GEM Mortgage Los Angeles

GEM Mortgage Los Angeles We are a full service mortgage banking company with 60 offices throughout the Western United States.
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Spending some time at the Ronald McDonald House. A great day.
05/06/2019

Spending some time at the Ronald McDonald House. A great day.

April Jobs Report: Great Headline Numbers. However reality is just a little different. The Unemployment Rate Dropped fro...
05/03/2019

April Jobs Report: Great Headline Numbers. However reality is just a little different. The Unemployment Rate Dropped from 3.8% to 3.6%, which is in fact the lowest since 1969-Let's look at why. There are 2 different surveys within the Jobs Report-The Business Survey, where the headline jobs figure is derived from and the Household Survey, where the Unemployment Rate comes from. The Household Survey also has a jobs creation component, which said there were 103,000 job losses. There is still another component that goes into the Unemployment Rate-The Labor Force Participation Rate. The Labor Force decreased by 490,000, which is why the unemployment rate fell.....but this is for the wrong reason and not due to strength. The all in U6 Unemployment Rate, which includes total unemployed, plus all persons marginally attached to the labor force, plus total employed part-time for economic reasons, remained at 7.3%. The Labor Force Participation Rate fell from 63% to 62.8%. The pool of available labor fell to the least amount since 2001. Also Average hourly earnings rose .2% last month and remained up 3.2% yoy. However Weekly Earnings, which is the more meaningful measure, declined from 3.2% to 2.9%.

New Home Sales Surge in MarchAfter some not so great numbers from March Housing Starts and Existing Home Sales, sales of...
04/24/2019

New Home Sales Surge in March

After some not so great numbers from March Housing Starts and Existing Home Sales, sales of newly constructed homes surged in March due in part to lower mortgage rates and home prices. The Commerce Department reports that New Home Sales rose 4.5% in March from February to an annual rate of 692,000 units, well above the 646,000 expected and the highest level since November 2017. From March 2018 to March 2019, sales rose 3%. Gains on a monthly basis were seen in the Midwest, South and West, with losses in the Northeast.

Check out this beautiful property.
04/19/2019

Check out this beautiful property.

GEM Mortgage Los Angeles
03/27/2019

GEM Mortgage Los Angeles

February Housing Starts Disappoint. March 26th

The Commerce Department reports that Housing Starts fell 8.7% month-over-month in February from January to an annual rate of 1.162 million units versus the 1.210 million expected. Starts were down 9.9% year-over-year. It was the largest monthly percentage decline for total Housing Starts in eight months. Single-family starts plunged 17% month-over-month, down 10.6% annually. Multi-family dwellings jumped 23.5% monthly, but fell 5.4% annually. Total Housing Starts fell in the Northeast, South and West, with gains seen in the Midwest.

February Housing Starts Disappoint.  March 26thThe Commerce Department reports that Housing Starts fell 8.7% month-over-...
03/27/2019

February Housing Starts Disappoint. March 26th

The Commerce Department reports that Housing Starts fell 8.7% month-over-month in February from January to an annual rate of 1.162 million units versus the 1.210 million expected. Starts were down 9.9% year-over-year. It was the largest monthly percentage decline for total Housing Starts in eight months. Single-family starts plunged 17% month-over-month, down 10.6% annually. Multi-family dwellings jumped 23.5% monthly, but fell 5.4% annually. Total Housing Starts fell in the Northeast, South and West, with gains seen in the Midwest.

Realtor friends...did you know…• The CalHFA sales price limit is $765,000 for the entire state of California?• The...
02/14/2019

Realtor friends...did you know…
• The CalHFA sales price limit is $765,000 for the entire state of California?
• The CalHFA income limits are all in the 6-figure range? ($128,300 for Los Angeles County and $176,850 for Ventura County)
• A CalHFA borrower has to meet credit score, DTI & homebuyer education requirements?
Contact us today and let us design a financing plan that is perfect for your first time homebuyers!

Realtor and Broker Friends did you know…• The CalHFA sales price limit is $765,000 for the entire state of CA?• Th...
02/06/2019

Realtor and Broker Friends did you know…
• The CalHFA sales price limit is $765,000 for the entire state of CA?
• The CalHFA income limits are all in the 6-figure range? ($128,300 for Los Angeles County and $176,850 for Ventura County)
• A CalHFA borrower has to meet credit score, DTI & homebuyer education requirements?
Contact us today and let us design a financing plan that is perfect for your first time homebuyers!

Looking for some career advancement?  Give us a shout.  Let's talk!!
02/06/2019

Looking for some career advancement? Give us a shout. Let's talk!!

Fed Thoughts, The Fed Punchbowl is back. Important words from Fed Statement "Patience" - on Fed rate hikes. Removed "gra...
01/30/2019

Fed Thoughts, The Fed Punchbowl is back. Important words from Fed Statement "Patience" - on Fed rate hikes. Removed "gradual hikes" removed "risk of economy balanced"... meaning changed "strong" economy to "solid" economy "muted inflation." Great for Bond market. Stocks and Bonds both loving the Statement.

Mortgage Rage Pricing show a little improvement.

WHICH IS MORE APPEALING?  SUPER SENIORS - The number of Americans at least age 75 is projected to double over the next 2...
01/07/2019

WHICH IS MORE APPEALING?
SUPER SENIORS - The number of Americans at least age 75 is projected to double over the next 20 years, rising from 23 million in 2020 to 45 million in 2040 (source: Census Bureau).
THEY FORGOT TO PLAN - 62% of the 43 million Americans on Social Security receive at least 50% of their retirement income via their monthly Social Security benefit (source: Social Security Administration).

How does your mortgage fit into your long term savings plans? What Financial Professional helps coordinate your financing needs to help you meet your long term savings goals? Your CPA, investment person, your mortgage person? Your mom and dad?

Do you have any questions? Do you need a 2nd opinion? Is it time to get some help?
Great people and great resources available. Just let us know.

GEM Mortgage Los Angeles
12/19/2018

GEM Mortgage Los Angeles

With today's hike to the Fed Funds Rate to 2.50%, the Prime Rate now sits at 5.50%. Fed Funds Rate (2.50%) + 3 percentage points = 5.50%. 10-yr yield falls to 2.76%.
The Bond closed at 101.59, +12bp. The Dow fell by 351.98 points to 23,323.66, the S&P 500 lost 39.20 points to 2,506.96 while the NASDAQ closed at 6,636.82 down 147.08 points. WTI oil was last seen at $47.20/barrel, +$1.72. 10-yr yield fell to 2.76%. Tomorrow's data includes Weekly Initial Jobless Claims and the Philly Fed.

With today's hike to the Fed Funds Rate to 2.50%, the Prime Rate now sits at 5.50%. Fed Funds Rate (2.50%) + 3 percentag...
12/19/2018

With today's hike to the Fed Funds Rate to 2.50%, the Prime Rate now sits at 5.50%. Fed Funds Rate (2.50%) + 3 percentage points = 5.50%. 10-yr yield falls to 2.76%.
The Bond closed at 101.59, +12bp. The Dow fell by 351.98 points to 23,323.66, the S&P 500 lost 39.20 points to 2,506.96 while the NASDAQ closed at 6,636.82 down 147.08 points. WTI oil was last seen at $47.20/barrel, +$1.72. 10-yr yield fell to 2.76%. Tomorrow's data includes Weekly Initial Jobless Claims and the Philly Fed.

New Home Sales Decline in OctoberThe Commerce Department reported this morning that New Home Sales fell 8.9 percent in O...
11/28/2018
New Home Sales Decline in October

New Home Sales Decline in October
The Commerce Department reported this morning that New Home Sales fell 8.9 percent in October from September to an annual rate of 544,000, below the 575,000 expected. However, sales in September were revised higher to 597,000 from 553,000. Sales were down 12 percent from October 2017. Across the country, sales fell in the Northeast, Midwest and the South with gains seen in the West. There was a 7.4 month supply of homes for sale on the market in October, above six months that is seen as normal. The median sales price fell 3.1 percent from a year ago, to $309,700.

Sales of new homes plunged in October. What happened to the September numbers? Read on.

I have the honor of sitting on the Board of Directors for this amazing charity.  Today is GIVING TUESDAY...please consid...
11/27/2018

I have the honor of sitting on the Board of Directors for this amazing charity.
Today is GIVING TUESDAY...please consider a donation to Connecting a Caring Community. We are a non profit that mobilizes the community into GIVING and raises important funds for those most in need.

The 1st 5 donors who give $500 or more will be invited to a very special event at UCLA Mattel Children's Hospital on Friday, Dec 7th in the morning. This event will be a hands on day with the patients and day you will always cherish.

The holidays are about giving and this is the perfect time to start. Please go to www.connectingacaringcommunity.org and give today (general donation button). No donation is too small, it all helps us help others. Or contact me directly.

With Gratitude. Marty

Untitled Album
11/27/2018

Untitled Album

11/27/2018

We have proudly donated to the Ventura County Community Foundation. Both for Borderline and Hill/Woolsey Fires.

The monthly Jobs report came out this morning.  It was fantastic.  After the previous months lower, hurricane related de...
11/02/2018
Employment Situation Summary

The monthly Jobs report came out this morning. It was fantastic. After the previous months lower, hurricane related declines, October was a great rebound.
October Non-Farm Payrolls rise 250K vs the 190K expected.
Unemployment Rate remains at a 49-yr low of 3.7%
Year over year wage growth rises 3.1%, highest since September 2009.
https://www.bls.gov/news.release/empsit.nr0.htm

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09/06/2018

August ADP Private Payrolls rise by 163K vs the 186K expected and down from the 217K reported for July.

06/05/2018

Home Prices Bloom in April

Limited inventories of homes for sale on the market continue to push home prices higher as "new construction fails to keep up with and meet new housing growth or replace existing inventory," according to CoreLogic Chief Economist Frank Nothaft. CoreLogic reports that home prices, including distressed sales, rose 6.9 percent from April 2017 to April 2018, while there was a 1.2 percent gain in April 2018 compared with March 2018. Looking ahead, CoreLogic forecasts a 5.3 percent increase in home prices from April 2018 to April 2019. Nothaft says, "More construction of for-sale and rental housing will alleviate housing cost pressures."

Home Prices Bloom in AprilLimited inventories of homes for sale on the market continue to push home prices higher as "ne...
06/05/2018
Home Prices Bloom in April

Home Prices Bloom in April

Limited inventories of homes for sale on the market continue to push home prices higher as "new construction fails to keep up with and meet new housing growth or replace existing inventory," according to CoreLogic Chief Economist Frank Nothaft. CoreLogic reports that home prices, including distressed sales, rose 6.9 percent from April 2017 to April 2018, while there was a 1.2 percent gain in April 2018 compared with March 2018. Looking ahead, CoreLogic forecasts a 5.3 percent increase in home prices from April 2018 to April 2019. Nothaft says, "More construction of for-sale and rental housing will alleviate housing cost pressures."

Home price gains continue their winning ways. Read on for the details.

The Fed raises the short-term Fed Funds Rate by 0.25% to 1.50% to 1.75% range.  Sees three rate hikes for 2018, raises o...
03/21/2018

The Fed raises the short-term Fed Funds Rate by 0.25% to 1.50% to 1.75% range. Sees three rate hikes for 2018, raises outlook for hikes in 2019, 2020. The Prime Rate now moves to 4.75%. This is the Highest since October of 2008. So what does this mean for you? Does this mean mortgage rates move higher as well? Not necessarlity for Fixed Mortgages.

Do you have a credit card debt, outstanding balances on a Home Equity Line of Credit, will you need a car loan soon? The interest rates on these will be rising in concert with the Prime Rate. What will your payment look like in 12 months if rates are up another 1%? If you have questions for you or your clients, feel free to contact us.

Freddie Mac reports that the pace of growth of home prices may moderate as higher interest rates pinch affordability and...
02/27/2018

Freddie Mac reports that the pace of growth of home prices may moderate as higher interest rates pinch affordability and tax bill shifts balance between buy and rent. Freddie Mac says amidst robust economic growth and pent-up demand for housing, it remains optimistic about the housing market in 2018.

02/14/2018

Mortgage rates continued to climb in the latest week as the 30-year fixed-rate mortgage rose to 4.57%, the highest since January 2014, as Mortgage Bond prices have moved sharply lower since mid-January.

The Mortgage Credit Certificate program provides benefits to first-time homebuyers by increasing affordability through a...
11/10/2017

The Mortgage Credit Certificate program provides benefits to first-time homebuyers by increasing affordability through a federal tax credit. Unfortunately, the current version of the proposed tax reform (H.R. 1) will impact the availability of affordable housing programs serving both homeownership and rental markets. Should the tax reform pass as proposed, it will eliminate CalHFA's ability to issue Mortgage Credit Certificates.

‘‘(k) TERMINATION.—No credit shall be allowed under this section with respect to any mortgage credit certificate issued after December 31, 2017.’’

09/05/2017

Treasury Sec Mnuchin reiterated in an interview with the Wall Street Journal that the mortgage interest rate tax deduction will stay put in the Trump administration's pending tax plans

08/09/2017
New Listing - 889 Muirfield Ave. Simi Valley CA

If you are looking in Simi Valley

Homes For Sale In Hollow Hills – Simi Valley CA New Listing - 889 Muirfield Ave. Simi Valley CA 93065 Contact the Ross Realty Group now at 888-262-8811. Home...

03/15/2017

Fed raises the short-term Fed Funds Rate by 0.25% to make it 0.875%. What does these mean for mortage rates? So far the bond and mortgage backed securities are enjoying a rally, meaning that our interest rates are moving down. Let's see how the next few days play out.

It’s time to spread some love! When you apply for a home loan with us in the month of February, we will donate $100 to...
02/15/2017

It’s time to spread some love!
When you apply for a home loan with us in the month of February, we will donate $100 to a charity of your choice at closing.
Contact our team today and let us prequalify you for your new home or evaluate your current mortgage situation.
https://calabasas.gemcorp.com

A Nice Year Over Year increase of 7.2% reported From December 2015 to December 2016.
02/08/2017
Mortgage Market Guide - Featured Charts

A Nice Year Over Year increase of 7.2% reported From December 2015 to December 2016.

CoreLogic, a leading provider of consumer, financial and property information, reported that home prices, including distressed sales, rose 7.2 percent from December 2015 to December 2016. From November to December, prices rose 0.8 percent. The U.S. has experienced 59 consecutive months of year-over-...

Have you been thinking about buying a home in 2017? If so, now is the time - rates are still low! With an FHA loan, you ...
01/18/2017

Have you been thinking about buying a home in 2017? If so, now is the time - rates are still low! With an FHA loan, you can put as little as 3.5% down AND they have just lowered their Mortgage Insurance Premiums! This means more purchasing power for you.

And if you are currently in an FHA loan, let’s look into a streamline refinance – no appraisal or income documentation required. The difference in monthly MI could save you at least the cost of a couple tanks of gas per month.

https://calabasas.gemcorp.com/

01/12/2017

S&P futures are lower after President-elect Trump gave little clarity on his campaign promises for boosting economic growth. Mr. Trump sent drug company shares lower citing high drug prices. His words sent the dollar lower and is declining this morning.

How does your mortgage interest rate compare to the current market? Can you save a chunk of money every month?
07/07/2016
Created using Mortgage Coach EDGE

How does your mortgage interest rate compare to the current market? Can you save a chunk of money every month?

Created using Mortgage Coach EDGE.

Which of these 4 speakers would you like to hear the most?
06/07/2016

Which of these 4 speakers would you like to hear the most?

05/30/2016

Memorial Day thought.....met a 27 year old kid (misnomer) on Friday. Marine. Two tours. The 2nd in Afghanistan. Had an unfortunate run in with an IED. He showed me pictures of his 6 month reconstruction of his face and recovery. Bright, bright guy. After the recovery went to a university in Colorado, graduated with a degree in engineering. Now working for an energy company.

Told me of the six soldiers/friends he lost with the IED experience. Worst part of it to him, "many of these soldiers had wives and families".

Says he hasn't done any therapy, group or otherwise.

He is living a full life with knowledge and a maturity of a man many years his senior.

He made a huge impression on me and I felt like sharing.

I can't truly express my respect and admiration for this man specifically, and US Military in general.

To those we've lost, and those who remain, thank you for everything.

Check out this 5 bedroom, Thousand Oaks upgraded home with a pool!  Contact Gail Dworkin at (818) 207-5985.
02/16/2016

Check out this 5 bedroom, Thousand Oaks upgraded home with a pool! Contact Gail Dworkin at (818) 207-5985.

12/10/2015

Congratulations to Stephanie Shanfeld - Calabasas Realtor Coldwell Banker Real EstatePriya Dua- Coldwell Banker and Stephanie's wonderful, prepared buyer. Escrow opened November 16th.....funded today and will record tomorrow. TRID SCHMID. Awesome job Holly Litmanovich, Lisa Gaynor at West Coast Escrow. Nice job to all.

12/01/2015

Good news for home sellers and buyers looking to hold for the long term.....Over in the housing market, CoreLogic reports that home prices, including distressed sales, rose 6.8% from October 2014 to October 2015. In a recent survey from Reuters, those economists polled feel that the housing recovery should continue into 2016.

GEM Mortgage Los Angeles's cover photo
11/19/2015

GEM Mortgage Los Angeles's cover photo

11/16/2015

Does this surprise anyone? We are becoming less dependent on foreign oil imports? HERE AND THERE - As of the end of October 2015, the United States was domestically producing 9.16 million barrels of crude oil per day while we were importing 6.94 million barrels of crude oil per day, i.e., a 57/43 split between domestic production and imports. As of the end of October 2010, the United States was domestically producing 5.59 million barrels of crude oil per day while we were importing 8.58 million barrels of crude oil per day, i.e., a 39/61 split between domestic production and imports (source: Department of Energy).

GEM Mortgage Los Angeles
11/09/2015
GEM Mortgage Los Angeles

GEM Mortgage Los Angeles

Mortgage Rates....Ugg...Moving on up!!
“No Bueno”…Mortgage Bonds are not looking good to start the week. The Bond touched its lowest level since July and is threatening to fall beneath an important support level as seen in the chart below. Friday’s Strong Jobs Report is getting further digested and the longer-term Bond maturities have come to the realization that not only are rates going higher, but they may be going higher because we might just be getting our first look at higher wages caused by a tighter labor market.

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23901 Calabasas Rd, Ste 2078
Calabasas, CA
91302

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