Blog

28
Sep
By Jim Hasek
Market Outlook, , , , ,

What’s Ahead For Mortgage Rates This Week – September 28, 2015

Last week's scheduled economic news included reports on new and existing home sales, the FHFA House Price Index, weekly reports on mortgage rates, and new jobless claims. The week finished with a report on consumer sentiment.Existing Home Sales Fall as New Homes Sales and Home Prices RiseThe National Association of Realtors reported that home sales for pre-owned homes fell in August. Analysts expected sales of existing homes to reach a reading of 5.52 million sales on an annual basis, but the actual reading was 5.31 million existing homes sold as compared to July's reading of 5.58 million pre-owned homes sold.…
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25
Sep
By Jim Hasek
Home Buyer Tips, ,

The New Home Warranty: Why This Benefit Alone Makes Buying New Worth Considering

When making the decision to purchase a home, there can be an array of questions to ask regarding location, size, style and additional features that will complicate things. If one of the considerations among these is whether to buy new or old, though, you may want to be aware of new home warranties. While buying new can seem like a risk, this type of warranty may help make at least one decision easy when it comes to your home purchase. It's A New Home Benefit That's Often Guaranteed Currently, there are a number of places in North America where a…
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24
Sep
By Jim Hasek
Home Mortgage Tips, ,

Looking Ahead: How to Ensure That You Are Taking Full Advantage of Mortgage Tax Credits

One of the major benefits to purchasing a home with a mortgage are the tax credits that can be taken advantage of when April 15 comes around. Many homeowners are unaware of what mortgage related expenses can be deducted and, more importantly, which ones can no longer be deducted. Receive A Tax Deduction For Interest Paid On The Mortgage The most common tax credit associated with mortgages is the interest paid credit. This allows borrowers to deduct the cost of the interest paid on their mortgage on their taxes, which in many cases is the largest tax break available to…
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23
Sep
By Jim Hasek
Market Outlook, ,

National Association of REALTORS – Sales of Pre-Owned Homes Dip

Sales of previously owned homes dropped in August by 4.80 percent on an annual basis for the first time in four months; the dip was likely caused by rising home prices. August sales were reported at a rate of 5.31 million; July's rate was 5.58 million sales of previously owned homes. Sales of existing homes have risen 6.20 percent year-over-year; stronger labor markets and low mortgage rates were seen as contributing factors. Although economists expect the Federal Reserve to raise its target federal funds rate before year end, home sales are expected to stay strong through 2016. A Fed rate…
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22
Sep
By Jim Hasek
Home Mortgage Tips, ,

Critical Documents That You’ll Need to Have Ready Before Applying for a Mortgage

If not done properly, applying for a mortgage can be stressful and time consuming, but with the right preparation the entire process can be seamless. Here are some crucial pieces of information that almost any lender will require before approving a mortgage. Tax Information From The Previous Two Years One of the most important documents a borrower will be asked for is their federal tax return along with a signed Form 4506-T, which will allow the lender to contact the IRS directly for their version of the federal tax return to compare to the ones provided. This allows them to…
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21
Sep
By Jim Hasek
Market Outlook, , ,

What’s Ahead For Mortgage Rates This Week – September 21, 2015

Last week's economic releases included several reports related to housing. The Wells Fargo/ NAHB Housing Market Index achieved its highest reading in nearly 10 years. Housing Starts dipped in August and Building Permits issued in August exceeded July expectations. The week's big news was actually no news. The Fed's Federal Open Market Committee decided not to raise interest rates. Fed Chair Janet Yellen followed up on the FOMC statement with a press conference and said that the Fed is not yet ready to raise rates, but that a majority of FOMC members are prepared to raise rates before year-end. Inflation…
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