home buying: What’s Ahead For Mortgage Rates This Week – May 20th, 2019 - 05/20/19 12:38 PM
Last week’s economic reports included readings from the National Association of Home Builders on housing market conditions, housing starts and building permits issued. Consumer sentiment was reported along with weekly readings on mortgage rates and new jobless claims.
NAHB: Builder Confidence Rises in May, Housing Starts Increase in April
The National Association of Home Builders Housing Market Index posted its highest reading in seven months in May as headwinds facing home construction waned. Lower mortgage rates were a positive sign. May’s reading rose three points to 66; component readings also rose.
The index of builder confidence in current housing market conditions rose three points to … (0 comments)

home buying: What’s Ahead For Mortgage Rates This Week – May 13th, 2019 - 05/13/19 06:42 AM
Last week’s economic news included readings on job openings and inflation. Weekly reports on mortgage rates and first-time jobless claims were also released.
April Inflation Falls Short of Expectations
The Consumer Price Index for April fell by 0.10 percent to 0.30 percent. Analysts expected a reading of 0.40 percent, which hatched the March reading. The Core Consumer Price Index excludes volatile food and fuel sectors; core inflation grew by 0.10 percent in April, which matched the March reading and fell short of the expected growth rate of 0.20 percent.
The Federal Reserve has set an annual inflation rate of 2.00 percent as a benchmark … (0 comments)

home buying: The Benefits Of Developing A Multi-Use Property - 05/10/19 07:06 AM
Renovations that create a multi-use property or the development of a new multi-use project can be a very attractive investment especially in urban areas that are undergoing redevelopment. The concept of multi-use is to make the most of the site that is revitalized or developed.
Multi-Use Projects
Typical multi-use projects have a mixture of retail space, restaurants, offices, and/or living spaces. They may include parking areas. Large multi-use projects can also become destination locations that are core improvements, which create a momentum for the gentrification of an entire area. Waterfronts, boardwalks, and walking promenades are successful as multi-use projects in many cities.
The advantages … (0 comments)

home buying: Can I Qualify For A Mortgage Without W-2 Income? - 05/07/19 09:44 AM
It’s more common these days to have non-traditional income that doesn’t fall into the W-2 category. Many people work in what is referred to as the “gig economy,” where income might come from a variety of freelance sources.
Other times, people don’t have W-2 income because they are retired or have an independent source of wealth that generates interest income. Still other times, an individual may own their own business and take draws instead of a paycheck. In all these cases, it might seem impossible to qualify for a mortgage, since there’s no W-2 income. 
Lenders Are Understanding
Thankfully, many lenders understand when a … (1 comments)

home buying: What To Look For In A Real Estate Agent - 05/01/19 02:10 PM
You have lots of choices when it comes to choosing a real estate agent. Aside from deciding if you’d prefer to work with a man or woman, and what age range you’d like them to be, here are some tips to help ensure that you pick one that is best suited for your needs.
Signs In Their Bio
The first thing to do is read the bios of any real estate agents you’re considering. Bios tell a lot about an agent, including what certifications they hold and how long they’ve been an agent. Some bios even have some personal information such as charitable … (0 comments)

home buying: What’s Ahead For Mortgage Rates This Week – April 29th, 2019 - 04/29/19 06:23 AM
Last week’s economic reporting included readings on sales of new and pre-owned homes; weekly reports on mortgage rates and new jobless claims were also released along with a report on consumer sentiment.
Sales of New Homes Hit 16-Month High
The Commerce Department reported that deep discounts offered by home builders boosted sales of new single-family homes to 692,000 sales on a seasonally-adjusted annual basis.
March sales exceeded February’s reading by 4.50 percent and exceeded the expected sales pace of 656,000 sales. The average price of new single family homes fell to $302,700 in March; this was 9.70 percent lower year-over-year.
Real estate pros reported higher … (0 comments)

home buying: Finding ‘Hard Money’ Lenders Is Easier Than You Think - 04/23/19 04:14 PM
Are you the type of real estate investor that has an interest in a treasure hunt? A real estate investment strategy based on hard money is, at its core, a treasure hunt. There must be an underlying value, the “treasure,” for a hard money opportunity to exist.
Collateral For A Hard Money Loan Is Only The Property
Hard money loans rely only on the value of the real estate property for collateral. The credit history of the borrower is not important. Usually, the limit for a hard money loan is a 60% loan-to-value. The hard money loan must be in the first position, … (0 comments)

home buying: What’s Ahead For Mortgage Rates This Week – April 22nd, 2019 - 04/22/19 06:44 PM
Last week’s economic news included readings on home builder confidence in housing market conditions and Commerce Department reports on housing starts and building permits issued. Weekly readings on mortgage ratees and first-time jobless claims were also released.
NAHB Housing Market Index: Builder Confidence Rises One Point in April
Home Builder Confidence readings posted by the National Association of Home Builders held steady for April and rose one point overall. Component readings for the NAHB Housing Market Index were mixed; builder confidence in current housing market conditions rose one point to an index reading of 69, but builder confidence in housing market conditions in … (1 comments)

home buying: What’s Ahead For Mortgage Rates This Week – April 14th, 2019 - 04/15/19 04:42 PM
Last week’s economic readings included reports on inflation, mortgage rates, and first-time jobless claims. Monthly reporting on consumer sentiment was delayed.
Consumer Price Index: Inflation Rises in March
The Consumer Price Index rose 0.40 percent in March, which matched expectations and surpassed February’s month-to -month reading of 0.20 percent growth. The March reading showed the highest consumer price growth in 14 months; higher rents, fuel and food prices contributed to month-to-month price gains in March.
The Core CPI excludes volatile food and energy sectors and was unchanged in March although 0.20 percent growth was expected. February’s reading showed 0.10 percent growth. Inflation increased 1.90 … (0 comments)

home buying: FOMC Minutes Reveal Fed Policymakers U-Turn - 04/11/19 11:46 AM
Members of the Federal Reserve’s Federal Open Market Committee voted to hold the target range of the federal funds rate to its current range of 2.25 to 2.50 percent. The minutes of the most recent Committee meeting cited softening domestic and global economic conditions as reason for not raising the target federal funds range.
While labor markets remained strong, the minutes noted that household spending and business investment slowed in the first quarter of 2019. FOMC members expected Gross Domestic Product growth to slow as compared to its 2018 pace.
While current inflation and the national unemployment rate fell in line with the … (0 comments)

home buying: 4 Ways To Pay Off My Mortgage Faster - 04/09/19 05:38 PM
For most people, the mortgage payment is the biggest monthly expense. Whether you’re facing retirement or still working, it would be nice to be free of this debt. Although you probably can’t pay it off in one lump sum, it is possible to pay off your mortgage sooner than expected.
Here are four strategies to try.
1. Make Bi-Weekly Payments
You could shave eight years off a 30-year mortgage simply by breaking down your monthly payments into two payments instead of one. You’ll pay the same amount each month while the interest paid over the length of the loan is reduced. 
2. Make Principal-Only Payments
If … (7 comments)

home buying: What’s Ahead For Mortgage Rates This Week – April 8th, 2019 - 04/08/19 10:58 AM
Last week’s economic news included readings on construction spending and inflation; labor sector reports on the national unemployment rate, public and private sector employment were also released. Weekly readings on mortgage rates and new jobless claims were also released.
Construction Spending Rises, Retail Sales Slip
Construction spending expanded by one percent in February according to the Commerce Department spending was one percent higher month-to-month; analysts expected a negative reading of -0.10 percent. February saw a revised gain of 2.50 percent growth in construction spending.
Construction spending grew 1.10 percent year-over-year; by comparison, 2016 construction spending reached 10 percent year-over-year. High demand for homes and lower … (0 comments)

home buying: 11 Simple Ways To Save Money Toward The Purchase Of Your New Home - 04/04/19 12:53 PM
If you find it difficult to make ends meet, these tips will help you save money in ways that are easy to do and create substantial savings over time.
Get rid of stuff you do use or need by having a garage or yard sale or by putting things for sale on eBay or Craigslist.
Make Your Own Coffee
Do you really want to make that billionaire richer by buying coffee for $5+ a cup? Make your own gourmet coffee that costs around 50 cents per cup for the same thing.
Bring Your Own Lunch
Making your lunch the night before to take to work the … (0 comments)

home buying: 3 Pros And Cons Of Renting Or Owning A Home - 04/02/19 03:59 PM
Home ownership is highly valued in our culture. However, buying a home isn’t the best decision for everyone. Examine the differences between owning and renting your home to help you decide if now is the time to buy.
Effect On Flexibility
Renters enjoy more freedom than homeowners. After the leasing period ends, renters are free to walk away and find a new place to live. Homeowners, on the other hand, are at the mercy of the market. Depending on the conditions, owners might have a hard time selling their property quickly. It also takes a lot more paperwork to sell a home than … (0 comments)

home buying: What’s Ahead For Mortgage Rates This Week – April 1st, 2019 - 04/01/19 07:33 AM
Last week’s economic reports included readings from Case-Shiller on home price growth, Commerce Department readings on housing starts and building permits issued. The Conference Board issued its monthly reading on consumer confidence. Pending home sales and weekly reports on mortgage rates and first-time jobless claims were also released.
Case-Shiller Home Price Indices: Price Growth Slows in January
S&P Case-Shiller Indices reported the slowest rate of home price growth in six years. January readings suggested that home price growth slowed due to easing demand. Affordability concerns sidelined buyers; participation of first-time home buyers remained lower than average.
Case-Shiller’s 20-City Home Price Index charted its third … (1 comments)

home buying: Are Multi-Unit Properties the Right Move for You? - 03/27/19 12:08 PM
Real estate isn’t a one-size-fits-all pursuit. Buying and renting multi-unit properties is one of the ways investors build residual income while increasing their property portfolios. However, multi-unit rentals come with some unique challenges. Are you ready to manage a multi-unit rental property?
Ask yourself these questions to help you decide which path best fits your resources, goals, and interests.
Do You Plan To Live On The Property?
Living in one of your rental units offers a myriad of benefits. First, you get to keep a close eye on building conditions and the actions of your renters. Next, you’ll be able to respond quickly to … (1 comments)

home buying: What Causes Mortgage Interest Rates To Fluctuate? - 03/26/19 04:54 PM
The mortgage interest rate represents the cost of borrowing money to purchase a property. Mortgage interest rates are not fixed; that is, they fluctuate from one period of time to the next.
Many different factors play into what your mortgage interest rate will finally turn out to be. Some of these factors have to deal with the economy and government decisions. Other factors have to do with your personal financial situation.
Finally, mortgage interest rates can differ between lending institutions, which is why you may get different mortgage interest rate quotes from different places.
Economic Factors That Cause Mortgage Interest Rates To Fluctuate
Mortgage interest … (1 comments)

home buying: What’s Ahead For Mortgage Rates This Week – March 25th, 2019 - 03/25/19 01:27 PM
Last week’s economic news included readings from the National Association of Home Builders, Federal Reserve Federal Open Market Committee and a press conference by Fed Chair Jerome Powell.
Sales of pre-owned homes in February were reported along with weekly readings on mortgage rates and new jobless claims.
NAHB: Builder Confidence Unchanged Despite Headwinds
Home builders remained confident about housing market conditions in March. The NAHB Housing Market Index posted a reading of 62, which matched February’s reading and fell one point short of expectations. NAHB Index readings above 50 represent a positive outlook on housing market conditions.
Home builders continued to face obstacles including high … (0 comments)

home buying: 4 Ways To Get Your Home Loan Closed Faster - 03/21/19 01:27 PM
You’ve finally found the perfect home for your family. Now the only thing standing between you and domestic bliss is the loan process. Use these techniques to shorten the amount of time between placing your bid and getting the final approval on your new home mortgage.
Perfect Your Credit Rating
Your credit score is a measure of your financial responsibility. Lenders look closely at your creditworthiness in their attempt to decide your loan’s risk. Before you start shopping, take some time to clean up your credit history.
Some credit habits that help shorten your loan approval period include:
At least one year of on-time … (0 comments)

home buying: 3 Questions to Ask Before You Buy Your First Home - 03/19/19 02:38 PM
Hunting for your new home can be a confusing process. There are countless factors you need to take into account to ensure your new location fits your family’s lifestyle and preferences. In their excitement, first-time home buyers can easily overlook some essential points about their potential property.
When you’re searching for your new residence, ask these questions to get exactly what you’re looking for.
Am I Financially Ready For A New Home Purchase?
It takes more than money to find the right home. Your credit rating is an important factor in your ability to secure enough funding to finance your dream. Check out your … (0 comments)

Joe Gonzalez, NMLS# 134407 (610) 739-6563 (GMH Mortgage Services LLC) Rainmaker large

Joe Gonzalez

NMLS# 134407 (610) 739-6563

King of Prussia, PA

More about me…

GMH Mortgage Services LLC

Address: 625 W. Ridge Pike, Building C, Suite 100, Conshohocken, PA, 19428

Office: 610.355.8039

Mobile: 610.739.6563

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