Financing

Jun 30

Home shoppers! Here are 6 tips to help save for your new home

In recognition of American Housing Month, Housing Wire reports on the American Bankers Association Foundation  six tips to help consumers cut costs and start saving. 1. Develop a budget and timeline Start by determining how much you’ll need for a down payment. Create a budget and calculate how much you can realistically save each month – that …

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Apr 26

US mortgage rates remain low as home-buying season starts

April 21, 2016 Long-term U.S. mortgage rates stayed near 2016 lows this week, potentially good news for the housing market as the spring home-buying season begins. The average 30-year fixed-rate mortgage edged up to 3.59 percent from 3.58 percent last week. The 15-year fixed-rate mortgage slipped to 2.85 percent, lowest since May 2013, and down …

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Feb 26

Still Underwater? Consider a Short Sale…

  Even with the increase of home prices in some areas, other areas are slower to recover  There’s good news for homeowners considering a short sale: the HAFA program has been extended through the end of 2016.  HAFA® provides homeowners the opportunity to exit their homes and be relieved of their remaining mortgage debt through …

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Feb 02

Where Are Interest Rates Headed in 2016?

With interest rates still below 4%, are you sitting on the fence … act now and purchase a new home, or, wait until next year? However, if you look at what the four major reporting agencies are predicting for 2016, it may make the decision for you. The chart below averages the predictions by quarter. With the …

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Dec 16

How long does it take to save a down payment for your new home?

​​ ​​ How Long Does It Take To Save A Down Payment? ​  In a recent study conducted by Builder.com, researchers determined that nationwide it would take “nearly eight years” for a first-time buyer to save enough for a down payment on their dream home. By determining the percentage a renter spends on housing in each state and the amount …

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Sep 20

​Home Prices Rising! Appraisers say WHOA!

​I recently helped my clients handle multiple offers on their home, and one of the issues that came up was the appraisal. My clients, the Sellers, were requesting that the potential Buyers waive the appraisal contingency and the Buyers resisted. While I do research properties extensively for market value price points, with multiple offers the actual sale …

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Apr 09

Oh my! The difference a year can make!

 Important Points To Consider: The latest Freddie Mac Primary Mortgage Market Survey reports the 30-year fixed rate at 3.7%. Freddie Mac’s projection for Q2 2016 is that the rate will be 4.7% (a full percentage point higher) The Home Price Expectation Survey predicts that home prices will appreciate by 4.4% during this same time The …

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Jan 13

Did It Make Sense to Wait?

Over the course of last year, many people debated purchasing a home, but ultimately did not. Let’s look at whether the decision to wait to buy made sense financially. What happened in 2014? The 30 year fixed rate on January 2, 2014 was 4.53% as reported by Freddie Mac. Looking at the chart below, the monthly mortgage …

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Aug 30

Why don’t more home buyers take advantage of lower borrowing costs?

Demand for Mortgages is Down Fixed-rate mortgages sank to the lowest average of the year last week, yet mortgage origination activity remains lackluster. In a recent blog post, Freddie Mac analysts point to three main factors behind the decrease in mortgage originations: The refinancing boom has ended. From 2013 to 2014, mortgage applications for refinancings have fallen …

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Aug 21

Where are mortgage rates headed?

The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to look at where rates are headed when deciding to buy now or wait until next year. According to a recent article in Kiplinger, 30 …

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