12
Sep
By Jim Hasek
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – September 12, 2022

Last week’s economic reporting was minimal due to the Labor Day Holiday. Fed Chair Jerome Powell Weekly readings on mortgage rates and jobless claims were also released. Fed Chair: Rates Expected to Remain Higher Chair Powell said that interest rates will remain high for a longer than expected time as “history cautions against prematurely loosening [monetary] policy.” The Federal Reserve has a legislative mandate to maintain its target interest rate range at or near 2 percent, During a discussion at the Cato Institute, Chair Powell said that the longer inflation remains above the target rate range the more likely the…
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09
Sep
By Jim Hasek
Mortgage Tips, ,

Important Things To Know Before Signing Your Reverse Mortgage

There are many reasons people take out reverse mortgages. However, this option is usually considered by cash-strapped seniors who own their homes and are looking to ease the burden of their golden years. The beauty of reverse mortgages is that you'll receive money as long as you are current on property taxes and homeowners insurance. While this seems like an appealing opportunity, it's a decision that should not be made lightly. Not only is the reverse mortgage complicated in itself, but homeowners make all sorts of mistakes when they're too quick to sign the dotted line. So if you're considering…
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08
Sep
By Jim Hasek
Home Buyer Tips, ,

The Top Tips For Finding The Right Home

If you are in the process of looking for a new home, you have probably realized that there are lots of options available. It can be very difficult to decide which home is right for you, but there are several important tips you should keep in mind. They include: 1. Make A List Of Your Wants And Needs First, make a list of what you need to have and what you want to have. It is very difficult to find the perfect home, but if you have a list that allows you to prioritize what is most important, the process will…
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07
Sep
By Jim Hasek
Mortgage, ,

Should You Buy Mortgage Points?

When you take out a home loan, you might have the option to purchase mortgage points. Essentially, this is money that you pay to the lender upfront in exchange for getting a lower interest rate over the life of the loan. If you got a great deal on the house, you might have some extra cash on hand. Should you use that money to buy down the interest rate? This is a math problem that you need to calculate for yourself. How To Do The Math If you want to figure out if the mortgage points are worth it, you…
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06
Sep
By Jim Hasek
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – September 6, 2022

Last week’s economic reporting included readings on home price growth, federal data on public and private sector job growth, the national unemployment rate, and data on consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released. S&P Case Shiller: Home Price Growth Slows in June The S&P Case-Shiller National Home Price Index reported slower home price growth in June as home price growth slowed to a year-over-year pace of 18.0 percent as compared to May’s reading of 19.9 percent. The 20-City Home Price Index posted 18.6  percent growth in June as compared to May’s reading of 20.50…
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02
Sep
By Jim Hasek
Home Mortgage Tips, ,

Understanding Your FICO Score and Why Small Credit Mistakes Can Cause Huge Headaches

Many people all over the world are dealing with issues involving debt or poor credit history, but most aren't necessarily aware of what exactly makes up their credit score. Unfortunately, it might seem like it's the big stuff that counts when it comes to credit, but little things can have a significant impact on your financial health. If you're looking to improve your understanding and your finances, here's what you need to know about small mistakes and your FICO score. Making Late Payments The due date on your bills might seem like an advisory, but whether we're talking about a…
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