joe gonzalez: Case-Shiller: Home Prices Higher in July, Home Prices May Have Peaked
- 09/27/17 10:49 AM
Case-Shiller reported higher sales of new homes for July; the national reading for new home sales increased by 0.10 percent to a seasonally-adjusted annual rate of 5.90 percent. The 20-City Home Price Index rose by 0.20 percent to 5.80 percent on a seasonally adjusted annual basis.
Seattle Washington held the top spot in the 20-City Index with a growth of 13.50 percent year-over-year. Seattle home prices are growing faster than home prices in Portland Oregon, which reported a year-over-home price growth rate of 7,60 percent. Dallas, Texas lost its third-place standing in the 20-City Index to Las Vegas, Nevada, which reported 7.40 … (1 comments)
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joe gonzalez: What’s Ahead For Mortgage Rates This Week – June 5, 2017
- 06/05/17 07:38 AM
Last week’s economic releases included readings on inflation, core inflation pending home sales and multiple reports from the labor sector. Weekly readings on mortgage rates and new jobless claims were also released. Pending home sales were lower and weekly jobless claims rose, which illustrates continued volatility in the economic sector.
Inflation rose 0.40 percent in April, which matched projections and exceeded April’s reading of 0.30 percent. Core inflation, which excludes volatile food and energy sectors, grew by 0.20 percent and exceeded expectations of 0.10 percent growth based on a negative reading of -0.20 percent in March. The Federal Reserve has set an … (0 comments)
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joe gonzalez: What’s Ahead For Mortgage Rates This Week – February 27, 2017
- 02/27/17 06:14 AM
Last week’s readings on new and existing home sales provided further evidence of strengthening housing markets. Both categories of home sales exceeded December’s readings. Consumer sentiment was lower in February than for January and average rates were mixed with fixed rates higher and the rate for 5/1 adjustable rate mortgages lower. Consumer sentiment lower in February.
New and Previously–owned Home Sales Higher in January
Home sales volume rose in January regardless of obstacles including higher mortgage rates and rising home prices. The National Association of Realtors® reported more sales of pre-owned homes in January. 5.69 million homes were sold on a seasonally-adjusted annual … (1 comments)
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joe gonzalez: 3 Reasons Why Mortgage Pre-approval Should Be Your Very First Step
- 02/23/17 01:20 PM
There are so many details involved in the mortgage process that you may not be aware of what pre-approval is if you’ve just entered the market. However, pre-approval assesses your ability to make monthly mortgage payments and can be an important first step in the home-buying process. If you’re currently contemplating a home purchase, here’s why you may want to consider pre-approval first.
Improved Agent Attention
It may be a lesser-known fact, but it’s often the case that many real estate agents will not spend the time or put significant effort into a homebuyer that has not been pre-approved for a mortgage. While … (2 comments)
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joe gonzalez: What’s Ahead For Mortgage Rates This Week – February 21, 2017
- 02/21/17 07:03 AM
Last week’s economic releases included readings on housing starts, building permits issued and the National Association of Home Builders/ Wells Fargo Housing Market Index. Fed Chair Janet Yellen testified before the House Finance Committee and consumer spending and core consumer spending reports were also released. Mortgage rates and new jobless claims were little changed week-to-week.
Home Builder Sentiment Slows as Industry Faces Obstacles
NAHB reported lower reading for its January Housing Market Index. January’s index reading was two points lower at 65 than December’s reading. Builders surveyed for the index cited ongoing shortages of buildable lots and labor, they also said that housing … (2 comments)
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joe gonzalez: 4 Ways Using a Real Estate Professional Will Save You a Lot of Money
- 02/17/17 06:30 AM
It may seem better to go it alone when it comes to acquiring a mortgage, but there are many benefits associated with using a real estate professional that can make finding your dream home a lot easier. If you’re currently getting prepared to hit the market and are weighing your options, here are some reasons that a professional who knows the neighborhood will save you money.
Strong Market Knowledge
Many homebuyers can take a look at the MLS listings to find the price of properties selling in the area, but a mortgage professional will know the market without having to look at a … (1 comments)
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joe gonzalez: 3 Things You Should Never Say When Negotiating to Buy a Home
- 02/14/17 07:52 AM
The prospect of finding the home you’ve always dreamed of can be such an exciting prospect that it’s easy to forget all about the process of negotiating. However, it’s important to keep a few things to yourself when it comes to the art of making the deal. If you’re currently searching for the right place and are preparing to sign on the dotted line, here are a few phrases it’s best to avoid.
Declaring It Your Dream Home
There’s nothing wrong with finding the ideal home and getting enthusiastic about the prospect of owning it, but it’s very important not to say too … (1 comments)
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joe gonzalez: What’s Ahead For Mortgage Rates This Week – February 13, 2017
- 02/13/17 06:14 AM
Last week’s scheduled economic readings were limited and included new jobless claims and Freddie Mac’s mortgage rates survey. In other news, all types of mortgage applications rose by 2.30 percent this week as compared to the prior week.
Mortgage Rates Lower, Home Loan Applications Rise
Freddie Mac reported lower mortgage rates for fixed rate and 5/1 adjustable mortgages; the average rate for 30-year fixed rate mortgages dropped two basis points to 4.17 percent. Average rates for 15-year mortgages also dropped two basis points to 3.39 percent. 5/1 adjustable mortgage rates averaged 3.21 percent, which was also two basis points lower than the previous … (1 comments)
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joe gonzalez: 5 Home Maintenance Chores You Can’t Forget to Take Care of This Winter
- 02/13/17 06:04 AM
Winter may be a time for nesting until the cold weather abates, but there are a number of important tasks that a homeowner should be sure to do during the winter months. If you’re readying for the slow season or wondering what you might have forgotten, here are some things you’ll want to check off your to-do list.
A New Coat Of Paint
Getting out the paint may seem like a sizeable task, but any peeling paint is going to be adversely affected by the cooler temperatures of fall and winter. While you may want to hold off if it’s already cold, it … (1 comments)
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joe gonzalez: Worried About Future Mortgage Rate Increases? ‘Stress Test’ Finances
- 02/10/17 06:46 AM
When it comes to real estate, there are always going to be upswings in the market that will have an impact on your mortgage payment and overall financial health. However, with a fluctuating market here to stay, you may be wondering how you can guard your biggest investment and your finances against rate increases. If you’re concerned about rates on the rise, here are a few tips to test out you’re fiscal well-being.
Calculate Your Debt-To-Income Ratio
It’s beneficial to determine your DTI ratio prior to purchasing a home, but since debt and housing costs are always fluctuating, calculating this number again can … (1 comments)
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joe gonzalez: The 2017 Mortgage Rate Outlook: Here’s What the Experts Are Saying
- 02/09/17 12:41 PM
The post-election period is often one of uncertainty, and the time since the 2016 election has been no different with regards to market force and the financial world. With a new administration taking office, there are many questions regarding how Donald Trump’s presidency will impact the market and your mortgage. If you’re wondering what the predictions are for the coming year, here are a few things the experts are considering.
An Increase In Rates
Due to an expected hike in rates by the Federal Reserve, it’s unlikely that potential homebuyers will be able to get the low interest rates of previous years. While … (0 comments)
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joe gonzalez: Buying Real Estate vs. Stocks: Why a Home Should Be Your Priority
- 02/08/17 10:39 AM
Once you’re done with debt and you’ve started to save, it’s commonly the case that you’ll start hearing about the risks and rewards of investing in stocks or real estate. Unfortunately, it can be difficult for many people to know what type of investment is going to work better for them down the road. If you’re currently considering what you should put your money into, here are some reasons you may want to turn to real estate.
It’s Something You Can See
While investing in the stock market will give you the ability to invest as little or as much as you want, … (1 comments)
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joe gonzalez: Mortgage Rate News for Week Of December 23rd, 2013
- 12/22/13 10:13 PM
Mortgage Rate News for Week Of December 23rd, 2013
According to December's NAHB/Wells Fargo Housing Market Index, home builder confidence rose by four points to a reading of 58; this surpassed the consensus of 56 and November's reading of 56.
November Housing Starts were released Wednesday and also exceeded expectations and the prior month's reading. 1.09 million housing starts were reported for November against expectations of 963,000 and October's reading of 889,000 housing starts.
Building permits issued in November came in at 1.01 million and fell short of October's reading of 1.04 million permits issued. November's reading exceeded expectations of … (0 comments)
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joe gonzalez: Fed Meeting Expose Mortgage Rates As Remaining Historically Low
- 09/18/13 11:11 PM
Fed Meeting Expose Mortgage Rates As Remaining Historically Low
The Federal Open Market Committee of the Federal Reserve decided not to reduce the Fed’s current quantitative easing program of purchasing $85 billion monthly in Treasury securities and mortgage-backed securities.
Going against wide expectations that the Fed would reduce the QE purchases, Fed Chairman Ben Bernanke said that current economic conditions aren’t strong enough to warrant tapering.
The Federal Reserve May Reduce Monthly Securities Purchases
The FOMC, which sets monetary policy for the Federal Reserve has hinted that it might soon reduce the monthly securities purchases, but has also stated that … (0 comments)
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joe gonzalez: Home Builder Confidence Has Far Outpaced Actual Home Construction
- 09/17/13 11:57 PM
Home Builder Confidence Has Far Outpaced Actual Home Construction
Home builder confidence was unchanged for September according to the National Association of Home Builders/Wells Fargo Housing Market Index HMI released Tuesday. After four months of rising confidence, September’s HMI reading came in at 58, which was not far from expectations of a reading of 59.
August’s reading of 58 was revised from 59. Readings over 50 indicate that more builders view housing market conditions as being positive than negative.
Housing Market Index Readings Rise
Components of September’s HMI include readings for home builder views of current market conditions, which maintained … (0 comments)
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joe gonzalez: Don’t Overlook These Important Factors When Buying A New Home
- 09/17/13 12:52 AM
Don’t Overlook These Important Factors When Buying A New Home
Most of the time when buying a property, there are a few obvious factors that you will consider – such as the location, the number of bedrooms, the accessibility to schools or your workplace, the need for repairs and any interior features. However, there are a few things that might not have crossed your mind during your house hunting but are still quite important.
Water Quality
Most home buyers don’t even think about the water quality at the property until they get to the inspection stage. However, if you find … (1 comments)
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joe gonzalez: Fed Meeting Statement Reveals Good News For Real Estate
- 03/21/13 12:35 AM
The Federal Reserve's statement after yesterday's Federal Open Market Committee (FOMC) meeting left no doubt as to the Fed's dual commitment to keeping long term interest rates down and encouraging economic growth.
No changes to the Fed's current bond-buying program were made during today's FOMC meeting.
The Fed's monthly purchase of $85 billion in bonds and MBS works by boosting bond prices, which typically helps with keeping mortgage rates lower.
The Fed reaffirmed its position that it will not withdraw or reduce monetary easing until the unemployment rate is substantially lower.
Unemployment Rate Improving Nationally
Fed predictions for the national unemployment … (1 comments)
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joe gonzalez: What's Ahead For Mortgage Rates This Week: March 18th, 2013
- 03/18/13 05:58 AM
What's Ahead For Mortgage Rates This Week: March 18th, 2013
Last week's positive employment reports were good news for the economy, which typically causes mortgage rates to rise, but mortgage rates ended the week lower.
As of Thursday, Freddie Mac reports that the average mortgage rate for a 30-year fixed rate mortgage was 3.63 percent with borrowers paying their closing costs and 0.8 percent in discount points.
The average mortgage rate for a 15 year loan was 2.79 percent with borrowers paying their own closing costs and 0.8 percent in discount points.
Strong Retail Sales Show Consumer Confidence Improving
In other … (0 comments)
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joe gonzalez: My 28 Year & Counting Family Tradition - Salmon Fishing
- 11/02/11 12:45 AM
My 28 Year & Counting Family Tradition - Salmon Fishing
The year was 1983 & I was 8 years old. My father decided he was taking me to Pulaski, NY to go Salmon Fishing. Twenty eight years later, we haven’t missed a year. If you’re looking for a manly man’s fishing trip that’s not too far off, this is a great place to start.
WARNING:
1. These fish are strong! I DO NOT recommend this for a beginner’s trip.2. River currents can be strong, the water deep & rocks slippery. Don’t be a “bruto” – Spanish word for a moron … (0 comments)
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joe gonzalez: Why Rent? Fixed FHA Mortgages at only 3.75% (5.092 APR)! King of Prussia, Plymouth Meeting, Phoenixville
- 10/31/11 03:33 AM
Why Rent? Fixed FHA Mortgages at only 3.75% (5.092 APR)! King of Prussia, Plymouth Meeting, Phoenixville
Why haven’t you bought a home yet? Is a 20% down payment keeping you from buying a home? Have you rented for a long time & just aren’t sure? Are you a long time renter in the market to buy? Living in the King of Prussia, Plymouth Meeting, Phoenixville or the surrounding areas? Well stop renting already! FHA could be the answer you’re looking for.
Okay let’s use some real world #’s to help you appreciate what FHA can do for you.
How much are … (0 comments)
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Case-Shiller reported higher sales of new homes for July; the national reading for new home sales increased by 0.10 percent to a seasonally-adjusted annual rate of 5.90 percent. The 20-City Home Price Index rose by 0.20 percent to 5.80 percent on a seasonally adjusted annual basis.
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