01
Nov
By Jim Hasek
Home Buyer Tips, ,

3 Reasons Why Your First Home Should Be a Spacious One

Buying a home for the first time? One of the key considerations you'll need to make is just how much 'house' you want to buy. While going minimal might seem like a good idea to save on costs, having a smaller living space can end up cramping your lifestyle in many ways. Let's take a look at three great reasons why your first home should be roomy, spacious and luxurious. You Might End Up With More Family Than You Think Have you considered whether or not you want to have a family? Whether you're a single young professional or part…
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31
Oct
By Jim Hasek
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – October 31, 2022

Last week’s economic news included readings on home prices from S&P Case-Shiller home price indices along with sales of new homes and federal government data on inflation. Weekly readings on mortgage rates and jobless claims were also released. S&P Case-Shiller Home Price Indices: Home Price Growth Slows in August U.S home prices fell by 9.8 percent year-over-year in August according to S&P Case-Shiller’s National Home Price Index. National home prices fell by -5.3 percent in July. The 20-City Home Price Index rose  13.1 percent year-over-year but reflected readings from markets that were stronger in 2021. Miami. Florida, Tampa, Florida, and…
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28
Oct
By Jim Hasek
Financial Reports, ,

S&P Case-Shiller Home Price Indices: U.S. Home Price Growth Slows in August

U.S home price growth slowed for the second consecutive month in August according to S&P Case-Shiller’s national home price index. National home price growth fell by -9.8 percent year-over-year as compared to July’s year-over-year reading of  -5.3 percent. Home price growth slowed by -1.1 percent month-to-month from July to August. Rising Mortgage Rates and Recession Worries Dampen Homebuyer Interest The Mortgage Bankers Association forecasted a recession in 2023 and expects mortgage rates to fall to approximately 5.40 percent by the end of 2023. Mike Fratantini, senior vice president and chief economist at the MBA, said: “The upside of [a potential…
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27
Oct
By Jim Hasek
Mortgage, ,

What Do You Need To Know About Home Improvement Loans?

Do you want to make some improvements to your house? Home improvements are a great way to make your home more functional, and can also add value to your home. At the same time, performing a home improvement project can be expensive, and that is where a home improvement loan can be helpful. What do you need to know about them? The Eligibility Requirements First, just like applying for a mortgage, there are eligibility criteria that you need to meet. The criteria can vary from lender to lender, so you need to talk to your lender to figure out what…
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26
Oct
By Jim Hasek
Mortgage, ,

Amortization: What You Need To Know About How Your Loan Is Paid Off

If you own a home, you will see a lot of information about your payment schedule. It specifies exactly what payments you have to make, when you have to make them, and how much of each payment will go toward your principal and interest. This is called an amortization schedule, and it is typically designed in such a way that your last payment pays off your loan down to the penny. How does this impact the life of your loan? Most Of Your First Few Payments Go Toward The Interest During the first few years, the majority of each payment…
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25
Oct
By Jim Hasek
Mortgage Tips, ,

What Do First-Time Homebuyers Need To Know?

If you are purchasing a house for the first time, you are probably excited to imagine what your life might look like in a bunch of different houses. At the same time, the process can be a bit overwhelming. The housing market is competitive right now, the financing process can be confusing, and you might not know exactly what you are looking for. What are a few of the most important tips first-time home buyers need to know? Reach Out To Experts For Help First, you need to reach out to professionals who can help you during the process. For…
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