Buying a home isn't cheap – and even though mortgage rates are low, your own financial circumstances may mean that your monthly payment is more than you can afford. Whether you're a new buyer looking to save money or a cash-strapped owner who needs to free up extra income, there are several ways you can lower your monthly payments – here are just five of them. Make 13 Payments Every Year If you have some extra money and you're looking to pay down more of your principal amount, making 13 annual payments instead of the usual 12 is a great way to not only reduce what you owe, but also … [Read More...]
Beyond the mortgage, maintenance and property taxes of a new home, you may not be aware that many newer communities require you to be part of the Homeowner Association (HOA). If you're wondering about what the HOA entails and how this can impact the home and community you live in, here are some facts that may be important to know before you buy. What Is A HOA? If you happen to have a Homeowner Association present in your new community, it's important to know that this body works to enforce the rules of the neighborhood. Made up of a group of volunteers that live within a given area, different … [Read More...]
Spring-cleaning might seem like a necessity if you've accrued a lot of stuff through the fall and winter seasons, but it can be hard to determine how to get your kids involved. If you're looking for tips on how to get this task done and engage your children at the same time, here are a few fun ways. Play Some Tunes It goes without saying that almost everything is more fun with music, and kids will readily agree with this! Instead of silence, pique your children's interest with their favorite album and encourage them to take the duster or mop along with them. Offer Up A Reward It's important … [Read More...]
Last week's economic releases included Existing Home Sales, Commerce Department Releases on Housing Starts and Building Permits and the National Association of Home Builders/Wells Fargo Housing Market Index. Mortgage rates and new jobless claims were released according to their weekly schedule.
Home Builder Confidence Holds Firm in April
According to April's National Association of Home Builders/Wells Fargo Housing Market Index, home builder confidence held steady with a reading of 58 for the third consecutive month. Analysts viewed April's reading as a sign of steady expansion for home … [Read More...]
Home buyers kicked the spring home shopping season into gear and boosted sales of pre-owned homes in March. Existing home sales rose 5.10 percent in March according to the National Association of Realtors®. 5.33 million pre-owned homes were sold in March against expectations of 5.30 million sales and February's reading of 5.07 million sales on a seasonally adjusted annual basis. Demand for homes remains strong in spite of rapidly escalating prices in many areas. Short supplies of available homes continue to drive demand and home prices. Sales rose only 1.50 percent year-over-year, but … [Read More...]
Finding the right mortgage can be a struggle. There's a wide array of mortgage products on the market, and you don't always need to get a mortgage through your bank – and with so many options, it's hard to know which one is your best bet. Your ideal mortgage will depend on your own individual financial situation, but when you understand how different kinds of mortgages work, it's easier to choose the right one. Here's what you need to know about mortgage types. Fixed-Rate Mortgages: Home Financing At A Guaranteed Rate A fixed-rate mortgage is exactly what it sounds like: A mortgage with … [Read More...]
