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Archive for Interest Rates
Homeownership Beats Renting in 3 Out of 4 U.S. Cities!
Trulia examined the cost of renting versus buying in America’s 50 largest cities and found that buying is more affordable in 72% of major cities. Three reasons buying a home has become more affordable in 72% of major cities than renting . 1. Rental prices have increased. The rental market has become flooded with homeowners [...]
Have You Heard Interest Rates as Low as 3.5%!
I thought interest rates would be around 5% towards the end of 2011 and heading towards 6%. I am glad to see I was wrong. Because of the lack luster growth with the economy, and low consumer confidence, interest rates have been kept low.This is a good thing for potential buyers. Would you rather finance [...]
How to Get Mortgage Financing in 2011!
In my last blog post I quoted the Federal Reserve Chairman, Ben Bernanke who stated at the international monetary conference in Atlanta Georgia a few weeks ago that “despite historically affordable home values, many buyers are unable to access financing due to tightened lending standards.” While this statement is true, there are a couple of [...]
Now is a Good Time to Buy!
A recent survey backed by the National Association of Home Builders (NAHB) found that Americans see beyond the immediate housing market to the enduring value of homeownership which still remains essential to the American dream. The Chairman of NAHB reported that 75 percent of those polled said owning a home is worth the market fluctuations [...]
Happy New Year! Happy House Hunting!
It’s now 2011! Will this be the year you finally start the process of purchasing your new home? I believe there will be great deals still available in 2011. Don’t wait until interest rates get to 6% before you decide now is the time to buy. My last client that settled on December 29,2010 received [...]
Buyers What Are You Waiting For? 30-Year Mortgages Fall to 4.19%!
Can you believe it! 30- year mortgages has fallen to 4.19% The average rate on a 30- year fixed mortgage is now the lowest it has been in six decades. Freddic Mac’s weekly rate report says a 30-year fix fell to an average of 4.19 percent in the week ending October 14, down from 4.27 [...]
CDA (DSELP) Providing Up To $5,000 To First-Time Home Buyers!
An individual or family who are approved to purchase a home using a CDA first mortgage loan can apply for a DSELP. DSELP is a Downpayment and Settlement Expense Loan Program. This program helps eligible borrowers by funding a portion of their closing costs. DSELP was allowing buyers to borrow up to $3,500 but has [...]
Take the Stress Out of Homebuying!
Buying a home should be fun but it can be a little stressful. As you look for your dream home, keep in mind these tips for making the process as peaceful as possible. 1. Find a real estate agent who you connect with. Home buying is not only a big financial commitment, but also an [...]
Always Know Your Numbers!
In today’s world 85% of consumers starttheir home buying search for properties on the Internet. Many potential home buyers whom are referred to me will give me a list of properties they have been looking at on the Internet and some time they have actually driven the area and viewed the properties from the outside. While [...]
What is “Rescoring!”
If you have paid your bills on time but your credit report says you haven’t, your mortgage lender might be able to fix your report fast. Typically, the three credit bureaus each require at least 30 days to investigate and make changes to your credit report. But if you are in the process of applying [...]
