January Thoughts

Happy January!

As a mortgage broker the last couple of weeks have been just a little busy, a few market events in Europe combined with only fair jobs reports have sent the mortgage rates to 30 month lows. Combine that with the increased home values here locally and we have a number of people looking to refinance. Take a look at the table at the bottom of the page to see the current average mortgage rates.

I hope your 2015 has started out well. In mid December we made plans to take the horses camping and head south to Santa Barbara for a few days to get someplace that was “warmer”. That didn’t work out so well, since that was the week that California was in a freeze. The first night it rained, then the next few days it was in the 20’s at night and only got into the low 50’s during the day. One morning we woke up to burst water pipes at the campground. But hey, we got out, we did a little hiking, did a little horseback riding, met some friends for dinner and stayed in our nice cozy living quarters trailer with the heater running.

I’m heading to Mexicali Mexico later this week for a couple day scouting trip. The church group I’m part of will be going to Mexicali in early April so on this trip we just do some of the logistical planning for the larger team. It’s one of those in and out trips with more time spent traveling than in Mexico itself, but keep us in your thoughts and prayers please.

So who get’s flu shots and what is your experience? I have avoided them over the years, but I find it interesting that my daughter and three kids all got the flu shot this year, and yet this last week all of them have come down with the flu. Now granted the symptoms don’t seem to be hanging on real long, but each one was clearly diagnosed with the flu. At the same time Joann and I who didn’t get the shot, and were with these sick people for 5 days, and yet we so far we have not got sick. Makes we wonder about the benefits.

Speaking of medical practices, has anyone tried acupuncture? I had my first session last week and it was not as bad as I had built up. I’m trying to find a more permanent solution to my plantar fasciitis. I’ve been dealing with this for off and on for 10 years. The medical doctor wants to start on steroid shots, as an alternative I’ve decided to be a pin cushion. I’ll let you know my status next month.

Trivia for the month:
Today’s Question – What am I missing – Here’s one that someone found in a puzzle book.  There is one letter (a vowel) missing from this series.  If you add the letter several times and separate the words to make a sentence.  (Hint the vowel should appear 17 times.)
“HGRTDTHLVNXTRMLYWLLDRSSDGNTLMN”

Last month’s question: Late for Thanksgiving dinner, Bob called the baker to see how many pumpkin pies he had left.  The overworked baker snapped – “I have 3/4’s of the total plus 3/4’s of one pie.”  Assuming he sold only whole pies, how many did he have?

Answer – The baker had 3 pies left.  Three quarters of 3 pies is 2 1/4 pies plus 3/4 of 1 pie = the 3 pies

It’s kinda amazing what a difference a few miles down the freeway makes. Take Morgan Hill and Gilroy, approx 9 miles apart on 101 and about 10 minutes drive.

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Morgan Hill-Gilroy Comparison Jan. 19,2015
Morgan Hill median sales price $899,950 vs. Gilroy: $740,340
Morgan Hill av’g days on market: 73 vs. Gilroy: 73
Morgan Hill median size: 2,321 vs. Gilroy: 2,594
Morgan Hill median $/sq. ft: $377 vs. Gilroy: $300
This includes condo’s and single family homes. Data pulled from Movoto.com

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Mortgage Interest rates dropped lower over the last couple of weeks to 30 month lows per mortgagenewsdaily.com pls note most of these rates shown are with borrower paying an typically 1.0 point in fees.

Product    Today    1 yr Low     1 yr. High
30 Yr FRM    3.63     3.60     4.56
15 Yr FRM    3.00     2.98     3.55
FHA 30 Year Fixed     3.25     3.25     4.25
Jumbo 30 Year Fixed    3.60     3.58     4.38
5/1 Yr ARM    3.22     3.17     3.26
Updated: 1/16/15

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