowest they've been in two weeks. You can follow the national average mortgage rates at Bankrate.com. San Diego mortgage rates tend to be .125% LOWER than the national average. Average rates as of February 6, 2014: 30 Year fixed conventional average= 4.30% 15 Year fixed conventional average= 3.32% 30 year fixed VA/FHA average= 3.87% 30 year fixed VA/FHA jumbo avg.= 4.13% 5/1 adjustable rate conv. average= 3.49% Absent any crazy inflation data next week, we... Continue reading
Posted Feb 28, 2014 at SAN DIEGO MORTGAGE AND REAL ESTATE
Subscribe to the mortgage rates report via text by adding your cell phone here. Mortgage rates were generally stable this week but the Friday sell off in mortgage bonds suggests that Tuesday's rate sheets (Monday is a federal bank holiday) will have higher rates on them. The bond market closed almost 1% lower today than it did last Friday. We reported last week that lenders were "padding" the rate sheets in anticipation of this sell off. It appears that, unless the bond market turns around Tuesday morning, the lenders have "burned through" the padding. You can follow the national average mortgage rates at Bankrate.com. San Diego mortgage rates tend to be .125% LOWER than the national average. Average rates as of February 6, 2014: 30 Year fixed conventional average= 4.27% 15 Year fixed conventional average= 3.28% 30 year fixed VA/FHA average= 3.87% 30 year fixed VA/FHA jumbo avg.= 4.13% 5/1... Continue reading
Posted Feb 14, 2014 at SAN DIEGO MORTGAGE AND REAL ESTATE
Mortgage rates have remained stable this week. While the week started off well, with the mortgage bond market rising over 1%, those gains haven't passed through to the mortgage rate sheets. Lenders were cautious about the bond market optimism and their cautious approach was warranted. The mortgage bond market gave back all of its gains and rate sheets have remained stable all week. You can follow the national average mortgage rates at Bankrate.com. San Diego mortgage rates tend to be .125% LOWER than the national average. Average rates as of February 6, 2014: 30 Year fixed conventional average= 4.26% 15 Year fixed conventional average= 3.31% 30 year fixed VA/FHA average= 3.86% 30 year fixed VA/FHA jumbo avg.= 4.11% 5/1 adjustable rate conv. average= 3.49% We now offer an 80/10/10 mortgage. This means that a home buyer can put 10% down, get an 80% forst mortgage (up to $545,000) and a... Continue reading
Posted Feb 6, 2014 at SAN DIEGO MORTGAGE AND REAL ESTATE
The Republican Party of San Diego County met in January to deliberate and vote on a consent list for endorsement in the November, 2014 election. The candidates offered were originally considered in the December, 2013 meeting but were voted down at that time. Even though this endorsement consideration is six... Continue reading
Posted Jan 16, 2014 at Restore The GOP
The Republican Party of San Diego County met last night to celebrate the holidays and consider the endorsement for incumbent City Council candidates, from various cities, for the November 2014 election. The Executive Committee met last week (I was absent) and recommended that the compiled list of candidates be endorsed.... Continue reading
Posted Dec 10, 2013 at Restore The GOP
The Republican Party of San Diego County (RPSDC) met last night to endorse a candidate in California's 52nd Congressional District (CD52). The 52nd Congressional District includes the cities of Poway, Coronado, most of the City of San Diego communities north of Interstate 8, and most of the City of San... Continue reading
Posted Nov 12, 2013 at Restore The GOP
The Republican Party of San Diego County met last night, to deliberate and vote on the endorsement for the Special Election for San Diego Mayor. One candidate, Councilman Kevin Faulconer requested the party's endorsement. I voted to endorse Kevin Faulconer for the Mayor of San Diego. The committee unanimously voted... Continue reading
Posted Sep 10, 2013 at Restore The GOP
Mortgage rates improved about 1/4% since last month's report. Today's best execution rates average 4.375% for a conventional loan and 4.125% for a VA loan. Keep in mind that a "best execution rate" assumes the highest credit rating, a debt-to-income ratio undee the guidelines limit, and at least 20% downpayment. Each borrower is an individual and may or may nor meet that criteria. But it's a guide if you're watching the mortgage rates market. Speaking of which, you can receive a twice weekly update, via text message, by sending the word "RATE" to 313131. I'll be sending a text message in the middle of the week and on the weekend with the best execution mortgage rates. You can always unsubscribe too so I won't be text-spamming you. July was crazy for the mortgage bond market. Wild price swings were the norm, with rates getting as low as 4.275% for conventional... Continue reading
Posted Aug 4, 2013 at SAN DIEGO MORTGAGE AND REAL ESTATE
Independence Day meant more things than barbecues, beer, and baseball this year. Mortgage bond investors didn't like the idea of independence from Federal Reserve Bank subsidies. Just before the holiday, I suggested that the Fed was sending stabilizing signals that the quantitative easing programs wouldn't be completely abandoned. Last week, there was only one fear; the non-farm payrolls report released on Friday (July 5, 2013). That report exceeded expectations and the mortgage bond market nearly collapsed-- rates spiked to as high as 4.875% for conventional loans and 4.75% for VA/FHA loans. One thing which contributed to Friday's volatility was that it was a day after a holiday. The trading desks operated with skeleton crews of junior traders, most of which were nervously selling befoe the weekend. When their senior colleagues returned on Monday, they saw buying opportunities in mortgage bonds. The mortgage bond market recovered a bit more than half... Continue reading
Posted Jul 10, 2013 at SAN DIEGO MORTGAGE AND REAL ESTATE
Mortgage rates have been marching steadily higher, from 3.00% to 4.25%, since May, 2013. In my last report, I discussed how it was important to keep things in perspective--it got uglier. Mortgage rates rose to as high as 4.625%, at the end of the week, and the mortgage bond market opened up last week, desperately looking for some sort of direction from the Federal Reserve Bank (FED). This whole rise started when FED Chairman Ben Bernanker suggested that it would "taper" the heavy bond-buying program, designed to subsidize mortgage rates. Bond traders were looking for clarification from the FED. The FED delivered. All throughout last week, it was obvious that the FED was buying mortgage bonds, to force rates lower, each morning. It didn't work Monday or Tuesday. On both days, the bond market was up (positive for lower rates) but prices had waned by the close of the trading... Continue reading
Posted Jul 1, 2013 at SAN DIEGO MORTGAGE AND REAL ESTATE