Last week’s economic news included readings on builder confidence in housing market conditions, housing starts, building permits issued and existing home sales. Weekly reports on mortgage rates and new jobless claims were also released. The National Association of Home Builders reported that home builder confidence fell one point in July to 59 as compared to an expected reading and June reading of 60. Builders again cited shortages of buildable lots and labor.
Everyone wants a place to call home, but that doesn’t guarantee that homeowners will have an easy time selling their properties. Making sales depend on more than just curb appeal or the popularity of open houses.
Finding a new home loan can seem challenging, but if you take the proper steps before you start applying for loans, you’ll have no difficulty finding a mortgage that works for you – and a lender that would love to have you as a borrower. Shopping for a mortgage isn’t like shopping for a couch, and there’s a lot that goes into the process.
So how can you shop for your new home loan in a way that saves you time and gets you the best loan for your needs? Here’s what you need to know.
For many homebuyers who are new to the market, it can be very comforting to be on a fixed rate mortgage where fluctuating interest rates cannot have an impact on your monthly payments. While a variable rate mortgage can sometimes lead to significant savings at the end of the day, there are a few ways you can tell if your monthly payment is on the upswing.
Home builder confidence fell slightly in June to a reading of 59 according to the National Association of Home Builders Housing Market Index. Analysts had expected no change to June’s reading of 60. June components of the HMI were also lower. Builder confidence in current market conditions dropped by one point to 63; builder confidence in market conditions over the next six months fell three points to a reading of 66. The reading for foot traffic in new single-family developments dropped one point to 55. Readings over 50 indicate that more builders than fewer are confident about housing market conditions.
Last week’s economic news included reports on inflation, retail sales and weekly readings on mortgage rates and weekly jobless claims.
We’re told not to judge a book by its cover, but there’s no such rule in the housing market. Curb appeal is the external attractiveness of a home, and if you’re in the market for a house that first impression has a lot to do with your final decision. Alternatively, if you’re looking to sell, it’s an easy area to boost the attractiveness of your home.
Whether you’re considering a second mortgage to consolidate your debt or complete some home renovations, there can be a lot that goes into making this financial decision. If this is an option you’re seriously considering, here are some basics to know before deciding to on this route.
Purchasing a home can be one of the most exciting and stabilizing investments of your life, but because of the expense, there are many ways you may be spending more money than you should. If you’re wondering about the financial soundness of your home investment, here are some things to consider before putting anything down.
As the mortgage market has become more competitive, it has become a more common choice for many people to choose a mortgage broker to assist them with the lending process. While it’s great to have someone to help you with the fine details, there are some important differences between what a mortgage broker does and what you might think they do, so here are some things to be aware of.
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