There is a very interesting article in the Los Angeles Times regarding mortgages and whether it is better to go with an online provider or with a local bank. Interestingly, it seems - according to the article - that online providers have less to gain in terms of commissions, etc. This doesn't mean you shouldn't go with your local bank, but it is an important consideration. For more check out the article, How lenders compare

You've heard it everywhere. The real estate market is crashing, right?

I say hold on, not so fast. I'm not saying it won't crash, I'm just saying it might not crash as fast as everybody seems to think, or even at all. For more read Will falling energy prices buoy the real estate market? .

Sure mortgage applications are down almost 23% compared to a year ago - but applications are still up almost 5.3% on a week-to-week basis. Ultimately, real estate markets can be largely driven by psychology, and the word has been bad on the street regarding real estate. Nonetheless, energy markets are dropping as gasoline prices quickly slide down towards $2.00.

This reduction in energy prices could lead to increased consumer confidence, which might spur even further mortgage activity, especially if mortgage rates take one last significant dip.

If you are seeking to buy a house in Los Angeles or Southern California, then you know how hard the process can be with home prices so high. Even with mortgage rates at historically low levels, it is still almost impossible for the average buyer to afford a mortgage for the average home. For an interesting article on some creative ways to finance a home purchase, check out the article 7 creative ways to buy your first home.