Buying A Home: Buying a home is an exciting time! To make the process more efficient and enjoyable make sure you’re prepared before you start looking. Getting the documentation you need to qualify and close your loan before you apply with a mortgage company will make your loan process more efficient. It also might end up saving you money. So … Read more
Builder Confidence Rises: Earlier today the National Association of Home Builders issued their February 2019 Housing Market Index report and it came in stronger than expected. Last month the reading came in at 58, and expectations were for a reading of 59 however the final reading came in at 62. The increase was attributed to a healthy economy and lower … Read more
Applications Decline Nearly 10%: According to the Mortgage Bankers Association mortgage applications dropped 9.8% (seasonally adjusted) in the their most recent survey; a significant decline even for the holidays. Despite mortgage rates moving down to nearly 1 year lows; homeowners and homebuyers seemed to shy away from starting a new loan application. Un adjusted it dropped 46% compared with two … Read more
Should You Be Concerned?: A concern is growing among homeowners, homebuyers and realtors – will this current government shutdown prevent borrowers from closing their mortgage on time? The quick answer is not yet. If you are closing in the next week or two you should be fine because your mortgage company has probably already received the 4506-T report back from … Read more
Happy New Year! From our family to years we wish you the very best for 2019. Markets are closed today and will re-open on Wednesday. There are no important economic reports on Wednesday however on Thursday we have the ADP National Employment Report for December, ISM New York Index for December, ISM Manufacturing PMI, ISM Manufacturing Prices Paid for December (an … Read more
Existing Home Sales: According to the National Association of Realtors Existing Home Sales increased in November despite elevated mortgage rates and signs housing might be slowing down towards the end of 2018. This is the second month in a row Existing Home Sales have increased and 3 of the 4 major regions of the U.S. saw gains. Going forward it … Read more
Important Fannie Mae Update: On December 8th, 2018 the mortgage giant Fannie Mae will be updating its Automated Underwriting System which will adopt some new guidelines for conforming mortgages. Significant changes will come to loan programs that deal with borrower’s that have “debt-to-income” ratios that are looking to take cash out from their property. All conforming loans go through either the … Read more