Blog - Page 87 of 125

23 Jan 2023

What’s Ahead For Mortgage Rates This Week – January 23, 2023

Financial Reports

Last week’s economic reporting included readings from the National Association of Home Builders on U.S. housing markets, and Commerce Department data on housing starts and building permits issued. The National Association of Realtors® reported sales of previously owned homes, and weekly readings on mortgage rates and jobless claims were also released. NAHB: Homebuilder Sentiment Rises in December The National Association of Home Builders reported increased homebuilder confidence in U.S. housing market conditions in December; this was the first time in 12 months that homebuilder confidence rose. Builder confidence in current housing market conditions rose by four points; builder confidence in…

20 Jan 2023

By Tawnya King

An Often-Overlooked Trick Can Help You Afford A Second House

Mortgage

The whole idea of investing is to use a portion of your money now to get more down the road. It is important for everyone to diversify their investments, and you might be thinking about buying a second house to do so. Investing in real estate is a goal that a lot of people have, but how can you get started? It was challenging enough to buy your first house, so how can you afford a second one? Use A Cash-Out Refinance To Buy Your Second House One trick that many people overlook is that they can actually conduct a…

18 Jan 2023

By Tawnya King

How Do You Actually Write The Check To Buy A House?

Mortgage

After you have found the right house to meet your needs, you need to make the down payment to complete the transaction. Can you show up at the closing table with a suitcase full of cash? Of course, that would be a bit suspect, so that is not actually how it happens. What do you need to do to actually hand over the funds to buy the house? The Down Payment Is Verified Beforehand First, understand that the down payment is usually verified before you agree to the deal. Your real estate agent will work with you and the seller’s…

17 Jan 2023

By Tawnya King

What’s Ahead For Mortgage Rates This Week – January 17, 2023

Financial Reports

Last week’s financial reporting was dominated by readings on inflation. Weekly reports on mortgage rates and jobless claims were also released and Treasury Secretary Janet Yellen cautioned lawmakers that the debt ceiling must be raised or eliminated. Inflation slows in December Month-to-month inflation slowed by -0.1 percent in December and matched analysts’ expectations. This was the first slowing of inflation since the pandemic and the highest inflation reading since inflation reached its highest level in 40 years. Inflation rose by 0.1 percent in November. Year-over-year inflation rose by 6.5 percent, which matched expectations, and fell short of the November reading…

13 Jan 2023

By Tawnya King

In a Hurry to Buy a Home? Speed Your Mortgage Approval up by Following This Checklist

Home Mortgage Tips

Have you finally found your dream home after months of searching, only to discover that the seller has received other offers? Few circumstances can raise your stress level as much as finding yourself in a bidding war against another buyer. However, being unprepared by not having your finances in order can make the situation even worse. Let's take a quick look at a few ways that you can speed up your mortgage approval if you are in a hurry to buy your next home. Pull Your Credit Report ASAP The first step you will want to do is check your…

12 Jan 2023

By Tawnya King

House Poor: What It Means And How To Avoid It

Mortgage

There is a good chance you have heard someone described as being house poor. What exactly does it mean? It is important to understand what it means to be house poor and how you can stay away from it. House Poor Means Spending A Significant Chunk Of Your Income On Housing Being house-poor means different things for different people. In general, it means spending a significant amount of your monthly income on recurring expenses related to your house. A few examples include your mortgage, the interest on your mortgage, your property taxes, and HOA expenses. Owning a house can be…

10 Jan 2023

By Tawnya King

The Most Commonly Forgotten Item On The Home Budget List

Mortgage

If you are in the process of purchasing a home, it is critical for you to make sure that you budget appropriately. Unfortunately, there are a lot of people who commonly overlook closing expenses. Even though it is important for you to have enough money for your down payment, you need to make sure you cover closing costs as well. What is included in closing costs, and how much money do you need to budget? The Recommended Amount Even though it is tempting to focus on the cost of your house, it is also critical to think about closing expenses.…