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30
Jun
By Jim Hasek
Market Outlook, ,

What’s Ahead For Mortgage Rates This Week – June 30, 2014

Last week brought several economic and housing sector reports including Existing Home Sales, Case-Shiller and FHFA home prices for April, as well as New Home Sales. Freddie Mac's weekly mortgage rates survey and the weekly report on new jobless claims were released on Thursday, and Consumer Sentiment for June rounded out the week on Friday. Existing Home Sales Stronger than Expected!  Good news came from the National Association of REALTORS® Existing Home Sales report for May, which reported 4.89 million previously owned homes sold on a seasonally-adjusted annual basis. Analysts had projected a seasonally-adjusted annual figure of 4.75 million existing…
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27
Jun
By Jim Hasek
Real Estate Tips, ,

A Guide to Selecting a Home and Property That Will Suit Your Growing Family

Both seasoned homeowners and first-time buyers know making the decision to purchase a new home is not one that is taken lightly. There are so many things to consider, from choosing a home with growth potential to finding a community to support a family's interests and lifestyle. While the decisions may seem endless, don't be discouraged. Develop a strategic approach to buying a home with our definitive guide to selecting a home and property that will suit a growing family's needs. Use this guide, along with advice from a trusted real estate professional in your area, to get started on…
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26
Jun
By Jim Hasek
Mortgage Rates, ,

Case-Shiller: Home Price Growth Slows in April

The S&P Case-Shiller Index for April shows that while home prices continue to grow, they are doing so at a slower pace as compared to April 2013. The Case-Shiller 20 city index reports that home prices expanded at a year-over-year annual rate of 10.80 percent as compared to 12.40 percent in April 2013. Month-to-month data showed that home prices rose for the second consecutive month. The seasonally- adjusted month-to-month growth rate for the 20 city home price index was 0.20 percent against March's month-to-month home price growth rate of 1.20 percent. Slower Home Price Growth: A Silver Lining? According to…
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25
Jun
By Jim Hasek
Home Mortgage Tips, ,

Starting to Shop for a Mortgage? How to Assess Your ‘Debt-to-Income Ratio’ and Why This Number Matters

Those who are looking to buy a home may want to start by shopping for a loan first. Having financing ahead of time may make it easier to get sellers to take a buyer seriously and help move along the closing process. For those who are looking to get a mortgage, the most important factor for having a mortgage application approved is the debt-to-income ratio of the borrower. What Is a Debt-to-Income Ratio? A debt-to-income ratio is simply the percentage of debt compared to the amount of income that a person brings in. If a person brought home $1,000 a…
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24
Jun
By Jim Hasek
Home Mortgage Tips, ,

The FHA Hawk Program for New Homebuyers is Coming: Here’s How It Affects Your Mortgage Insurance Premiums

The FHA offers many new programs and incentives for new homebuyers to take advantage of so that they can be part of the effort to ease the credit crisis. If you are in the process of shopping for a mortgage prior to shopping for your new home, it can benefit you to learn about programs that you may qualify for that are being created by the Federal Housing Administration and piloted. One such plan, which is has been approved as a four-year pilot program, is referred to as the FHA HAWK Program. Read on to learn how this program works…
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23
Jun
By Jim Hasek
Market Outlook, ,

What’s Ahead For Mortgage Rates This Week – June 23, 2014

Last week's scheduled economic news included the National Association of Home Builders /Wells Fargo Housing Market Index, Housing Starts and Building Permits. The Fed's Federal Open Market Committee (FOMC) issued its usual statement at the conclusion of its meeting, and Fed Chair Janet Yellen also gave a press conference. Home Builder Confidence Improves, But Housing Starts Slow NAHB released its Housing Market Index report, which reached its highest reading in five months. The index moved up from 45 to 49; a reading of 50 indicates that more builders are confident about housing market conditions than those who are not. David…
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