Blog

23
Feb
By Jim Hasek
Home Mortgage Tips, ,

How to Calculate Your True Cost of Living and Determine How Much Mortgage You Can Afford

A monthly mortgage can seem like enough of a financial responsibility on its own, but there are many factors involved in home ownership that affect its fiscal feasibility. If you're in the market for a house and are wondering how your income will stack up against the rest of your expenses, here's how to determine a home cost that's reasonable for you. Determine Your Down Payment Before you start with anything else, you'll want to determine the amount of money you can put down so you can estimate your monthly payments. The traditional amount for a down payment is 20%…
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22
Feb
By Jim Hasek
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – February 22, 2016

Last week's economic news included the NAHB Housing Market Index, Commerce Department releases on housing starts and building permits and minutes of the most recent meeting of the Fed's FOMC meeting. Home Builder Confidence Falls in February According to the National Association of Home Builders (NAHB), home builders had less confidence in market conditions for newly built homes. The reading for February was three points lower at 58 than the upwardly adjusted reading for January. Analysts had expected a reading of 59; any reading over 50 indicates that more builders are confident about conditions than those who are not. Builder…
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19
Feb
By Jim Hasek
Mortgage Tips, ,

Eliminate These 5 Barriers To Saving For Your Down Payment This Month!

With all the expenses that go into monthly living and the temptations that come along with life, saving money for the down payment on your new home can be quite a struggle for many people. If you're having a hard time saving and are wondering what you can do to ensure a higher bank balance next month, here are a few things that may pose a risk to getting the home of your dreams. Forgetting To Take Lunch One of the things most likely to defeat your bank balance is the daily office trip to the deli or diner. Instead…
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18
Feb
By Jim Hasek
Home Mortgage Tips, ,

HARP Refinancing Ends in 2016: Here’s How to Take Advantage Before It’s Gone

Many homeowners are struggling to keep up with their mortgage payments on a monthly basis, and it can often seem like there are limited options for remedying the situation. If you haven't heard of HARP refinancing and you're a homeowner who's looking for a lower interest rate, this may be the right solution to your payment woes. Instead of letting the opportunity blow by, here's all you need to know before this option ends in 2016. The Details On HARP Refinancing Known as HARP, the Home Affordable Refinance Program was created in 2009 following the economic crash that was brought…
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17
Feb
By Jim Hasek
Housing Analysis, ,

New Home Construction Seen As A Possible Solution To Pent Up Demand For Homes

Builder confidence in markets for new homes fell three points in February to a reading of 58. January's reading was revised upward to 61. Builders have repeatedly expressed concerns shortages of labor and lots for development, but continue to express confidence in future sales conditions. David Crowe, National Association of Home Builder's (NAHB) chief economist, said that builders are watching slowing economic trends, but also cited low mortgage rates, improving labor markets and pent-up demand for homes as factors for strong U.S. housing markets. The NAHB notes that any reading over 50 indicates that more builders were confident than those…
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16
Feb
By Jim Hasek
Market Outlook, ,

What’s Ahead For Mortgage Rates This Week – February 16, 2016

Last week's economic events included weekly releases on new jobless claims, mortgage rates and testimony by Fed Chair Janet Yellen concerning the Federal Reserve's monetary policy. Here are the details: Mortgage Rates, New Jobless Claims Drop Freddie Mac reported that average mortgage rates fell across the board last Thursday, with the rate for a 30-year fixed rate mortgage seven basis points lower at 3.65 percent. The average rate for a 15-year fixed rate mortgage was six basis points lower at 2.95 percent, and the average rate for a 5/1 adjustable rate mortgage was two basis points lower at 2.83 percent.…
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