When you initially start shopping for a home mortgage, you may be drawn to advertisements for ultra-low interest rates. However, the unfortunate truth is that all too often, mortgage applicants are unpleasantly surprised and even disheartened to learn that they do not qualify for the advertised interest rate.
Do you have a mortgage? In today’s blog post we’ll explore the topic of mortgage refinancing, including when you should consider refinancing and how to take advantage of low interest rates.
Is your credit score holding you back from getting the best rate on your next mortgage? Here are a few easy and effective tips to help you get your credit score to where you want it to be.
The S&P Case-Shiller Index for April shows that while home prices continue to grow, they are doing so at a slower pace as compared to April 2013.
Last week’s economic news was fairly quiet due to the Memorial Day holiday on Monday and no scheduled news released on Wednesday.
Last week’s economic news was mixed, with new home sales increasing and weekly jobless claims higher than expected.
Case-Shiller and FHFA home price reports reflected slower growth in home prices. Mortgage rates moved higher for the third consecutive week.
Last weekâs economic data supported recent reports indicating that housing markets are slowing, The National Association of Home builders/Wells Fargo Home Builders Index (HBI) dropped by 10 points to a reading of 46 for February.
Last week’s economic news was dominated by the first address by the new Fed chairperson, Janet Yellen.
Tuesday’s news included the Jobs Openings report for December 2013, which matched November’s reading of 4.0 million jobs available.
Residential Construction Spending Up
Last week’s mortgage and housing-related reports began with Construction Spending for December, with a reading of 0.10 percent or a seasonally adjusted $930.5 billion.
December’s reading fell short of an expected increase of 0.40 percent.
Last week brought mixed news; while the Department of Commerce reported a dip in new home sales, mortgage rates also fell. The Federal Reserve’s FOMC statement revealed that quantitative easing would be further reduced by an additional $10 billion monthly.
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