Tweet The housing market may yet be the proverbial tortoise. Month after month — slowly and surely — data proves what REALTORS® have known for six months. The bottom is behind us. The market is returning. Click here to get mortgage rates. New Construction Grows Steadily, Consistently In the housing market — as with other [...]
Tweet The federal HARP mortgage refinance program can be a huge boon for underwater homeowners. But if you have private mortgage insurance (PMI), what you have to pay on most mortgages if you buy a home with less than a 20 percent down payment, there’s a little hitch you should know about. While refinancing a [...]
Tweet When you own a home, fiscal responsibility goes deeper than just monthly principal + interest payments. There are taxes and insurance to manage, too. Click here to get a rate quote. Defining PITI The mortgage contract requires homeowners to make 4 payments each month — principal, interest, taxes, and homeowners insurance — collectively known [...]
Tweet Low mortgage rates have a funny way of changing people’s perspective. With Freddie Mac’s published mortgage rates sub-4 percent, homeowners are doing what it takes to refinance into today’s low mortgage rates — even if it means bringing some cash to closing. For the first time in history, nearly half of all refinancing households [...]
Tweet As compared to conforming loans and jumbo mortgages, FHA-backed loans are great for a lot of reasons. FHA mortgages allow purchases with low downpayments; they allow refinances without appraisal; and FHA mortgage rates are often pretty low. One place where FHA mortgages fall short as compared to other loan types, however, is with respect [...]
Tweet Shopping for a mortgage? The next few months could cause you some heartburn. Mortgage Rates Unsteady, In Flux The Federal Reserve recently released the minutes from it most recent Federal Open Market Committee meeting. The Fed Minutes are detailed meeting notes from FOMC meetings, similar to the follow-up notes from a condo association meeting, [...]
Tweet The housing market is quietly building momentum, buoyed by mid-range home values and a growing group of buyers. If your plans for 2012 call for buying a home, the sooner you act, the better “deal” you may get. Click here to get a mortgage rate. First-Time Home Buyers Drive The Market Each month, the National [...]
Welcome to my blog. I’m glad you’re here. Get notified by email when I write something new on The Mortgage Reports. Click here for free email alerts or subscribe to the RSS feed in your browser. Tweet I contribute regular mortgage market commentary to HSH.com, a well-known financial market website. HSH is known for its [...]
Tweet Within weeks, new, required loan fees will make buying a home — and refinancing one — more expensive. Save money on your next FHA mortgage, or conventional one. Start your mortgage loan application today. Click here to get today’s mortgage rates. U.S. Payroll Tax Extension : Funded By New Mortgages In December 2010, the U.S. [...]
Tweet When a bank decides your monthly principal + interest mortgage payment, the payment is based on the principles of amortization (ah-mor-ti-ZAY-shun). With respect to fixed-rate mortgages — either conventional, FHA, USDA, VA, jumbo, or other – amortization is the process of paying a loan to $ 0 over time. Click here for a rate quote. Comparing Mortgage [...]
