Mortgage California Ranked #3 Company to Work For In Bay Area

In the Sunday edition of the Mercury News, the Bay Area News Group published their February survey results of the Top Work Places. We were ranked #3 for mid-sized companies (150 to 500 employees). The rankings were based upon surveys completed by employees which makes this honor even more special.

We also received a special award in the area of Ethics for the way we conduct business. Below are links to the rankings, our profile, the special awards listing, and information about how the rankings were compiled. Don’t miss the picture of the “worker bees” which was printed on the front page of the special section in the newspaper.

Mercury News Top Workplaces List

Mortgage California Profile

Ethics Award

Mortgage Californiamentioned in Open Communication article in SJ Mercury

Congratulations, and especially thank you, to all employees and clients for making this one of the best places in the Bay Area to work! Mortgage California is currently hiring loan officers; take a look at our website to get in contact and learn more.

“This is a huge honor, and purely reflective of all of [the employees'] individual efforts and dedication to each other,” said Rob Reid, CEO. “I am very honored to be part of this great team.”

Strong companies thrive on open communication with their employees

Mortgage Rates Set New 2011 Low...And Home Prices are on the Rise

Mortgage rates have continued their decline and have set yet another 2011 low, according to the Wall Street Journal.

A decrease in new jobs has caused the mortgage rates to fall to the lowest point of the year. The decline in fixed rates represented the eighth-straight weekly fall.

This is a result of the statement by the Bureau of Labor Statistics this week that employers did not add nearly as many private-sector jobs as they expected.

Freddie Mac’s most recent survey shed light on the lower rates, and the downward trend is continuing.

Contact me to see if you can take advantage of these low rates.

Here is an article from realtor.org on the predication on why home prices will rise...

http://www.realtor.org/rmonews_and_commentary/economy/1106_economy_homesales

Houses are More Affordable Now Than In The Last 35 Years

Statistically speaking, this is the best time to buy a home since your parents took the plunge 35 years ago, according to the housing affordability index.

But maybe you’re tired of hearing about statistical matters and just want to know how this affects your pocketbook.

If your parents bought a home in 1963, it probably cost them 43 percent of your dad’s income to finance it. If they were buying that same home right now, it would take only about 22 percent of their monthly income to finance it.

The National Association of Realtors today recommends an average of 25 percent of an individual or family pretax income. That means no more than 25 percent can be spent on mortgage payments, taxes, insurance and utilities.  Because the affordability index is now 22 percent, a home buyer would be in a better position than the association recommends.

Still, people who need a home may be confused about whether this is a good time to buy. They wonder if it will cost even less to buy a home in the future.
That isn’t likely to happen, because interest rates and inflation have a big impact on the true cost of buying a home. And both are going up.
The chief economist at Moody’s Analytics says, “Based on incomes, this is as affordable as it gets. If you can get a loan, these are pretty good times to buy.”

For renters, that is especially true. Those who are renting a nice apartment or home for $1,000 a month, for example, will typically experience a 3 percent rise in their rent per year.

At that rate, over the next 10 years, they would pay a total of $137,567 in rents.