Should I Shorten My Mortgage Term, Important Factors To Consider

When you first bought your home a few years ago, perhaps you started off with a 30 year mortgage. Now, you are considering refinancing and changing it to a 20 year or even a 15 year mortgage. Shortening your mortgage term and refinancing can be a smart financial move, but before you make this decision there are a number of factors that you should consider. Switching to a shorter mortgage will mean that your monthly payments will be higher, but you will be 100% paid off much sooner and you will save thousands of dollars in interest rates. Here are a few of the factors to consider before making this decision:…
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What’s Ahead For Mortgage Rates This Week – January 11, 2021

Last week’s economic reports included readings on construction spending and reports on the national unemployment rate and job growth. Weekly reporting on mortgage rates and jobless claims were also published. Construction Spending Increases as Demand for Homes Rises Homebuilders responded to increased demand for single-family homes and increased their spending in November. Construction spending rose by 0.90 percent as compared to projected spending of 1.10 percent and  1.60 percent growth in November. Demand for homes increased in recent months due to the coronavirus pandemic. Homeowners left urban areas and bought larger homes in suburban and rural areas. Low mortgage rates, flight from cities, and needs related to working from home and…
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Three Subtle Painting Tricks That Will Make Your Home Look Amazing

When it comes to painting the walls of a house, sometimes subtle is best. You want to add design, color, and texture to the walls, but you don't want it jarring to the eyes. Here are three subtle painting techniques you can try on your home walls. Tissue Paper Texture One easy way to add texture to walls is to use tissue paper. You apply the tissue paper to the walls and it stays there until you want something new. Crumple up a piece of tissue paper into a tight ball and then open it up and smooth it out. Small textured lines will appear on the paper. Those lines will…
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The Top House Appraisal Tips For Home Buyers And Sellers

There are a lot of steps that come with buying or selling a home. One of the routine steps that have to be accomplished is called a home appraisal. When it comes to a home appraisal, this is something that can cause both buyers and sellers to pause for a second. For those who might not know, a house appraisal is where a trained professional will take a look at the fair market value of the home. It is important to understand what happens when a home appraisal is conducted.  Compare The Home To Similar Properties When a home appraisal is conducted, its value is usually compared to homes in the…
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Tips For Getting A Mortgage Application Approved

Right now, mortgage rates have fallen to rates that haven’t been seen in years. This opens the door for many people to apply for a mortgage that they previously may not have been able to afford. Sadly, not everyone who applies for a mortgage is going to be approved. There are a few steps that applicants can take to increase their chances of getting their mortgage application approved. Increase The Credit Score Applicants need to make sure that their credit scores are as high as possible when they apply for a mortgage. The greater the credit score is, the more trustworthy they look to lenders. In general, applicants are going to…
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What’s Ahead For Mortgage Rates This Week – January 4, 2021

Last week’s economic news included reports from Case-Shiller Home Price Indices and data on pending home sales. No weekly data on jobless claims were released due to the New Year holiday, but Freddie Mac did issue its weekly report on average mortgage rates. Case-Shiller Reports Home Prices Reached 6-Year High In October U.S. home prices reached their highest level in six years according to Case-Shiller’s National Home Price Index. Home prices rose by 8.40 percent year-over-year in October as compared to September’s home price growth reading of 7.00 percent. Demand for homes rose during the Covid pandemic as families moved from congested urban areas to less crowded suburbs and rural areas.…
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