Even with record-low mortgage rates, many refinancing borrowers are choosing to pay down their loan balances rather than borrow more money. According to a recent report by Freddie Mac, “cash-in” borrowers – those who reduced their principal balance by paying in additional money at the closing table – represented 22 percent of all borrowers who […]
Mortgage Rates At All-Time Lows
Mortgage Rates At All-Time Lows Mortgage interest rates continue to see new record lows, hitting rates not seen since the 1950s. But brokers say few of the many homeowners rushing to take advantage and refinance their loans will be able to qualify. The high levels of unemployment and depressed property values in many parts of […]
Owning a Home and Renting: Cost Spread is Narrowing
Owning a Home and Renting: Cost Spread is Narrowing With mortgage rates at record lows and housing markets stuffed to the gills with cheap distressed properties that’s led to declining home prices, the cost to own a home is sometimes cheaper than renting an apartment in many markets, according to analysts at Credit Suisse. While […]
Time For Homeowners to Refinance Mortgages?
Time For Homeowners to Refinance Mortgages? Interest rates vs. costs and declining values are key factors to consider when refinancing your home. Is now the time for you to consider refinancing? Mortgage expert Chip Cummings answers some key questions in this Fox News interview… Have a question or comment about mortgage refinancing in today’s market? […]
Housing Predictions Were Not So Good
Housing Predictions Were Not So Good Every year, so-called “experts” make their predictions for the housing market. As 2009 came to a close, many experts predicted two things over and over again: 1. Home prices would fall in the first half of 2010 2. Mortgage rates would be higher in 2010 Here we are over […]
3 Reasons You Might Not Get a Mortgage
3 Reasons You Might Not Get a Mortgage While real estate might be easy to find these days, getting a mortgage might not be so easy. Here are 3 reasons why you might find yourself unable to get that mortgage when you need it… Questions about mortgages that we can help with? Just use the […]
Mortgage Rates and Home Buyers Decline
Mortgage Rates and Home Buyers Decline Mortgage rates continue to decline, continuing to hover near the record lows, while the number of home buyers applying for mortgages has also dropped. Hard to imagine that rates will get lower any time soon. The number of homeowners applying to refinance their homes has fallen modestly, however, according […]
New Cause for Confidence in the Real Estate Market
New Cause for Confidence in the Real Estate Market The US real estate market appears to be improving, at least according to one leading indicator. The April survey by Real Estate Confidence Index (RECI) suggests both improved market conditions and more optimism among real estate brokers and agents. The RECI, just released by Point2 Technologies, […]
Why Rent When Home Prices Are So Low?
Why Rent When Home Prices Are So Low? Mortgage rates are at record lows. Home prices are at record lows, and the federal government is offering tax credits for purchasing a home. Why then should anyone rent? Home prices and mortgage rates have dropped so much that the cost to own and maintain a house […]
The Government Wants out of the Housing Market
The Government Wants out of the Housing Market The US federal government is looking to get out of the housing market whether we are prepared for it or not. Actually, the scheduled date of the fed pull out has been narrowed down to be within a few months time. By this happening there will be […]