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Home Sales are Fast and Furious in the calendar month of June, homes sales totaled more than 5 million, According to the National Association of REALTORS® on a seasonally-adjusted, annualized basis and shows no signs of slowing. More than half of homes that were listed through the MLS system were sold within 30 days or roughly… Read more »
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WHERE ARE ALL OF THE FIRST TIME HOME BUYERS?
What’s going on with the first time homebuyer? It is hard to decipher the recent housing number reports as all of the first time home buyer seem to be disappearing. Because of recent market changes the May housing report is at it’s highest numbers since May 2006. Bloomberg, also reported that mortgage applications have sunk… Read more »
WHY WAIT 365 DAYS, WHEN YOU CAN CELEBRATE CHRISTMAS IN JULY?
A fun alternative to a traditional summer backyard barbecue is to have a Christmas in July theme party! The holiday season has been months ago and a foggy memory of all the good times so now is the perfect time to break up with dog days of summer with Christmas in July. Bake your cookies… Read more »
VA MORTGAGE LOAN INCOME GUIDELINES
When apply for a VA mortgage loan it is important to know the income guidelines to qualify for your home purchase. Most people already know the basics about no-down payment mortgage programs including the VA home loan, however it is important to understand how your income will be qualified as a military veteran. VA loan income… Read more »
Mortgage Rates Higher After Stronger Then Expected Jobs Report
The all important Jobs report just recently came out and beat Wall Street’s expectations by a large margin. There were 195,000 new jobs last month and also more positive revisions to the last two months of reports. This has caused the bond markets to react negatively which in turn has raised interest rates. Some experts… Read more »
BUYING A HOME IN A SELLERS MARKET | MAY HOME SALES
May sales indicate the US housing market is blazing a trail to the best start in the past six years according to the National Association of REALTORS® (NAR). With their monthly existing home sales reports analyzed we can see that “existing” homes sold climbed to 5.18 million for May of this year. With more homes… Read more »
Affect on Mortgage Rates from Bernanke Announcement
Federal Reserve chairman Ben Bernanke announced today that they may be easing the quantitative easing programs as early as this year. This program includes the purchases of mortgage backed securities (MBS) which are the packaged residential mortgages sold by banks and mortgage companies. The slowing of these purchases would take affect if the unemployment rates… Read more »
What to do After You Get a Low Appraisal on Your Home
Mortgage Basics 101: What Is A Home Appraisal? According to the Appraisal Institute an appraisal is a professional appraisers opinion of value. In today’s mortgage and lending environment a home owner or buyer cannot get through the mortgage process without getting one of these valuable reports unless the homeowner utilizes one of the few specialized refinance… Read more »