2016 Mortgage Rate Outlook

2015 was an easier year than most, for mortgage rate shoppers. Consistency was the standard,  with rates generally hovering  below 4% for most of the year. That consistency was a mortgage market anomaly though. In fact, it’s been nearly 20 years since we’ve had such a consistent mortgage rate environment. You have to go all […]

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6 Predictions For 2016 Housing and Mortgage Market

2015 was an eventful year in the housing market. Plagued by lack of inventory, housing markets did what they could to keep up with the demand as rates defied prognosticators and stayed near historically lows throughout the year. Rents increased far beyond normal, stretching affordability in the rental market. Those increase will force some decisions […]

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The 2015 Housing Market Recap

It was an eventful year in the housing market. Demographic shifts, inventory issues, skyrocketing rents, historically low mortgage rates, sweeping changes in the mortgage industry, increasing reliance on technology by home shoppers and those pesky millennials – who continue to be the subject of housing market consternation. The post-crash hangover still lingers in some markets, […]

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How the Fed Rate Increase Affects Mortgage Rates

The Federal Open Market Committee – also known as the Federal Reserve or just the “FED” –  makes big decisions that impact the future of the American (and even the world) economy. The Federal Open Market Committee (FOMC) is a rotating, 12-person sub-committee within the Federal Reserve, headed by Federal Reserve Chairwoman Janet Yellen. The […]

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15 or 20 or 30 Year Fixed – Which Mortgage is Right for You?

While most mortgage lenders and borrowers focus on the omnipresent 30 year fixed rate mortgage, other mortgage terms do exist. Many of them offer lower interest rates in addition to the added benefit of paying off your loan quicker. So, is the 30 year mortgage always the right choice? Are there drawbacks to choosing the […]

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[Infographic] Home Sales Data Continues to Highlight Inventory Issues

With mortgage rates remaining below 4 percent for the third straight month, existing-home sales in October were at a healthy pace but failed to keep up with September’s jump, according to the National Association of Realtors®. All four major regions saw no gains in sales in October. Total existing-home sales, which are completed transactions that […]

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HomeReady™ Program Will Offer 3% Down Payment On Conforming Loans

Fannie Mae Announces New Low Down Payment Mortgage Product Fannie Mae made big news this week when they announced a new mortgage product designed for low to middle income borrowers. The move officially retired the MyCommunity mortgage that had been a mainstay Fannie Mae product for years. Fannie Mae’s announcement of the HomeReady™ mortgage, an […]

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Mortgage Rates Jump 0.25% on Fed Comments and Employment News

In last 2 weeks, mortgage rates have jumped sharply. They are up 0.25% for most loan programs and the outlook is for something worse for the rest of 2015. Day to day mortgage rates are decided by the movement of mortgage backed securities (MBS) as traded on the Wall Street.  The lower the price of […]

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Finance Your Renovation with an FHA 203k Mortgage Loan

During the housing market collapse and Great Recession of 2008 many Americans lost their homes to foreclosure. Some of those mortgages failed because they were bad loans from the beginning. Some of those failed mortgages were strategic. The homeowners reviewed their equity position and just decided to walk away. Others failed due to loss of […]

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Your Guide to VA Mortgage Eligibility

  Veterans deserve rewards. They serve our country in a way that many would not or could not. One of their primary perks is access to some of the best mortgage financing available anywhere on the market. Get Pre-Approved VA loans are backed by the Department of Veterans Affairs and available to active duty members […]

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