Interest rate changes expected in the not too distant future
Consistently historic low mortgage rates have led to unprecedented demand for home purchasing since the onset of the COVID-19 pandemic. As a result, home prices have been surging. Worries about inflation have finally forced the Federal Open Market Committee (FOMC) to...
One way to be a competitive buyer during a housing boom
Even though some home prices and sales are finally leveling out after months of a bullish real estate market, those looking to purchase a home aren't in the clear just yet. Competition is relatively high given the limited housing inventory, so it is good to be as...
Shortening Your Mortgage Term
With rates still low...you may want to consider shortening the term of your mortgage. Shortening your mortgage term is a great way to save money on interest. Often, shortening your term means you'll receive a better interest rate. A better interest rate and fewer...
Why are credit scores different with the different bureaus?
When getting ready to buy a house (or refinance), you will go through the process of getting your credit scores. Often times the credit scores are a bit different across the major bureaus when your credit is pulled by a lender. Why does this happen? Actually, there...
Now is a great time for a cash-out refinance
Home values are through the roof and rates are still very low. Higher home values and interest rates as low as they are means you may be able to refinance with some cash out to pay off high interest debt. You might even be able to reduce your monthly mortgage payment...
Spring home buying season is very different this year than most other years
Spring is normally the hottest time of year for home sales. Buyers get serious when the warmer weather arrives and most families want to move before the next school year begins. Last year, the coronavirus crisis led to a housing market halt in mid-March, as states...
How are things looking for the 30 and 15-year mortgages?
Low mortgage rates are adding fuel to a housing boom fire. House hunters are taking advantage of today's historically low rates as soon as they possibly can. In fact, the interest rate on the nation’s most popular mortgage has dropped for the second week in a row and...
How is inflation affecting rates?
There are a few things the financial markets are saying are important for interest rates, stocks, and the economy. One of them is inflation. The March Consumer Price Index (CPI) came in at 2.6% year-over-year, the highest level since August 2018. While there are key...
It is a great time to take advantage of the current interest rates
Conventional wisdom tells us that when stocks rise, rates decline. It also typically tells us that when inflation moves higher, rates typically increase. Generally speaking, as the economy reopens, rates will rise. Here is what has happened recently. Stocks rallied to...
The Fed continues to help keep rates as they are
One of the things helping keep rates low as the economy recovers is the Fed. Stocks are generally in positive territory thanks to recent reports that the Fed is still “not even thinking about, thinking about” raising rates or tapering the bond purchase program. So...