Market Rate Update...and A Healthy Fun Fix!

Rates continue at very attractive levels, but are not expected to last here for long. The current 30 year fixed rates are hovering at 4.75% for loans under $417,000 and 4.875% for those that are up to $729,000.

Five year adjustable rates are still between 3.5% to 3.75%, based on loan amount. Of course these rates depend on a number of factors, such as FICO score, Loan-to-value, total debt ratios, property type, purpose of loan, i.e. purchase, cash-out refinance, etc.

Speaking of loan-to-value, although values appear to be stabilizing in most areas of Southern California, I am still seeing appraisals resulting in values lower than property owners expect. Be advised that appraisers must put the most emphasis on recent sales (primarily in the last 3 months) that are comparable in terms of age, size and amenities. Unfortunately, as we all know, the majority of sales are foreclosures or short sales.

Now for the Fun Fix…
For those of you who don’t know me well, I love Zumba. Well, to be honest, I love to dance. And Zumba class satisfies my itch in addition to providing a fabulous workout.


Cumbia has become my favorite dance, then Salsa, but Samba is the most aerobically demanding. I read an article in the Wall Street Journal today about an author who swears by Zumba and its health benefits. Read about her at www.wsj.com/workout.

I usually take classes at 24 Hour Fitness, but they are offered at many gyms and YMCA's etc. You can locate a class or an instructor anywhere in the world, at the Zumba website by just plugging in a City, Zip Code, or an Instructor name. www.zumba.com

Zumba uses a whole bunch of muscles we don’t normally use here in the good ‘ole USA, with a LOT of hip action. I hope to see you there sometime! You can’t miss me, I will be the one laughing!