Blog

01
Apr
By Jim Hasek
Market Outlook, ,

S&P Case-Shiller: Home Price Growth Slows in 2015

According to the S&P Case-Shiller Home Price Index report for January, home prices grew by 4.50 percent year-over-year as compared to  January 2014's  year-over-year  price growth rate of 10.50 percent. This was the lowest rate of home price growth since 2012. Analysts said that although slower growth in home prices could be good news for home buyers, national wage growth is not keeping pace with home price growth. The Labor Department reports that wages are growing at an annual rate of approximately two percent. Other obstacles to home buyers include strict mortgage standards and likely increases in mortgage rates during…
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31
Mar
By Jim Hasek
Home Mortgage Tips, ,

3 Huge Mortgage Mistakes Made by First-time Home Buyers – and How to Avoid Them

As a first-time home buyer, you may actively be seeking out information about your upcoming purchase. Buying a home is a huge financial move to make, and it can impact your financial situation and even your lifestyle for many years to come. While it is important to learn more about what to look for in a home, it is also important to learn about mistakes home buyers have made. When you learn more about mortgage mistakes that others have made, you can take steps to prevent making those same mistakes yourself. Committing To A Large Mortgage Payment Many first-time home…
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30
Mar
By Jim Hasek
Market Outlook, ,

What’s Ahead For Mortgage Rates This Week – March 30, 2015

Last week's economic reports included reports on new and existing home sales and FHFA's monthly home price index for properties associated with Fannie Mae and Freddie Mac mortgages. The details: New Home Sales Surge, Existing Home Sales Drop  According to the Department of Commerce, new home sales rose in January to a seasonally-adjusted annual rate of 539,000 which exceeded the expected rate of 455,000 sales and the revised figure of 500,000 sales of new homes in December 2014. This was a 7.80 percent increase over December's figure and was the first time since 2008 that new home sales met or…
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27
Mar
By Jim Hasek
Around The Home, ,

Spring DIY Projects: How to Build a Treehouse That the Kids Will Love

If you have children, no home is complete without a treehouse. Besides the fact that treehouses provide kids with hours of entertainment, they can also confer ancillary benefits that are hard to quantify. For starters, treehouses can improve property values by boosting curb appeal. When building any type of treehouse, keep the following tips in mind. Location, Location, Location Before you head off to Home Depot and get all the necessary supplies, you need to spend some serious time storyboarding the build process. Pick a tree with low, sprawling branches such as an oak or a maple. Furthermore, consider issues…
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26
Mar
By Jim Hasek
Home Mortgage Tips, ,

3 Reasons Why Your Mortgage Lender Might Ask for Your Tax Returns – And Why You Should Provide Them

After you have completed the initial loan application and have signed the preliminary loan disclosures, your mortgage loan application will generally receive a preliminary prequalification. This prequalification will be based in large part on your ability to provide documentation to support your statements on your loan application, including your stated income and assets. Typically, a lender will include a request for least the last two to three years of your income tax returns with this documentation. There are several reasons why a lender may need to review your tax returns and why you should provide requested documentation as soon it…
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25
Mar
By Jim Hasek
Market Outlook, ,

FHFA: Home Prices Rise 0.30 Percent in January

The Federal Housing Finance Agency (FHFA) reported that home prices rose by a seasonally-adjusted rate of 0.30 percent in January, and were 5.10 percent higher as compared to home prices in January 2014. FHFA oversees Fannie Mae and Freddie Mac and its home price report is based on sales of homes financed by mortgages owned or backed by Fannie Mae and Freddie Mac. Month- to- Month FHFA Home Prices Mixed Month to month home price data was mixed for January. Home prices ranged from -0.40 percent in the Middle and South Atlantic census divisions to +2.30 percent in the East…
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