Lender’s Corner

Thanks for stopping by our Lender’s Corner. We will feature a weekly column from Mondie Pic’l, my personal mortgage consultant.

Here’s a little more information about Mondie and below. Check back often to see the latest and greatest in the Pasadena area mortgage arena.

Mondie Pic’l is the Production Manager for PrimeLending a Plains Capital Company and a national direct lender. She has over 25 years mortgage banking experience and has demonstrated a lasting commitment to providing personalized customer service.
Mondie has proven that a mortgage business can be built one satisfied customer at time. Mondie’s business is driven by satisfied customers and referral partners. Her extensive expertise in underwriting is crucial when helping her customers navigate the today’s more stringent credit guidelines. She strives to understand the individual financial needs of each customer and assist them in structuring the best loan for their situation. Mondie believes that information and communication are the keys to a successful transaction; her primary goal is to share her knowledge with borrowers to produce outstanding results.

Mondie was in the top 10% of Mortgage Originators at Wells Fargo Bank from 2004 until 2008. She was recognized for her customer satisfaction in 2006, 2007, 2008 and 2009 with an average over 95% customer satisfaction.

Although Mondie has an unusual name she was born and raised in Southern California. She is married to her husband Greg who the IT manager for a top 5 accounting firm. She also has a beautiful daughter, Danielle who is in the third grade.

Please feel free to visit Mondie’s web site at www.mondiepicl.com or send her an e-mail at mpicl(at)primelending(dot)com. Her direct line is 626-233-1303

Mortgage Rates Below 4%?

Written on October 13, 2011 by irina in Buyers, Mortgage Information

0 Comments - Leave a comment!

The first step in working with Pasadena home buyers is to get loan approval and interest rates make a tremendous impact on the home buyers’ purchase power. The good news is that interest rates are very low and it looks like they will stay fairly low for awhile. Take a look at the article below.

By Melissa Dittmann Tracey, REALTOR® Magazine Daily News – October 7, 2011

For the first time ever, 30-year fixed-rate mortgages fell below 4 percent, Freddie Mac reported in its weekly mortgage market survey.

In the last month mortgage rates have continued to set new weekly record lows, but the 30-year mortgages’ latest drop below 4 percent may be an important threshold for potential buyers. The 30-year mortgage is the most popular financing option of buyers.

Mortgage rates are expected to stay well-below 5 percent through 2013, Fannie Mae economists are projecting. Home buyers taking out loans for purchase is expected to more than double in the next two years too, Inman News reports.

Rates have continued to free-fall as concerns over a global recession grows, Frank Nothaft, Freddie Mac’s chief economist, said in a statement.

Here’s a closer look at rates for the week ending Oct. 6.

30-year fixed-rate mortgages: averaged 3.94 percent this week, down from last week’s previous record low of 4.01 percent. A year ago at this time, the 30-year fixed-rate mortgage averaged 4.27 percent.
15-year fixed-rate mortgages: averaged 3.26 percent, another all-time low. This is the sixth-consecutive week the 15-year mortgage has posted new average record lows. Last week, 15-year rates averaged 3.28 percent. Last year at this time, 15-year rates averaged 3.72 percent.
5-year adjustable-rate mortgages: averaged 2.96 percent this week, dropping from last week’s 3.02 percent. A year ago, the 5-year ARM averaged 3.47 percent.
1-year ARMs: averaged 2.95 percent, the only mortgage rate to move up last week. Last week, the 1-year ARM averaged 2.83 percent. A year ago, the 1-year ARM averaged 3.40 percent.