mortgage: Interest Rate Increases and the Effect it Will Have on You! - 11/19/13 06:35 AM
Last month, the Mortgage Bankers Association (MBA), the National Association of Realtors, Fannie Mae and Freddie Mac all projected that mortgage interest rates are projected to increase by about one full percentage point over the next twelve months. We also know that home prices are expected to increase over the next year. 
What impact does an interest rate increase have on the mortgage payment of a home selling for approximately $250,000?
Your principal and interest payment on a $250,000 home would be $1,222.54 on a mortgage with an interest rate of 4.2%.  On the same mortgage but with an interest rate … (0 comments)

mortgage: Becoming a Homeowner - 10/11/13 05:57 AM
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mortgage: Recovery Continues - 07/22/13 11:51 PM
Sales of existing homes rose 3.1% and median prices jumped 12.3% during the month of June in Wisconsin’s housing market.  This is the 24th consecutive month of sales growth in the state according to the Wisconsin Realtors Association. 
June typically is the peak month for home sales, but sales are expected to remain stable even though interest rates are rising.  The average rate for a 30 year fixed mortgage was 4.07%  which is up from 3.54% in May. 
All in all, these figures point to a healthy picture of the residential home market in Wisconsin mid-year. 
(1 comments)

mortgage: Warren Buffett and His Theory on Investments - 02/28/12 05:21 AM
 
           
 
Warren Buffett… oh yes, we all know that name.  He is a business magnate, investor and philanthropist.  He is regarded as one of the most successful investors and is the CEO of Berkshire Hathaway which is a multinational conglomerate holding company in Omaha, Nebraska.  He was the 3rd wealthiest person in the world in 2011.  He also has pledged to give away 99% of his income, primarily to the Gates Foundation.
 
I have read a bit about him and yes…his theory is that you have to invest in something.  If you keep your money in your … (3 comments)

mortgage: What Are Buyers Waiting for? - 10/27/11 08:37 AM
With low home prices and ultra-low interest rates, the housing market is offering perhaps thebest deals of this generation.Since the housing boom of 2006, home prices have fallen about 31 percent. Also, mortgage rateshave been hovering at record lows for the past few weeks (4 percent range or even lower on 30-year fixed-rate mortgages).It’s hard to see the possibility of losing on a home purchase right now with these mortgage rates.Prices may go lower, but not by much.Here is a good scenario that shows that waiting to buy is probably not a good idea. Buying a$300,000 home with a 4 percent … (1 comments)

mortgage: RISING CONSUMER CONFIDENCE - 09/21/10 04:08 PM
Fannie Mae released a survey showing that 70% of those polled in June and July feel that NOW is a goodtime to buy a home! That is up from the 64% that were surveyed in January. At the same time, 83%of those surveyed think that it is a bad time to sell, which probably is not such a bad thing since thereis plenty of inventory for buyers to choose from. The fact remains that some people do not have theluxury of waiting for a better time to sell. Reasons such as divorce, retirement, marriage, loss or declineof income and others are … (1 comments)