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Thursday, October 25, 2012

Mortgage rates to rise, slowly

After reaching record lows in 2012, mortgage rates are expected to creep up slowly in the year ahead, the Mortgage Bankers Association predicted on Tuesday, October 23, 2012. 

Mortgage rates predicted to rise in 2013, slowly
Rates on the 30-year fixed-rate mortgage are expected to average 3.8% in the fourth quarter of 2012, rising to 3.9% in the first quarter of 2013 and eventually rising to an average 4.4% by the fourth quarter of next year, the MBA said. The 30 year mortgage rate is expected to average 4.1% for all of 2013.

Call me to review your purchase or refinance options at today's 'best rates in our lifetime!".  :)

Helpful personable guidance! Loan closing October 24, 2012

Brandon and Marty celebrating a great interest rate! 
Marty, your help when we bought our home 3 years ago was awesome and the help you have given us on this refinance was awesome as well!

When we call you we know we will get the most helpful guidance and this time was no exception!  The new FHA streamline refinance program with the special rates were perfect for us!  Thanks for the analysis, we are going to save a ton of interest!  :)

We appreciate how personable you are!  We will recommend you to our friends and family whenever we can!  Thanks, Brandon

I would also like to add how much we appreciate the time you take to keep us updated throughout the loan process. Thanks again for helping us with this refinance and getting us into this house to begin with!  We loved working with you both times. 
Thanks again,

Brandon and Crystal Malby  Closing October 24, 2012

Wednesday, October 24, 2012

Homeownership and Children: It's a great combination!

Study Concludes Homeownership Tied to Positive Outcomes for Children

For Sale Kid Credit: Jupiterimages
Homeownership is associated with lower high school dropout rates and lower teen birth rates, according to a new study by professors Richard K. Green and Gary D. Painter at the University of Southern California and Michelle J. White at the University of San Diego.

The study, "Measuring the Benefits of Homeowning: Effects on Children Redux" found that, after accounting for other factors such as parental education, the dropout rate among children living in owner-occupied homes was 2.6 percentage points lower and the teen birth rate was five percentage points lower than for children living in rentals.

Key findings from the study include:

Tuesday, October 23, 2012

Why FHA Streamline Refinances are so great

The FHA Streamline Refinance has perks!
The FHA Streamline Refinance is a unique mortgage product, available to homeowners with existing FHA home loans. The program was built to be the fastest, simplest way for an FHA-insured homeowners to refinance their respective mortgages.

The FHA Streamline Refinance's big draw is its leniency.
For homeowners using the FHA Streamline Refinance program  -- according to the FHA rulebook--  income is not verified; employment is not verified; and, credit scores are not verified.

So long as an FHA-backed homeowners makes his mortgage on-time payments for a period of at least 12 months, a mortgage approval is all but guaranteed.  Call or e-mail me if you have an FHA loan that you would like to refinance and I can review your benefits. 

The FHA Streamline Refinance is an excellent program with lots of success stories. It remains the fastest, easiest mortgage refinance program in the country.
For portions of my Blog Post I would like to thank Dan Green (NMLS #227607) who is an active loan officer with Waterstone Mortgage and writes excellent daily Blog posts about the Mortgage Industry.  

Benefits of closing your home sale or purchase by year end

Benefits to Buy and Sell by year end!

5 Payoffs of Closing Escrow By Year's End
By Tara-Nicholle Nelson | Broker in San Francisco, CA 
Every intentional human behavior has one or more payoffs. Sometimes they are rewards we’re consciously aware of, like getting our literal paychecks in exchange for the sweat of our brows. Other times, we are much less conscious of the potential payoffs of our behavior, as when someone procrastinates at filing their taxes to avoid the realities of their financial situation (for a while - the tax man always cometh, sooner or later).

Psychologists call these less-obvious payoffs “secondary gains.” According to them, a payoff is a payoff, whether or not you know you’re getting it!

When it comes to putting a firm, year-end deadline on your personal mission to buy or sell your home, there are the obvious payoffs of having 2013 dawn on your new life in your new home, being out from under water or simply being able to move onto a new phase of your life.  But there are loads of secondary gains, as well.

Here is a handful of payoffs, some obvious, some less, which you stand to realize by getting your home purchase or sale closed before the curtain drops on 2012 - and the ball drops on 2013:

Monday, October 22, 2012

Don't Procrastinate.

If you have a home loan call me for refinance analysis!

A post card hit my clients mailboxes today to remind them that rates are at near historic lows and if they have a home loan, they can probably see a significant savings each and every month by refinancing!

I'm encouraging my clients to call now to see how much they can save!

Gas Prices are UP.  Airline Travel is UP. 
Home Mortgage Refinance Rates are DOWN!