Blog

20
Jan
By Jim Hasek
Market Outlook, ,

What’s Ahead For Mortgage Rates This Week – January 20, 2015

Last week's scheduled economic news was mixed. Job openings increased and jobless claims increased, and consumer sentiment rose. Mortgage rates fell across the board. Labor market conditions improved and consumer prices fell in large part due to decreasing fuel prices. The details: Labor Market Conditions Index Suggests Stronger Economy, Jobless Claims Jump Positive labor market ratings continued to show evidence of strengthening economic conditions. The Federal Reserve's Labor Market Conditions Index rose from November's revised reading of 5.50 to December's reading of 6.10. This index measures 19 economic indicators and rose well above its median reading of 1.90. November's reading…
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16
Jan
By Jim Hasek
Around The Home, ,

Three Subtle Painting Tricks That Will Make Your Home Look Amazing

When it comes to painting the walls of a house, sometimes subtle is best. You want to add design, color, and texture to the walls, but you don't want it jarring to the eyes. Here are three subtle painting techniques you can try on your home walls. Tissue Paper Texture One easy way to add texture to walls is to use tissue paper. You apply the tissue paper to the walls and it stays there until you want something new. Crumple up a piece of tissue paper into a tight ball and then open it up and smooth it out.…
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15
Jan
By Jim Hasek
Home Mortgage Tips, ,

Budgeting: How to Manage Large Mortgage Payments when Buying a Costly, High-value Home

Some people try to apply for as small of a mortgage payment as they can reasonably afford to, and there is some prudence associated with this line of thinking. After all, recent economic events have shown that those who get over-extended may wind up in a dire financial situation. However, there are also benefits associated with a higher mortgage and buying a slightly larger home if you can comfortably afford to do so. For example, the rate of growth on equity will typically be more significant, and there are tax deductions and tax advantages that may be greater. If you…
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14
Jan
By Jim Hasek
Home Mortgage Tips, ,

Three Major Mortgage Mistakes Which Are Sure to Increase Your Closing Costs

When shopping for a mortgage, it is important to take closing costs into account. While some closing costs are the same for all lenders, different programs may add or reduce some of the burden borrowers face when closing on a home loan. Let's take a look at some major mistakes that could result in borrowers paying more than they need to in closing costs. 1) Failing to Take Property Taxes Into Account Property taxes are generally put into an escrow account that is established prior to closing on the home loan. In most cases, a homeowner will have to pay…
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13
Jan
By Jim Hasek
Mortgage Rates, ,

How Low Can They Go: With Mortgage Interest Rates Low, Should You Refinance?

Do you have a mortgage? You've likely seen or heard a lot about mortgage refinancing as interest rates remained low in recent months. In today's blog post we'll explore the topic of mortgage refinancing, including when you should consider refinancing and how to take advantage of low interest rates. What is Mortgage Refinancing? In simple terms, refinancing refers to the practice of taking out a new mortgage and using the proceeds to pay off your old one in its entirety. You'll go through the full borrowing process with your chosen lender, including the credit check, financial history and employment history…
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12
Jan
By Jim Hasek
Market Outlook, ,

What’s Ahead For Mortgage Rates This Week – January 12, 2015

Last week's economic news was dominated by labor reports and FHA's announcement that it will lower its mortgage insurance premiums in an effort to make homes more affordable for first-time and moderate income home buyers. Mortgage rates fell last week as employment reports showed strengthening job markets. The details: FHA Lowers Mortgage Insurance Premiums HUD, the agency that oversees FHA, announced Thursday that it will lower annual mortgage insurance premiums by0.50 percent. The change is expected to become effective toward the end of January; HUD stated in its press release that a Mortgagee Letter outlining the changes will be issued…
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