Last week’s economic reports included readings from the National Association of Home Builders on housing markets; the National Association of Realtors® released data on sales of previously-owned homes and the Commerce Department released readings on housing starts and building permits issued. Weekly reports on mortgage rates and new jobless claims were also released. NAHB: Builder Confidence Rises in December According to the National Association of Home Builders, builder confidence in housing market conditions rose in December to an index reading of 76 as compared to … [Read More...]
When someone is interested in buying a home, there are a number of factors that people need to consider. Some of these include the budget, the size of the home, and the mortgage interest rates. The mortgage rate is going to play a tremendous role in whether or not someone is going to be able to afford their dream home. For this reason, it is critical for everyone to know how a mortgage rate is determined. There are a number of factors in someone's financial history that are going to impact the mortgage rate the lender offers. The Credit Score One of the most important factors that a … [Read More...]
When someone purchases their first home, this is a significant step. There are a number of issues that people need to think about because purchasing a home is typically someone's most significant investment. With this in mind, there are three common traps that first-time homebuyers often fall into. Fortunately, there are ways to avoid these traps as well. Looking At Homes Before Applying For A Mortgage Perhaps the biggest mistake that people make is that they look for homes before they apply for a mortgage. Without a successful mortgage application, it will be difficult to find a home at all. … [Read More...]
It is important for everyone to diversify their investments and one of the assets that people often look toward is real estate. In a healthy market, real estate should appreciate in value. It is often less risky than investing in individual stocks and can provide a much higher return on investment than a typical bank savings account or even a money market account. On the other hand, people often think that they require a large amount of money to even think about investing in real estate. This is not always the case. Buying Property Outright One of the most straightforward ways to get started … [Read More...]
College is expensive and everyone needs to think about how they are going to cover the costs. Some of the costs include tuition, room and board, meals, books, and spending money. In order to pay for college, some people consider taking out a second mortgage instead of taking out a student loan. How can someone know if taking out a second mortgage is the answer for them? There are several factors to consider. The Interest Rate One of the factors that people need to consider is the interest rate on the second mortgage. The higher the interest rate, the more expensive the second mortgage is going … [Read More...]
Last week’s economic reports included readings on inflation and retail sales; the Federal Reserve released its post-meeting statement from its Federal Open Market Committee. Weekly readings on mortgage rates and new jobless claims were also released. Inflation, Retail Sales Rate Dip in November The Commerce Department’s Consumer Price Index dipped in November to a growth rate of 0.20 percent as compared to October’s growth rate of 0.40 percent. Analysts expected inflation to slow to 0.20 percent growth. Year-over-year inflation rose to 2.10 percent, which was its highest … [Read More...]
