What’s Ahead For Mortgage Rates This Week – July 27, 2015

Last week’s scheduled economic news releases were limited as no news was released on Monday or Tuesday, but good news did arrive in the form of a dip in mortgage rates for fixed rate loans. The National Association of Realtors® reported higher sales of pre-owned homes and FHFA reported that home price growth associated with mortgages held or backed by Fannie Mae and Freddie Mac held steady in May. Sales of Pre-Owned Homes and FHFA House Prices Rise According to the National Association of Realtors®, June sales of existing homes reached their highest level since February 2007. Sales of used homes reached a seasonally-adjusted annual rate of 5.47 million previously owned homes sold against expectations of 5.42 million homes and May’s reading of 5.32 million...

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Have a Weekend to Spare? Consider These Quick Renovations to Add Value to Your Home

Homeowners who are thinking about listing their home for sale in the coming weeks or months may be focused on improving their home to help it sell more quickly, but there also may be a focus on adding value to the home in the process. While each home is unique, there are a few projects that most homeowners would benefit from. In fact, these are a few simple and easy projects that can typicaly be completed over the course of a weekend; that can add value and desirability to the home. Replace The Front Door The front door has an impact on curb appeal, and it also is one of the primary features that buyers will see when they approach your home to take a...

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Good News! Existing Home Sales, FHFA Home Prices Increase

Housing markets show continued signs of strengthening according to reports released on Wednesday. The National Association of Realtors® reported that sales of pre-owned homes rose to 5.49 million in June as compared to May’s revised reading of 5.32 million pre-owned homes sold and expected sales estimated at 5.42 million sales. Expectations were based on May’s original reading of 5.35 million sales. June’s reading was the highest since February of 2007. Readings for existing home sales are calculated on a seasonally adjusted annual basis. Buyers Gain Confidence in Labor Markets, Rush to Beat Rate Hikes Lawrence Yun, chief economist for the National Association of Realtors® said that buyers may be influenced by rising mortgage rates and encouraged by improving job markets. Analysts expect the Federal Reserve...

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Assessing Your ‘Debt-to-Income Ratio’ and Why This Number Matters When Getting a Mortgage

If you are looking to buy a home, you may want to consider shopping for a loan first. Having your financing squared away ahead of time can make it easier to be taken seriously by buyers and help move along the closing process. For those who are looking to get a mortgage soon, keep in mind that the Debt-to-Income ratio of the borrower plays a huge role in the approval of your mortgage application. What is a Debt-to-Income Ratio? A debt-to-income ratio is the percentage of monthly debt payments compared to the amount of gross income that a person earns each month. Your gross monthly income is typically the amount of money you earn before taxes and other deductions are taken out. If a person’s...

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Seeking the Perfect Summer Home Improvement Project? It’s Time for an Inground Pool

The warmer summer months provide homeowners with the ideal conditions for making improvements to their property. One of the more popular options for summer time improvement ideas is installing an in-ground swimming pool.  While a swimming pool may seem like a pure luxury to some, there are actually considerable benefits that homeowners can enjoy by adding an in-ground pool. With closer consideration, homeowners may decide that this is the ideal improvement to make to their property. The Perfect Place For Relaxation And Entertainment Many homes provide ample space for basic living, but they often lack an extra space that is well-suited for personal relaxation and for entertaining family and friends. An in-ground swimming pool can enhance a backyard area and can create the ideal space...

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