30-year fixed rate mortgage (FRM) rates hit historic low; For-sale inventory drops; Home sales volume set to fall
Today’s low interest rates aren’t enough to boost inventory, home sales volume; Monthly Statistical Update (June 2020)
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California Mortgage Lending
Learn the core concepts of consumer and business mortgage lending and brokering.
Stay current on the latest news, videos, forms, and updates for California Mortgage Lending.
Recent updates to the course e-book
- Chapter 3: The Agency Law Disclosure. The updated statutory Agency Law Disclosure and confirmation provision went into effect the beginning of 2019. Both the content of the form and when it is to be used have been modified. Further, prior printings indicate the Agency Law Disclosure is not required on a lease with a term exceeding one year. However, lease transactions greater than one year are targeted transactions requiring the disclosure. For a thorough analysis of the new disclosure and confirmation practices, see the digital eBook version of the book.
- Chapter 72: Home mortgage interest deductions. The definition for principal residence on page 472 is partially obscured. It should read “The residential property where the homeowner resides a majority of the year.”
- Quiz 3 Question 3 has been simplified to read:
California anti-discrimination law is enforced by:
a. the Department of Business Oversight (DBO).
b. the Department of Fair Employment and Housing.
c. the Department of Housing and Urban Development (HUD).
d. Fannie Mae.
06/25: The 2025 rules for buyer representation and fee-splitting avoidance are currently being edited into this e-book.
Newly published related content
ARM rates remain low, but not low enough
The average ARM rate has fallen back in 2020.
Home prices, savings and bankruptcies in a pandemic; Monthly Statistical Update (May 2020)
Home prices are propped up by low interest rates, for now; Saving opportunities narrow in California; Personal bankruptcies set to rise
Falling interest rates keep Buyer Purchasing Power Index positive in Q1 2020
California’s Buyer Purchasing Power Index (BPPI) was +8.9 in Q1 2020.
Recession anticipation send rates down, refinances up; Monthly Statistical Update (April 2020)
Negative yield spread forecasts 2020 recession; FRM rates hit record lows; Refinances to continue their rise
Slowing sales and unmet housing demand; Monthly Statistical Update (March 2020)
California home sales volume down slightly in 2019; Home prices level off going into 2020; Construction declines in 2019, despite rising demand
Residential construction strains to meet population growth; Monthly Statistical Update (January 2020)
California construction still insufficient; First-time homebuyer population grows, homeownership slows; California’s population growing at a slowing pace
Buyer Purchasing Power Index rises in Q4 2019 with falling interest rates
first tuesday’s 2020 forecast shows buyer purchasing power decreasing in the coming months.
DBO Bulletin Digest December 2019
Editor’s note — The California Department of Business Oversight (DBO) supervises, licenses and regulates a variety of financial institutions, including some real estate mortgage loan originators (MLOs) holding a Nationwide Multistate (or Mortgage) Licensing System...