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LIBOR Is Going Away: What That Means, What's Replacing it, and How It Will Affect Mortgage Rates


The Intercontinental Exchange London Inter-Bank Offered Rate (also known as the LIBOR or ICE LIBOR) is a benchmark rate that is connected to over $350 trillion dollars in debt. After decades of being the primary benchmark for short-term interest rates, LIBOR will no longer be published and will be replaced by an alternative benchmark rate by 2021. In this article, we’ll be reviewing how LIBOR functions, the problems with it as a benchmark, what will be replacing it, and how the change will affect mortgages.

The Basics of LIBOR

Bank Vault

To understand how LIBOR works, you have to understand what a benchmark rate is. Also known as base interest rates, benchmark rates are used as a starting point when calculating certain types of interest rates. Most commonly used for adjustable interest rates, the benchmark rate is combined with a ...

Success Story: Jumbo Loans, Tiny Close Times


For the purposes of this article, we will refer to our happy client as Jeremy.

Buying a home involves shopping, getting approved for a loan, preparing/signing documents, verifying information, and several other steps that can make home buying lengthy for even the most qualified borrowers. As such, a unique financial situation or an inexperienced team can extend the process even further. Many people looking to move have various time constraints associated with their purchase transaction, so it is very important to work with professionals who are able to work well under pressure. Jeremy, one of our clients, found out just how much time buying a home can take. Luckily for him, he had RWM Home Loans on his side.

Jeremy received an exciting new job in California that needed him immediately, so he and his wife quickly made the decision to move from Hawaii to San Diego. The couple found themselves in a seller’s market, which means purchasing a home is highly competitive, so they immediately made an offer on a home that fit their needs. Due to their exceptional planning, the offer was accepted by the seller! Now all our client ...

June Financial Report

Abstract Building - Photo By Samuel Zeller
Photo by Samuel Zeller

The top San Diego economic news stories, real estate statistics, bond rates, stock indices, and more for the month of June.

  • The San Diego County Planning Commission approved a development of 2,000 homes near San Marcos.

  • San Diego Mayor Kevin Faulconer proposed regulations for short-term rentals in San Diego, allowing two rental sites per host with no limits on sites per host in Mission Beach.

  • The median home sales price for the month was $575,000 dollars, which is the same as the median home sales price in May, but it is 6.48% higher than it was in June 2017.

  • There were 3,395 homes sold over the course of the month. This is down 7.57% from last year, but it is 10.12% higher than it was last ...

Just In Time for Foster Youth: College Bound

In 2016, there were almost 440,000 foster children in the United States, and if the current rate of increase continues, that number will be higher for 2018. Because of this, the foster care system comes up as an issue for the media and politicians, with the most recent foster care federal legislation being signed into law in February 2018. While the foster care system has a lot of eyes on it, what many people don’t consider are the struggles that those exiting the foster care system face. This is where Just in Time for Foster Youth comes in.

Just in Time for Foster Youth is a non-profit organization that provides assistance to young adults aged 18 to 26 years old who are leaving foster care. There is a gap in social services for young adults in this age group since governments and charities tend to focus on addressing homelessness within the age group. However, that can be too late for many since 40 to 50 percent of foster youth become homeless within 18 months of leaving foster care. Former foster youth have difficulty finding adequate work as well, since 60 percent live in extreme poverty with incomes of $6,000 dollars or less.

In order to curb these statistics, Just in Time for Foster Youth focuses on creating a supportive network ...

May Financial Report

Jun 6
Category | General

May Financial Report


  • Construction has started on redevelopment of Manchester Pacific Gateway, which houses regional Navy headquarters.
  • Construction on a $1.5 billion dollar waterfront begins.
  • The median home sales price for the month was $575,000 dollars. This is 8.749% higher than it was in May 2017 and up 2.86% from last month.
  • There were 3,083 homes sold over the course of the month. This is down 5.08% from last year, but it is 7.42% higher than it was last month.
  • The median number of days on market for homes sold during the month of May was 16 days. This is down 6.67% from last year, but unchanged from last month.
  • 31.2% of homes sold this month were sold for higher than their listing price. This is down 2.5% from last year and 0.13% higher than it was last month.
  • This month, there were 4,096 listings that came on the market, which is 0.41% lower than last month’s amount of new listings.
  • The median price per square foot for May 2018 was 367. This is 9.23% less than it was last year, but only 0.27% higher than it was last month.

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