My City Financial

05/06/2026

The bond market rallied today due to optimism regarding a U.S.-Iran peace deal. The 10-year yield, a benchmark for mortgage rates, currently sits at 4.347%.

Generally, falling yields and rising bond prices reflect increased demand for safe investments, signaling caution in the markets.

Current Rates*:
30 year - 5.875%
15 year - 5.25%

For a specific rate quote or scenario, call or email:

Joe Mathai
Senior Loan Officer
Notary Public
562-805-3027
[email protected]

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www.mycityfinancial.com
NMLS # 307431

Rates are guaranteed when interest rates are locked!
* Individual loan parameters differ: call for apr

My City Financial home loans since 1994

11/05/2024

Election day and the financial markets...

ING Analyst, Francisco Pesole, says “Despite some unwinding of Trump trades, asset markets are still broadly pricing in a Trump win. As things stand now, we expect the dollar to sell off if Harris wins, while the impact of a Trump win may depend more on the Congress composition".

Nevertheless, based on the recent financial numbers on jobs, consumer debt, and inflation, we are most likely going to see a quarter-point rate cut on interest rates soon 👍👍👍

10 year treasury yields as of this morning is 4.314%.

05/10/2023

Mortgage and Interest Rates Update:

This morning, the Federal Housing Finance Agency (FHFA) announced that it would rescind their controversial loan-level price adjustments (LLPA) for Conventional borrowers with debt-to-income (DTI) levels at or above 40%. This is the best news ever for our financing community.

The 10 year yield today is 3.43%. A year ago it was 3.05%
A better, and easy digital mortgage experience - Apply Online!
www.mycityfinancial.com

Mortgage Questions? Call us for a tailored interest rate quote.
866-219-7773

New 2023 Loan Limits:
Conforming - $726,200
High-Balance (Conforming) loan - $1,089,300

Established 1994
BBB rating A+
Credit Check and Notary Services Available

09/21/2022

Market Update:

Today, the US Federal Reserve is expected to raise interest rates.

This is significant because US inflation measured is at an all time high which is a big concern to the Fed committee. Pricing in every sector is now becoming too expensive. More importantly, the world is taking notice as many countries are now raising their interest rates to curb down inflation and hopefully thwart a recession.

The 10 year yield today is 3.57%. A year ago it was 1.31%

Purchase or Refinance - Call or Log on for a rate quote!
Guaranteed the best Rate with fast Closings!
www.mycityfinancial.com
866-219-7773

New 2022 Loan Limits:
Conforming - $647,200
High-Balance (Conforming) loan - $970,800

Established 1994
BBB rating A+
Notary Public

My City Financial home loans since 1994

05/04/2022

Today, the Federal Reserve raised short term interest rates by a half-percentage point. It was 22 years ago that the Fed’s raised interest rates so aggressively.

In their meeting, Fed Chairman Powell reiterated that it is important to get a handle on the worst inflation America has seen in 40 years. Additionally he said, “The implications for the US economy are highly uncertain,” and “The invasion and related events are creating additional upward pressure on inflation and are likely to weigh on economic activity”.

Interestingly, the Fed will be rolling off its massive balance sheet starting June to August which is expected to be $30 billion worth of Treasury securities and $17.5 billion worth of mortgage-backed securities before adjusting $60 billion and $35 billion in September respectively.

The 10 year yield today is 2.92%. A year ago it was 1.67% contributing to the lowest interest rates in US mortgage history.

Purchase or Refinance - Call or Log on for a rate quote!
Guaranteed the best Rate with fast Closings!
www.mycityfinancial.com
866-219-7773

New 2022 Loan Limits:
Conforming - $647,200
High-Balance (Conforming) loan - $970,800

Established 1994
BBB rating A+
Notary Public

My City Financial home loans since 1994

03/16/2022

Today, the US Federal Reserve raised short-term interest rates for the first time since 2018. The committee is projecting at least 6 more rate hikes this year as they are concerned of rising prices. The goal is to curb inflation which was measured to be 6.1% in February. The target goal is to bring it down to 2 percent.
The current 10 year yield is 2.19%. A year ago this time the yield was 1.74%.

Since 1994, we have helped so many homeowners finance their new home purchase including refinancing their current loan to a lower fixed rate. You will always receive personal service from us!

Purchase or Refinance - Call or Log on for a rate quote!
www.mycityfinancial.com
866-219-7773
BBB rating: A+
Notary Public

New 2022 Loan Limits:
Conforming - $647,200
High-Balance (Conforming) loan - $970,800

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My City Financial home loans since 1994

02/02/2022

Federal Housing Finance Agency (FHFA) recently announced substantial loan-level price adjustment changes for two specific loan scenarios:

1. Second homes
2. High balance loans (except for first time homebuyers with income less than the area median)

Basically it means that upfront fees for high balance loans will increase between 0.25% and 0.75% based on loan to value (LTV) ratio. For second homes, it will increase between 1.125% and 3.875% also based on LTV ratios.
**Jumbo loans already factored the above into their pricing hits**

Conforming loan limit - $647,200
High-Balance loan limit - $970,800

Purchase or Refinance - Best Rates and Fast Closings!
www.mycityfinancial.com
866-219-7773

BBB rating: A+
Est. 1994
Notary Public
"Like" us on Facebook

My City Financial home loans since 1994

05/14/2021

As we see our country and economy slowly rebounding from the past year, many people are now in a position to refinance or even purchase a home but are faced with certain loan guidelines resulting from Covid-19 hardship.

Both servicers, Fannie Mae and Freddie Mac, have certain options available after a forbearance plan which include the following:

1. Reinstatement
2. Repayment Plan
3. Covid-19 payment deferral

The key is to always be in communication with your lender about your personal hardship situation and challenges. As long as you continue to make your mortgage payment either through modification or deferral then you will not be penalized nor your credit be affected.

In regards to refinance, it is important for a borrower(s) that exits a forbearance and enters a loss mitigation plan, will now be eligible for a new mortgage loan after making at least three timely, consecutive payments as of the note of the transaction. Some lenders require the entire deferred amount to be paid.

Remember, the federal foreclosure moratorium ends 30th June, 2021. It may seem complicated but if you have any questions please call our office to discuss your situation.

Rate Alert: Our 15 year conforming loan up to $548,250 today is at 2.125% at Zero Points! Rates are subject to change if not locked!

Purchase or Refinance - Best Rates and Fast Closing's!
www.mycityfinancial.com
866-219-7773
Notary Public
BBB rating: A+

Est. 1994
"Like" us on Facebook

My City Financial home loans since 1994

02/18/2021

For my Realtor partners and friends seeking professional photography for their listing's and video shooting including drone work, please consider calling Mr. Lijo Joy at 760-472-6035.

I know him since he was a young teenager and knew his father and mother well since the early 80's. He is kind, patient, and professional with his service. You will be impressed!

Purchase or Refinance
www.mycityfinancial.com
866-219-7773

Notary Public
BBB rating: A+
Est. 1994
"Like" us on Facebook

01/21/2021

Amidst the most historical Presidential day in United States history, it was also a nostalgic and sentimental moment for our company as one of my early client’s made a surprise visit and treated our office staff this morning.

Mr. George Lasrado was so pivotal in building the foundation of my real estate financing business back in 1994. He whole heartedly valued my input and trust as I was blessed to be an important part of his many successful investments including being a resource to his large network of family, and friends. Now Mr. Lasrado is retired, content, and truly living the American dream!

I praise God for his continual love, friendship, and trust with me and my family. God bless you George and Clara!

Purchase or Refinance
www.mycityfinancial.com
866-219-7773

Notary Public
BBB rating: A+
Est. 1994
"Like" us on Facebook