Christmas is just around the corner, and if you’re in a position to do it, paying off a family member’s mortgage is one of the biggest gifts you could give this holiday season. A mortgage can be a heavy burden on a young homeowner, which is why paying it off is the ultimate act of charity. But when it comes to paying for someone else’s mortgage, the process... [Read more of this blog post]
Although last week’s economic calendar was cut short by the Thanksgiving holiday, several housing-related reports were released. The FHFA reported on third quarter results for its Housing Market Index and the Commerce Department reported on new home sales for October. Freddie Mac released its weekly report on mortgage rates and data on new weekly jobless claims... [Read more of this blog post]
Home prices increased across the S&P Case Shiller 20-City Home Price Index in September. According to the 20-City Home Price Index, Year-over year home price gains increased to 5.50 percent from August’s reading of 5.10 percent. 17 cities posted higher year-over0year price gains in September as compared to August.
Western cities led price gains with San Francisco,... [Read more of this blog post]
Are you in the process of buying a new home? Then now is the perfect time to finally go through all the clutter and make some tough decisions about what needs to move with you and what needs to go away.
There is no point in waiting until after a move to go through the junk lying around, as tempting as it may be, so here are five ways to decide what should find a new home... [Read more of this blog post]
Sales of previously owned homes reached 5.36 million sales on a seasonally adjusted annual basis and fell by 3.40 percent in October according to the National Association of Realtors®. Rising home prices and a shortage of available homes strained housing markets. Concerns over potentially higher mortgage rates may have sidelined home buyers as concerns over an anticipated... [Read more of this blog post]
Last week’s economic events included reports the National Association of Home Builders Housing Market Index, Housing Starts and the release of minutes for the most recent meeting of the Fed’s Federal Open Market Committee. The details:
NAHB: Builder Confidence in Housing Markets Dips
The National Association of Home Builders reported that builder confidence... [Read more of this blog post]
As you can see in the video below, the amount of the down payment the size of the mortgage loan, the interest rate the length of the repayment term and payment schedule will all affect the size of your mortgage payment. In bullets:
Interest rate – fixed or adjustable
Repayment term – how long
Payment schedule – how often
all... [Read more of this blog post]
Refinancing a mortgage can provide a homeowner with many benefits, and many are interested in refinancing their traditional mortgage into an FHA mortgage to take advantage of low interest rates. Depending on the specific circumstances, this step may lower the monthly payment, reduce interest charges, adjust the loan term so that it is more beneficial for achieving financial... [Read more of this blog post]