Author: Mortgage Blog Content
01
Nov
2021
Last week’s economic reports included readings on home price growth from S&P Case-Shiller Home Price Indices, data on new home sales, and the University of Michigan’s Consumer Sentiment Index. Weekly readings on mortgage rates and jobless claims were also published. Case-Shiller: Home Price Growth Slower, but Prices Aren’t Falling National home prices rose by a seasonally-adjusted annual pace of 19.80 percent in August, which was incrementally lower than July’s year-over-year home price growth rate. Analysts said that rising mortgage rates caused some buyers to leave the market and eased demand in areas where bidding wars drove home prices beyond market value in some areas. The S&P Case-Shiller 20-City Home Price Index…
29
Oct
2021
Purchasing a home is an exciting time, but there is also a lot to manage. There are a lot of text messages, phone calls, and emails coming in. It is important for potential homeowners to keep them straight. Who are some of the most important people during the purchase process? The Real Estate Team First, there are going to be a lot of important people on the real estate side of this transaction. Every home buyer should work with a real estate agent who can help them assess the market, arrange showings, and find the right home. There might also be interactions with other agents along the way who represent sellers.…
28
Oct
2021
There are many homeowners who are looking for help with storage. Even after moving in, many homeowners still have a lot of items they need to get rid of and this is where built-in storage solutions can be helpful. Even though some storage options might be pricey, there are inexpensive options available as well. Take a look at a few solutions below, and improve the storage situation. Use Space Under the Stairs One option that many homeowners overlook is the space under the stairs. If there is a second story, there may be an area under the staircase that looks like a storage space. There should be plenty of opportunities to…
27
Oct
2021
When it comes to your mortgage, there are a lot of key terms that are important for every homebuyer to know, and this is no less true than when it comes to refinancing your most important investment. Instead of leaving what's unknown up to chance, it's important to be aware of exactly what you're looking at so you can get the best mortgage product available. If you're currently considering refinancing and don't want to get snared by unknown terminology, here are some terms you'll need to watch out for. Cash-Out Refinance This type of refinance is a transaction where the home's mortgage amount is higher than the existing mortgage amount, and…
26
Oct
2021
The FHA streamline refinance is not right for everyone, but if rates significantly dropped or you can afford a fixed-rate loan and want out of an ARM, it can make sense. If you’ll stay in the home for the foreseeable future, you can either save money on interest or have a more predictable payment. Before you jump on board, ask yourself: Am I saving enough money to make the cost of refinancing worth it? Would I feel more at ease with a fixed-rate loan versus an ARM? When Doesn’t an FHA Streamline Refinance Make Sense? Like we said, sometimes it doesn’t make sense to refinance. First, make sure you can afford…
25
Oct
2021
Last week’s economic reporting included the National Association of Home Builders’ Housing Market Index reports on building permits issued and housing starts, The National Association of Realtors® reported on sales of previously owned homes, and weekly readings on mortgage rates and jobless claims were also published. NAHB: Builder Confidence Improves in September The National Association of Home Builders reported an index reading of 80 for its September Housing Market Index. Analysts expected September’s index reading to match August’s reading of 76. Builders continued to face supply chain challenges and labor shortages amid growing concerns over rising home prices and affordability for would-be home buyers. Component readings for the Housing Market Index…
