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What’s Ahead For Mortgage Rates This Week – August 12, 2013

Housing Analysis , ,
Highlights of economic news from last week, include a survey of senior loan officers from U.S. and foreign banks doing business in the U.S. They indicated that banks were gradually easing lending standards for business and consumer loans, but viewed lending criteria for home loans as more restrictive than other types of loans. According to CoreLogic, U.S. home prices increased at their fastest pace since February 2006. Mortgage rates rose incrementally, and the Weekly Jobless Claims report came in lower than the expected 339,000 at 333,000 new jobless claims. Monday: Bank loan officers surveyed indicated that while mortgage lending requirements have…
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Quick Tips To Beat The Heat And Save On Your Electric Bill

Around The Home , ,
Summer always brings with it a hard choice: Do you turn down the thermostat to stay cool and resign yourself to high power bills? Or, do you sweat it out to save some dough? If you've been struggling with this dilemma, don't fret. With a programmable thermostat, you can beat the heat and save money, too. They are easy to install and can save you over $100 a year. The key is that they have different temperature settings for certain times of the day. The latest models can be self-installed, are easy to program and can be controlled over the…
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RealtyTrac Report Shows Home Prices Increasing At Highest Rate Since 1977

Housing Analysis , ,
U.S. housing markets continue to drive the economic recovery according to data released by RealtyTrac Inc. National home prices rose by 11.90 percent year-over-year for June. 48 states reported rising home prices with only Delaware and Mississippi reporting lower home prices. Nevada led the states with a 26.50 percent gain over June 2012. Cities also fared well on housing prices; 99 of the 100 largest U.S. cities reported gains in home prices. Rising Home Prices And Mortgage Rates, Short Supply Of Homes According to Mark Fleming, chief economist for CoreLogic, home price trends are rising at their fastest pace since…
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A Few Red Flags To Look For When Buying Real Estate

Home Buyer Tips , ,
If you're looking to purchase real estate, keep in mind that the homes you are considering might be in need of repairs or improvements. In a recent study done by a major home inspection company, at least 40 percent of previously owned homes on the market have at least one serious issue or defect. When buying real estate, you should have a professional inspection performed on the property to look for any issues that might not be visible to the untrained eye. It's better to identify this damage before you buy so that you are not stuck with budget-busting renovations.…
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Important Tips To Help When Behind On Your Mortgage Payments

Mortgage Tips , ,
What happens if you go through a tough financial period and you find yourself behind on your mortgage payments for your home? If you are missing mortgage payments and are having difficulty paying, this can become a serious problem. Even just one missed payment can be difficult to catch up on, and if you are in this situation it is important to get help right away. Contact Your Lender The first step in this circumstance should be to get in touch with your mortgage lender to explain the situation. Simply leaving things alone and not explaining why you have missed…
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What’s Ahead For Mortgage Rates This Week- August 5, 2013

Housing Analysis , ,
The past week brought encouraging economic news from several sources. The FOMC statement indicated that the Federal Reserve has not set a date for rolling back its quantitative easing program and ADP reported more private sector jobs added than expected. While weekly jobless claims were fewer than expected, the national unemployment rate remained elevated: Monday: Pending Home Sales: The National Association of REALTORS reported that sales contracts fell in June due to rising mortgage rates and a tight inventory of available homes. Tuesday: The S&P Case-Shiller Home Price Indices showed that national home prices increased by 12.2 percent annually. All 20 cities used…
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5 Important Summer Deck Inspection Tips

Around The Home , ,
Summer seems to be slipping away quickly. And, while you've hosted many barbecues on your back deck, you might not have had time to properly take care of it. August is the perfect month to conduct a deck inspection and make any repairs before the time comes to prepare it for winter. Below are tips on some issues to watch for and how to fix them. Inspect The Deck It's important to do a thorough inspection of your deck every summer. You don't want to step through a rotted board or have a railing break away from under you. Be sure…
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Fed Meeting Statement Positive For Ongoing Mortgage Sector Support

Federal Reserve , , ,
There was potentially good news for mortgage rates on Wednesday as the Fed's Federal Open Market Committee (FOMC) announced that its quantitative easing (QE) program would remain unchanged for the present. Economists expect the Fed to begin tapering the amount of QE toward the end of the year in accordance with Chairman Ben Bernanke's previous statements that "tapering" would likely begin near year-end. No specific date for reducing the QE assets purchases was given. Chairman Bernanke has previously indicated that the Fed will closely review domestic and global economic developments as part of its decision-making process for changing the QE…
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Case Shiller Home Price Index Shows Rising Prices For May 2013

Housing Analysis , , ,
The S&P/Case-Shiller Home Price Index (HPI) released Tuesday presented solid evidence that the housing recovery continued during the month of May. The Case-Shiller 20-City Index showed increasing home prices for all 20 cities. Highest Year-Over-Year Gains Included Theses Cities: San Francisco, CA 24.50 percent Las Vegas, NV 23.30 percent Phoenix, AZ 20.60 percent Atlanta, GA 20.10 percent Los Angeles, CA 19.20 percent In surprising news, Dallas, TX and Denver, CO posted record year-over-year price gains that surpassed their pre-crisis peaks. Year-over-year home prices in Dallas increased by 7.60 percent and Denver home prices increased by 9.70 percent year-over-year in May.…
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Questions To Ask Your Home Inspector Before Buying Your Home

Home Buyer Tips , ,
Imagine how frustrated you'd be to find out that the hot water heater wasn't working - in the middle of your very first shower in your new home! This, among other very good reasons, is why you should have a home inspection before you buy your home. When you buy a home, you need to know exactly what you're buying. A home inspection is an important part of buying your home. Before you hire a home inspector, ask candidates a few questions to make sure you hire a trustworthy inspector. What Does Your Inspection Cover? Not all inspections are the…
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