Archive for the ‘Buying a Home’ Category

Real Estate and Mortgage Rates Today: Understand the Economy and Avoid Expensive Mistakes

Friday, July 19th, 2013

is a mortgage rates news and home loans post from:

is a mortgage rates news and home loans post from:

Almost every business day, some index, rate, or other statistic is released pertaining to the economy. Tough as it can be to make

sense of the alphabet soup of different acronyms (GDP, CPI, etc.,) sometimes it’s worth the effort. Not only do these statistics impact the broader economy, but there are times when they should have a direct influence on your personal financial decisions about your home, your mortgage, and your career.

Mortgage Interest Rates: Good

Take the current mortgage situation. According to figures from the , rose above 4 percent in June – the first time they’ve been above that mark since October of 2011. How should that impact plans for buying or refinancing a home?

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Going Big? Jumbo Mortgages Get Cheaper!

Tuesday, July 9th, 2013

The pendulum has swung back — when home financing dried up

during the housing crisis, home buyers who needed jumbo mortgages (larger loans than the government is willing to back) had to pay through the nose. At one point, rates for these loans ran more than 1.5 percent higher than those of their smaller counterparts.

Today, though, it’s a different story. Banks have been sitting on their cash for a long time and now they need to invest it. Mortgages have become safer, largely due to the recovery of the real estate market. These factors create opportunity for folks who want to buy more expensive homes.

Jumbo Customers Sought After by Banks

In addition, the characteristics of the typical jumbo home buyer make him or her sought-after as a banking customer. They have money (duh). They have substantial down payments and excellent credit. This makes the loans very well. Perhaps most … https://essay4today.com