mortgage rates: A Timely Reminder of Just How Competitive Mortgage Rates Still Are
- 11/29/16 07:11 PM
An Albuquerque Journal online article certainly grabbed our attention earlier today. The report said that latest Standard & Poor’s CoreLogic Case-Shiller national home price index, released today, is slightly above the peak it reached prior to recession in July 2006, rising 5.5% between September 2016 and September 2015. While this offers a national snapshot, and there are naturally regional variations, it's important to consider the implications of this excellent news at a time when rising mortgage rates have been the overwhelming real estate industry focus since the election (although they do appear to have stabilized in the past few days). Above all, the index … (1 comments)
mortgage rates: Mortgage Rates - Time Once Again For Some Perspective
- 11/15/16 07:15 AM
In retrospect, it was perhaps inevitable that financial markets would react to the election result last week, regardless of who won. After an immediate downward reaction to the result, stock markets quickly rallied, which caused bonds, a safe-haven investment when stocks are unattractive, to suddenly become less appealing. A side-effect has been for mortgage rates, which are closely linked to the demand for bonds, to rise in the past few days. Of course we cannot, and should not, pretend that this is anything but unwelcome news if you're currently buying a home. However, it is perhaps a good time for us all to pause, … (0 comments)
mortgage rates: Which Way Now For Mortgage Rates?
- 06/09/16 02:32 AM
We are, unbelievably, almost at the half way mark in 2016 and we're still enjoying ultra low mortgage rates. This week, following disappointing job data, in particular, rates fell to very near the best levels we have seen all year. The background story to what's happened to rates this week is bound to increase speculation on their future direction, as there are now a number of variables in play that could see them drop even further. Today's news that job creation remains weak, despite a low unemployment rate of 4.7%, will do nothing for the confidence of investors. May saw the lowest level of … (0 comments)
mortgage rates: Five Weeks and Counting - The Fall and Fall of Mortgage Rates
- 02/05/16 07:08 AM
No one would say that the current turbulence in stock markets is a good thing, however this has given rise to a fresh wave of risk aversion that is undeniably benefiting home buyers and sellers right now. This is the fifth straight week that we have seen falls in mortgage rates, which are now near to 3 year lows for a 30 year home loan (currently around 3.5% according to Zillow). All the turmoil in markets has provoked investors to once more seek safe haven investments with minimal risks. This has made bonds an increasingly popular choice of late and seeing as increases … (1 comments)
When buyers search for homes online, they typically type in a few criteria such as the required number of bedrooms and bathrooms. The resulting search results are invariably grouped in price brackets, often displayed in $10,000 or $25,000 increments. What's crucial to understand here is that these brackets drive what buyers actually see. If your home is priced out of its optimal price bracket, the optimum potential buyer could miss your home among hundreds of others that may be larger, newer and have more features and amenities in comparison to yours. Bottom line: By pricing your home in the next price bracket it could be … (0 comments)
mortgage rates: Low Mortgage Rates - A Great Time to Sell or Buy in the Albuquerque Area
- 02/01/16 11:28 PM
Despite the FED raising its interest rates for the first time in many years... They are still at near historic lows and it's worth bearing in mind they are currently less half what they were in 1990! Despite many predictions to the contrary, the diminution in Federal support for the housing market just hasn't resulted in the anticipated big hike in interest rates. A cocktail of variable economic indicators and uncertain international affairs have certainly contributed to keeping rates at such affordable levels. This is a continuing feel good news story for both buyers and sellers. Home seekers are still finding that the cost of … (1 comments)
mortgage rates: Winning Strategies for New Home Buyers
- 01/20/16 11:51 PM
In a previous blog, we explored eight great reasons to become an Albuquerque area first time buyer right now. We hope we inspired some would-be house owners to think very seriously about taking the big step of finding a home of their own. Today, we'd like to offer some simple strategies to help you along in that process: Identify your needs - No one has exactly the same requirements from their home, of course. That's why there is never a "cookie cutter" one size fits all solution. Therefore it's really a good first step to sit down and define not only what facilities you need right … (0 comments)
mortgage rates: 2015 - Year In Review 1: Mortgage Rates
- 12/31/15 02:56 AM
With just one day of 2015 left, it's time for us to begin our look back on the key influences on Albuquerque area real estate during this year. Given the momentous Federal Reserve announcement of a 0.25% rise in interest rates this week, it seems appropriate that we first reflect on mortgage rates, which have arguably been the single biggest influence on the excellent performance of the housing market in the past 12 months. Although history suggests that a rise in the Federal Funds Rate is not closely tied to the fortunes of mortgage rates, this week's news has nonetheless provided an increased focus on … (0 comments)
mortgage rates: The Ability to Repay Rule Explained
- 12/29/15 11:02 AM
On January 14th, 2014 the new Ability to Repay, or Qualified Mortgage (QM), Rule came into force. The Rule states that a borrower can't have a higher debt-to-income ratio than 43%. It also lowers the fee that can be charged by the lender to three percent of the loan's total amount. Given that a lot of the practices the Rule bans have already disappeared from the mortgage market, the immediate impact on borrowers is going to be minimal. It is also very likely that innovative new mortgage products will launch to further ease the situation. For many new borrowers, however, these changes will not have … (2 comments)
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