What’s Ahead for Mortgage Rates This Week: February 8th
Mortgage markets improved last week on domestic jobs data and international banking concerns. The news triggered buying in the bond market and, as a result, conventional, FHA and VA mortgage rates improved for the 4th consecutive week in Northwest Indiana. Mortgage rates in Northwest Indiana are now at a 6-week low but probably shouldn’t be. It underscores just how important global events can... [Read more of this blog post]
7 Ways to Improve Your Credit & Your Home Loan Rate
As mortgage lenders tighten approval standards nationwide and in Northwest Indiana, the importance of a good credit score is rising. Credit scores not only make the difference between a mortgage approval and mortgage turn-down, but they also play a large role in determining your actual mortgage note rate. In the 3-minute piece, the NBC Today Show talks about 7 ways that homebuyers ruin their credit... [Read more of this blog post]
January Jobs Report Key to Mortgage Rates & Home Prices
On the first Friday of every month, the U.S. government releases its Non-Farm Payrolls data from the month prior. The data is more commonly known as “the jobs report” and it swings a big stick on Wall Street. Especially now — many analysts believe job growth is tightly linked to the future of the U.S. economy. Therefore, when January’s jobs report hits the wires at 8:45 AM ET... [Read more of this blog post]
Pending Home Sales Up – Stronger Spring Market Ahead
The Pending Home Sales Index rose slightly in December, climbing 1 percent from November. A Pending Home Sale is a home that is under contract to sell, but not yet sold. It’s a figure compiled by the National Association of Realtors® using sales data from over 100 regional listing services and more than 60 large brokerages around the country. Because each pending sale is a true measure of... [Read more of this blog post]
What’s a Short Sale and Why This Option?
A “Short Sale” is when a home seller sells his home for a lesser amount than what is owed on his mortgage, and the mortgage lender agrees to accept the lesser amount in lieu of a full payoff. By way of example, a Short Sale may be appropriate for a home seller in Crown Point, Chesterton, Munster, Saint John, Schererville or Valparaiso whose mortgage balance is $250,000 but whose home... [Read more of this blog post]
What’s Ahead for Mortgage Rates This Week: February 1st
In a news-heavy week, mortgage markets improved in Northwest Indiana last week, adding to a 3-week rally. But, given last week’s data and domestic story lines, it’s surprising that rates actually fell in Northwest Indiana. The Federal Reserve said the economy continues to strengthen Consumer Confidence pushed to a 2-year high 4th Quarter domestic output exceeded Wall Street’s... [Read more of this blog post]
Are Home Values Up or Are Home Values Down?
Reporting on a two-month lag, the government said home values rose 0.7 percent in November. National home prices are at their highest point since February 2009. But before we look too much into the FHFA’s Home Price Index, it’s important that we’re cognizant of its shortcomings; the most important of which is its lack of real-time reporting. According to the National Association... [Read more of this blog post]
Today’s Real Estate Reality Blog
