Blog

29
Sep
By Jim Hasek
Market Outlook, ,

What’s Ahead For Mortgage Rates This Week – Sept 29, 2014

Last week's economic news included several housing-related reports that provided mixed results with lower than expected sales of previously owned homes and higher than expected sales of new homes. The FHFA also released its House Price report for July, which noted that year-over-year home prices were lower than year-over-year prices reported in June. Here's a look at the details: Existing Home Sales Lower, New Home Sales Higher The National Association of REALTORS® reported August sales of existing home sales fell to 5.05 million previously owned homes sold. This was lower than the expected reading of 5.20 million existing homes sold…
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26
Sep
By Jim Hasek
Home Buyer Tips, ,

Five Small Signs That Can Indicate Much Bigger Problems with a Home

It's not uncommon for home buyers to recount horror stories about properties that appeared to be fine at first glance, but were actually hiding very expensive problems. If you fail to do your due diligence, you might find your dream house turning into a nightmare. The next time you walk through a house, pay attention for these five signs that the property might be hiding a unfortunate secret or two. Mold, Water Spots and Water Damage Older and newer homes alike may develop a leaky pipe or another similar plumbing issue from time to time, but any type of water…
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25
Sep
By Jim Hasek
Mortgage Tips, ,

Understanding Title Insurance and How It Impacts Your Mortgage Loan

When you buy a home, you will be given a title to your new property. A title is a legal document that proves you own the property, and in most cases the title excludes other parties from making an ownership claim. However, not all titles give you free and clear ownership of the property. Title insurance protects you and your lender from title disputes and other ownership issues that may arise. Here are just a few ways that title insurance can impact your mortgage. How Title Insurance Protects A Lender There are certain situations in which someone might put a…
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24
Sep
By Jim Hasek
Market Outlook, ,

National Association of Realtors, Existing Home Sales Slip in August

Sales of previously owned homes fell in August according to the National Association of REALTORS®. This was the first decline in sales in five months. Although not welcome news to homeowners and real estate pros, there is good news. Lawrence Yun, chief economist for the National Association of REALTORS®, as first-time buyers and moderate income families may now have an opportunity to find and buy affordable homes. Bidding wars and slim inventories of available homes made buying a home difficult for many prospective buyers in recent months, but Mr. Yun said that these obstacles have subsided in many markets. Other…
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23
Sep
By Jim Hasek
Home Mortgage Tips, ,

Turned Down for a Mortgage? What to Do if You are Declined – and How to Get Second Opinion

If you have been declined for a mortgage, you may think that buying that new home is out of reach. However, there are ways to turn a rejection into an approval and to find a more accessible loan. Here are just a few steps you can take to learn about your loan options and get the mortgage that works for you. Find Out Why The Mortgage Application Was Denied The first step to getting a second opinion is to find out why your mortgage application was denied. Banks commonly deny mortgages for reasons like a low credit score, a high…
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22
Sep
By Jim Hasek
Market Outlook, ,

What’s Ahead For Mortgage Rates This Week – Sept 22, 2014

Last week's economic news largely concerned the Federal Reserve's FOMC meeting statement and a post-meeting conference given by Fed Chair Janet Yellen. The FOMC statement indicated that the Fed continued its wind-down of Treasury and mortgage-backed securities and that its purchases are expected to cease after the next FOMC meeting. The FOMC statement said that committee members find the economy to be improving at a moderate pace and currently strong enough to further reduce the QE3 monthly asset purchases. The Fed seeks to achieve and sustain its dual mandate of maximum employment and an inflation rate of 2.00 percent. While…
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