According to a recent Gallup poll, only 10% of respondents believe that prices will fall. The remaining 90% are split between rising and staying the same, at 64% and 26% respectively. In 2009, during the recession, only 22% of respondents believed home prices would be going up soon. Because of rising house prices, about the […]
The end of February, interest rates were at a four-year high, with 30-year fixed rate mortgages averaging 4.40% and 5-year adjustable rate mortgages averaging 3.65%. At the same time, interest on treasury notes is down. This means investors are abandoning bonds and now buying mortgages. Despite changing their methods, investors don’t have any concerns about […]
The following article is reprinted from first tuesday journal, and was written by Carrie B. Reyes. We seldom reprint entire articles, however this contains a unique interpretation of statistics worthy of being widely distributed. Our thanks to first tuesday journal and Ms. Reyes. On a monthly basis, 2.9 homes sold per 1,000 households at the […]
Did you ever wonder where the money comes from to make mortgage loans? Or, how the interest rates are determined? As complex as lending can become, most of the time it’s pretty straight-forward. When the systems are operating as designed, it works as follows. And the money goes round & round The Federal National Mortgage […]
This is the first in a series of detailed discussions about the process of buying a home. We will be following the outline provided on our website under the section titled “Specially for Buyers.” Obviously, the steps are the same, whether buying or selling, however, buyers often focus on different aspects of a transaction than […]