mortgage: Yes, Credit Is Becoming More Widely Available
- 07/22/14 03:29 AM
Yes, Credit Is Becoming More Widely Available Tight credit is frequent lament. In a Redfin survey , 16% of respondents stated that difficulty in obtaining financing was a challenge in the second quarter of 2014 compared to 8% in the first quarter. This might be the perception, but the reality is that credit is gradually becoming easier to obtain, and that's been the case for the past two years. The Mortgage Bankers Association Mortgage Credit Availability Index continues to creep higher. In June, the index posted at 115.8 compared to 115.1 in May, which was better than the 113.8 in April. The index was set … (6 comments)
mortgage: Why the Federal Reserve Matters
- 11/10/13 10:55 PM
Thanks to Jessica Regan with GMH Mortgage Services for allowing me to share this Market Update with you. After I read this I thought about how much I know about the Federal Reserve and realized it wasn't much. This was good information and I trust you will find it interesting and useful.
Why the Federal Reserve Matters
We spend a good deal of time talking about the Federal Reserve, and we do so for a good reason: The Federal Reserve is the most important economic planner in the country. The Fed is charged with promoting employment, stabilizing prices, and regulating the financial … (3 comments)
mortgage: What's the Stock Market Got to Do With It?
- 03/11/13 05:07 AM
I got this email from Jessica Regan with GMH and she said I could share it with you. As real estate agents we are always looking for the "spark" that help us move our buyers get off the fence. I never really thought abuot using the stock market as a reason, but you can see that the stock market is a good cause for buyers to no longer procastinate! … (12 comments)
mortgage: The ABC's of Credit Scores
- 10/06/12 01:07 AM
Credit plays a role in everything from buying a home, to signing up for cell phone service or utilities, to getting car insurance. A credit score is a snapshot taken by the three leading credit bureaus, TransUnion, Equifax and Experian, that allows lenders to determine whether or not you will be extended credit, the amount of credit and even the terms (interest rate, loan amount, repayment schedule). What is a credit score and how is it calculated? A credit score is a number between 300 and 850 that is used to predict how likely you are to pay your bills. … (11 comments)
mortgage: Are Mortgage Currently Low Mortgage Rates Sustainable?
- 08/26/12 05:42 AM
It certainly has been nice to have the interest rates so low for so long. . . even dipping to never seen before (in my lifetime) low rates!! I ask the different Central Pennsylvania, Harrisburg area lenders that I work with how long they think the rates, albeit starting to creek up, will still remain low. I ask just in case they have any inside information as a lender that they can share with me. Of course none of them really do have the inside scoop. I recieved this email from one of the great Camp Hill lenders that Joy Daniels Real Estate Group often consults … (5 comments)
I’m not an advocate of buying before selling in today’s market unless you understand and are comfortable with the risks involved, but if you insist on going this route, according to Rich Hirsh, from Mortgage Masters, here are Fannie’s guidelines:
If you are applying for a conventional loan, Fannie Mae requires that you either have 30 percent equity in your CURRENT residence OR 6 months cash reserves for BOTH homes.
Yes, Credit Is Becoming More Widely Available
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