A blog about the economy and the Sacramento-area real estate market.
September 10, 2010
September 7, 2010
September 7, 2010
The California Housing Finance Agency announced this morning that it's making new, less expensive 30-year fixed-rate loans for-first time homebuyers who meet low- and moderate income guidelines.
Details are here in this news release. More details are in this Web page from CalHFA, including county-by-county income limits for the program.
CalHFA Executive Director Steven Spears says the option helps qualified first-time buyers get around the some of today's extremely tight rules set by conventional lenders.
Spears said: "Housing finance agencies around the country have historically played an important role in each state's housing market. With the disruption in the credit markets over the last two years, we have been limited in our ability to help finance home purchases. This new program offers
Those interested can check with a CalHFA-approved lender or call CalHFA at 1-877-922-5432.
September 1, 2010
Most small business owners in California are afraid the economy will go into a double-dip recession.
A survey released today by Citibank says 85 percent of the state's small business owners are concerned about a double dip.
The findings are in line with growing pessimism among some economists.
The survey added that 74 percent believe they've prepared themselves for another downturn. Some 67 percent say they've changed the way they're doing business, with many reducing their debt, increasing cash reserves or imposing hiring freezes.
Only 28 percent said their businesses are better off today than a year ago; 51 percent said they believe their business will do better over the next year.