mortgage

Increased Real Estate Mortgage Rates

Mortgage Rates on the Rise!

            Average U.S. mortgage rates rose modestly this week, a move that makes home-buying a bit less affordable. Still, rates remain near historically low levels.

            Mortgage buyer Freddie Mac said Wednesday that the average rate on the 30-year loan increased to 4.29 percent from 4.22 percent last [...]

Follow These Rules Before Refinancing Your Mortgage

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Refinancing your mortgage is a smart move if done right.  If done wrong, however, you could lose money when you have to sell.

      1. Pay Attention to Half Percents

With the current trend of low interest rates,

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Baby Boomers vs Millennials: The Homebuilder's Dilemma

The housing industry is being pulled in two directions Baby boomers who have the cash flow to invest in real estate are still the priority for many builders. However, the up and coming millennial homebuyers have a new set of requirements for their future homes. So builders are scrambling to create houses tailored toward the new generation.

Mortgage Rates Are At Their Lowest In 3 Years

Despite a rapid increase in home prices, mortgage rates have dropped to their lowest point in three years. As of Tuesday, the average rate for a 30-year conforming mortgage nationally was 3.6 percent, down 2 points from last week. This drop means a 6 percent increase in buying power.

There are disadvantages to lower mortgage rates however. Credit availability declines marginally as the rates decline. With a small margin, lenders become more risk averse so indicators of credit tightness like the average FICO scores have gone up as rates have gone down.

A Solution to The Affordabiilty Crisis? The Affordable Millennial Dreamhouse

In designing homes, there is a need for flexibility to make it financially plausible for millennials to afford ownership. That means a lower price point and space to rent out while the millennial buyer builds equity. One solution is the “responsive home” built in Henderson Nevada as a collaboration between TRI Pointe Group’s Pardee Homes and Hanley Wood’s Builder Magazine.

Here's How Much Your Down Payment Will Be In These Greater Boston Suburbs

The general rule of thumb when it comes to down payments in the Boston area is twenty percent of the price. So that means, with home prices where they are today, you’re looking at upwards of $100,000 up front.

5 Mistakes to Avoid When Choosing a Mortgage

For many people, a mortgage will be their largest monthly expense.  Most homebuyers fail to properly prepare or negotiate and end up paying much more for their loans than they need to. If you clicked on this article, you’re already on the right track. Here are 5 things to avoid when selecting a mortgage.

 

How To Buy a Home If You Have a Bad Credit Score

“In a perfect world, you’d have a robust credit score and a 20 percent down payment in hand, with mortgage lenders falling all over themselves to get your attention,” said Geoff Williams on US News. “But what if your world is a little dinged? What if your credit score is shabby, your bank manager cringes when he sees you and debt collectors are the ones vying for you attention?”

Well here are a few options that might still allow you to buy a house with bad credit.

Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending January 26, 2018.

Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending January 26, 2018.

The MBA reported mortgage interest rates for 30-year fixed-rate mortgages with conforming loan balances ($424,100 or less) increased from last week’s 4.36% to 4.41%, the highest level since March 2017.