BREAKING NEWS – FHFA eliminates the 50bps Adverse Market Refinance Fee which will SAVE homeowners when they refinance.  Fee elimination will go into effect for loans delivered to Fannie Mae & Freddie Mac on 8-1-2021.  You can read more here:

Mortgage Rates are flat today since last Friday as the bond market continues to hold in a steady pattern after friendly Fed speak by Chairman Powell before congress this week.  We must still remain mindful that bond tapering will being at some point in the not to distant future and rate WILL JUMP HIGHER as soon as the Fed announces intentions.  My expectation is that we will hear communication of this news before the end of 2021.

Also noteworthy, over 4% of homes for sale had price drops, and pending sales are down more than 10% from their 2021 peak.


Keith Murphy Branch Manager – Essex Mortgage NMLS #330827

Direct: 714-309-1140


About the Author

Tim Morissette, also known in the community as Mr. Foothill Ranch, offers over 46 years of real estate experience which has given him an established reputation and unmatched market knowledge. He is joined by his wife, Michele and sons Matt and Jeff, as they continue to offer personal service with an emphasis on achieving his clients’ real estate goals.  This unique combination of traits has led to his proven track record of referral and repeat business. This can be witnessed by the trust of homeowners in Foothill Ranch where he has sold twice as many homes and represented three times more buyers than the next-leading real estate agent for the last 26 years.

As residents of Foothill Ranch since 1994, Tim and Michele are actively involved in the community by fundraising for Foothill Ranch Library, Make-a-Wish Foundation, Cancer Society, Homes for Habitat, Relay for Life, South County Outreach, and the local church and schools. Tim enjoys sponsoring community-wide garage sales, paper shredding and e-waste recycling event, an Easter egg hunt, & a Meet Santa Event.

Tim and Michele are dedicated to their family of four sons, daughter-in-laws, and grandchildren. As a family, they enjoy many outdoor activities which include camping, spearfishing, mountain climbing and exploring the miles of hiking and equestrian trails in Foothill Ranch and the Whiting Ranch Wilderness Park. Tim and his sons are also avid snowboarders and enjoy mountain biking and lobster diving. Family is a top priority in the Morissette household. They look forward to helping more families achieve their dreams of homeownership.