17 Nov 2020
By Mortgage Blog Content

A Late Payment: Credit Score Impact

Mortgage
This has been a difficult year for everyone. There are a lot of people who are worried that they might not be able to keep up with their mortgage payments. Small businesses have had to close their doors and numerous individuals have been laid off from work. It is important for homeowners to understand that banks do not want people to foreclose on their homes either. Therefore, they are often willing to work out an alternate payment plan with homeowners who are struggling due to dire financial situations. Those who are late on a mortgage payment might be wondering how this is going to impact their credit score. The answer is that…
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16 Nov 2020
By Mortgage Blog Content

What’s Ahead For Mortgage Rates This Week – November 16, 2020

Financial Reports
Last week’s economic reporting included readings on inflation and consumer sentiment along with weekly readings on mortgage rates and jobless claims. Federal Reserve Chair Jerome Powell and Federal Reserve Board members addressed economic expectations resulting from the COVID-19. Chair Powell said that there would be no quick fix for the economy and that the economy would suffer for four to six months until the pandemic slows. He also said that a COVID-19 vaccine would not be a panacea for the virus and said that “ the next few months could be challenging” as the virus spreads at a faster pace. Inflation Stalls as Pandemic Progresses The Commerce Department reported no growth…
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13 Nov 2020
By Mortgage Blog Content

Three Hot Renovations That Will Boost Your Home’s Value Without Breaking the Bank

Around The Home, Home Buyer Tips
Are you feeling the "renovation itch" or perhaps looking for a fun project that you can take on which will provide you with a return on your investment? There are numerous home upgrades and renovations that can add value to a home without costing a large sum of money to complete. Let's take a look at three popular home renovations that can increase your home equity without draining your bank account. Paint Your Home Inside and Out Painting the interior or exterior of your home costs very little when compared to how much it can freshen up your home's appearance and increase its value. Painting is also an excellent time to…
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12 Nov 2020
By Mortgage Blog Content

How Are Different Mortgage Lenders Handling Student Loans During the Pandemic?

Mortgage
The coronavirus pandemic has had a massive impact on everyone. This pandemic has led to massive economic issues as well. Given the ongoing crisis as it relates to student loan debt, many students are wondering how the pandemic is going to impact their student loans and how their student loans are going to impact a potential mortgage payment. There are a few points to keep in mind. Freddie Mac In general, loans backed by Freddie Mac are going to use the student loan payment that is marked on the credit report. If this amount is $0 or unknown, then the lender is going to use 0.5 percent of the outstanding loan…
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10 Nov 2020
By Mortgage Blog Content

A Few Simple Ways To Upgrade The Kitchen Pantry

Mortgage, Real Estate Trends
During the past few months, people have been spending much more time at home than usual. Therefore, many people are looking for ways to upgrade their homes. A common area of focus is the kitchen. Even though many people are thinking about upgrading cabinets and countertops, the kitchen pantry should also be a target for home improvement. There are a few simple ways that everyone can improve their kitchen pantry.  Use Vertical Storage One of the top tips for everyone to follow is to use vertical storage capacity. It is a smart idea for everyone to build in a few extra storage areas by thinking about under-shelf baskets. These baskets can…
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09 Nov 2020
By Mortgage Blog Content

What’s Ahead For Mortgage Rates This Week – November 9, 2020

Financial Reports
Last week’s economic news included readings on construction spending, the Fed’s Federal Open Market Committee statement, and a press conference by Federal Reserve chairman Jerome Powell. Labor data on public and private sector jobs and the national unemployment rate were reported along with weekly readings on mortgage rates and jobless claims. Residential Developments Lead September Construction Spending High demand for homes continued to fuel home construction, but public and non-residential construction spending was slower according to the Commerce Department. Residential construction spending rose by 2.70 percent on a seasonally-adjusted annual basis while public construction spending decreased by -1.70 percent and non-residential construction spending dropped by -1.60 percent. Changing priorities for home…
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