28 Apr 2020
By Mortgage Blog Content

The ‘Golden Girls’ Strategy? Elderly Adults Share Home Ownership

Real Estate
The "Golden Girls" trend got its name from the popular television sitcom about four elderly women who live together to share expenses. It is becoming a popular way in real life for elderly adults to share homeownership and it has many benefits. The cost of assisted living is quite high. The median cost in the United States for assisted living is $4,051 per month. In many parts of America, that amount makes a substantial mortgage payment. Rather than pay that high price to live in an adult assisted-living community, many able-bodied elderly are choosing to pool their resources and live together in a large home that they own together. Buying A…
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19 Mar 2020
By Mortgage Blog Content

More Than 25% Of Millennial Homebuyers May Be Financially Unprepared

Mortgage
Millennials are the first generation in America that will probably not be able to do as well as their parents. In the United States, there is not as much upward mobility as there was in the past. What is the cause of this? CNN reports that Millennials have more college degrees than their parents. They also have an enormous amount of student loan debt. Many millennials have lower-paying jobs than their parents had at the same age when adjusted for inflation. Spending patterns changed as well, due to the high cost of living. Finding The Money Saving is not easy. The net worth of Americans, who are from 18 to 35…
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31 Jan 2020
By Mortgage Blog Content

FOMC Statement: Key Fed Rate Unchanged; Policymakers Monitor Impact of Asian Flu Outbreak

Market Outlook
The Federal Open Market Committee of the Federal Reserve issued its scheduled post-meeting statement Wednesday. Policymakers unanimously decided to leave the target federal funds rate range unchanged at 1.50 to 1.75 percent. FOMC members reasserted previous views that inflation was "subdued" and the economy was growing at a moderate pace. The Fed typically bases decisions about interest rates on its dual mandate of achieving maximum employment and an annual inflation rate of 2.00 percent. U.S. Economy Strong, Fed Chair Sees No Immediate Risk From China FOMC cut the target interest rate range three times in 2019 to offset higher prices associated with a trade war with China, but the Committee considered…
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31 Dec 2019
By Mortgage Blog Content

5 Excellent Pathways To Home Ownership For Millennials

Real Estate
Millennials are a huge socio-demographic group of over 83 million people. Many of them want to buy a home but face challenges that their parents did not necessarily have. Homes are more expensive. In most places, home prices rebounded to exceed the pre-2008 economic collapse values. Moreover, home prices continue to go up. The encouraging news is that there is home financing readily available and mortgage interest rates are still reasonable. Even if it is more challenging, the greatest investment that most Americans can make is buying a home. Paying rent is only helping the landlord get rich. Homeownership is still highly desirable and a part of a wise long-term investment…
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11 Dec 2019
By Mortgage Blog Content

FOMC Statement: Fed Holds Steady On Its Interest Rate Range

Market Outlook
The Federal Open Market Committee of the Federal Reserve announced its unanimous decision not to change to the current target federal funds range of 1.50 to 1.75 percent. The committee’s customary post-meeting statement said the decision not to change the Fed’s target range for federal funds was based on factors including a strong labor market, moderate economic growth, continued job growth, and low unemployment. Economic readings reviewed prior to the FOMC meeting held Tuesday and Wednesday supported the achievement of the committee’s dual mandate to achieve maximum employment and maintain price stability. According to the post-meeting statement issued on December 11, FOMC members consistently review incoming global and domestic economic news…
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04 Dec 2019
By Mortgage Blog Content

Case Shiller, FHFA Report Uptick In Home Price Growth In September

Real Estate Trends
Case-Shiller’s National Home Price Index showed 3.20 percent national home price growth in September, which was 0.10 percent higher than August’s reading of 3.10 percent. The 20-City Home Price Index showed the continued impact of exorbitant home prices on both coasts as home price growth slowed in high-cost areas and smaller markets experienced upward pressure on home prices as home buyers were seeking affordable homes. Phoenix, Arizona led the 20-City Home Price Index with 6.00 percent year-over-year growth in September. Charlotte, North Caroline had 4.60 percent growth in home prices and Tampa, Florida rounded out the three cities with highest year-over-year home price growth with 4.50 percent growth. The 20-City Home…
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