SO, YOU NEED A MORTGAGE:

SO, YOU NEED A MORTGAGE:

IS YOUR BANK THE BEST PLACE TO GO? – Part 2

Last time, we presented a few things to consider if you are thinking about financing for your new home. Specifically, should you use a local bank or a Mortgage Banker? It may seem like the logical step is to call your bank. They have your banking accounts and since the Bank has your financial information, the process will be easier. Unfortunately, this is rarely the case. ...

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Interest Rate Update

Interest Rate Update

Since I last wrote this update back in April, interest rates have been amazingly steady. The Federal Reserve raised short-term rates again in June. That is having a direct impact on adjustable rate mortgages (that are now adjusting), home equity lines of credit, and car loans. The prime rate has now risen from 3.25% in 2015 to 5% today. They have penciled in two more increases this year potentially, which would bring it up to 5 ...

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What if I Wait?: Buying a Home Next Year…

What if I Wait?:  Buying a Home Next Year…

According to the recent Home Price Index Report by CoreLogic, home prices have increased nationally by 6.7% year-over-year. During that same period, interest rates have stayed at near historic lows. This has allowed many buyers to enter the marketplace.

If you are selling your home, your concern is likely to be the short-term price (which is where the values are heading over the next few months). If you are positioned to be a ...

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Spring is a Great Time to Buy a Home!!

Spring is a Great Time to Buy a Home!!

Here are four reasons why Spring is a great time to buy a home.

Rising Prices

According to CoreLogic’s latest Home Price Index report, home prices have appreciated by 6.6% over the last 12 months and prices will continue to rise over the next year (approximately 4.3%). If you are waiting for the bottom of the market with regards to home values, waiting no longer makes sense; The bottom has come and gone.

Increasing Interest Rates

Freddie Mac’s Primary Mortgage ...

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7 Factors: What to Consider When Choosing a Home to Retire In

7 Factors:  What to Consider When Choosing a Home to Retire In

As the population ages and more baby boomers near retirement, the question of what to do about housing becomes an important one. Given the low available inventory in the starter and trade-up home categories, it makes sense for homeowners to evaluate their homes’ ability to adapt to whatever needs retirement may bring. According to NAEBA (National Association of Exclusive Buyers Agents), there are 7 factors that you should consider when choosing your retirement home.

  1. Affordability

“It may ...

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Market Insights –

…for 2018!

What does the New Year of 2018 have in store for the housing market?? Consider the following few things:

1.  Both home prices & values are expected to rise moderately. The Atlanta Metro area homes, in particular, are expected to have an increase of around 5%. Rental rates, finally, will not rise near as ...

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Could Now be the Perfect Time to Buy a Home?

Could Now be the Perfect Time to Buy a Home?

We’ve all heard about how interest rates are at an all-time low… and how they’re expected to go up within the next couple years. But for those who may be new to the home buying market, what exactly does “all-time low” mean? Let us put it in perspective for you… take a look at why now really is the best time to buy!

Click to See the History of Interest Rates

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Fixed Rate Loans Vs. Adjustable Rate Loans

Fixed Rate Loans

These loans are fixed for either a 10, 15, 20, 30 or now even 40 year period. They are amortized over the period of time you select, so the shorter the period the larger the monthly payment will be. Also, the shorter the time period you select the more significant the interest savings will be over the term of the loan. But one note of caution is that you should make sure that you ...

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Factors That Affect Home Mortgage Rates

Home loans can be generally placed into one of four categories; Conventional, Alt-A and Sub Prime and second mortgages/home equity lines of credit. We will briefly touch on what impacts rates for each of these types of loans.

Let’s start with the most common, conventional loans. Fannie Mae and Freddie Mac are quasi governmental agencies that set the guidelines for what is considered a conventional loan. If a loan meets Fannie or Freddie ...

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How Interest Rates Change Daily

The mainstream mortgage market is no longer run or controlled by the banks. Wall Street has replaced the traditional bank and now pulls purse strings of this vast mortgage market via “mortgage backed securities.”  A mortgage backed security (MBS) is simply a bond instrument in which anyone can invest. MBS’s are trading in the free and open market everyday just like stocks and bonds.  The collateral for this investment is a group or “pool” of home mortgages just like the ...

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