mortgage: Home Buying A Better Deal Than Renting In 75% of Markets Surveyed - 08/31/12 06:09 AM
To buy or not to buy? That is the question. At least, that's the question for many Americans considering home ownership.
According to a recent evaluation by Zillow.com, buying a home is a better deal in almost every major U.S. housing market. In more than 75 percent of the 200 metros surveyed, homeowners would reach a "breakeven point" (where owning the home would be more financially beneficial than renting) in three years or less.
This analysis was the first of its kind by Zillow, in which all home ownership costs, including down payments, closing costs, mortgage payments, property taxes, utilities and maintenance costs, … (0 comments)

mortgage: How Many Homeowners are Still Underwater? - 07/10/12 02:18 AM
While the rising home prices are a good sign for a recovering economy, there are still many homeowners underwater.
According to the Zillow Negative Equity Report, 31.4% of borrowers this quarter owe more on their home than it is worth, a statistic that is unprecedented.
The Zillow Negative Equity Report takes mortgage data from leading credit and information management firms to create their statistics. Some things that are included in the report are negative equity, loan-to-value ratios, and delinquency rates.
Negative equity is measured by estimating the value of a home matched to all outstanding mortgage debt and lines of credit associated … (1 comments)

mortgage: Mortgage Applications Fell Slightly Last Week - 03/12/12 05:18 AM
Mortgage application activity declined slightly in the week ending March 2, despite home purchases picking up,an industry group said recently.
The MBA's seasonally adjusted index of refinancing applications was down 2.0 percent that week; however, loan requests for home purchases rose 2.1 percent.
According to the MBA, the 1.2 percent drop in mortgage application activity is due to a slowing demand for refinancing, which is included in the industry group's calculations. Low interest rates could also be attracting new buyers to the market, as 30 year fixed rate mortgages averaged 4.06 percent that same week.
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Below are last week's … (0 comments)

mortgage: Mortgage Rates Fall Again to Record Lows - 12/22/11 04:40 AM
30 year and 15 year fixed mortgage rate averages fell to record lows according to Freddie Mac's market survey which came out earlier this morning. The 30 year average came in at 3.91% with 0.7 points. This was down 0.03% from last week's all-time low. The 15 year fixed rate average tied last week's number at 3.21% with 0.8 points. Last year at this same period the 30 year average was 4.87% and the 15 year average was 4.15%. The survey also highlighted the 5/1 treasury indexed ARM average at 2.85% with 0.6 points.
Freddie Mac's Chief economist, Frank Nothaft noted … (0 comments)

mortgage: Get Ready for the Harvest Hustle 5k Run on October 1st! - 09/15/11 01:58 AM
AFR Mortgage is pleased to help sponsor of the Mendham H.S.A Harvest Hustle 5K Run on October 1st, 2011. This event is a celebration of health and fitness to Honor the Memory of Sergeant Richard Morales. Sergeant Morales worked with and looked out for Mendham's children and served as the school district's Drug Abuse Resistance Education officer for nearly 20 years. The race begins at 9:00 (kids run at 8:00) at Mendham Borough Park (Mountain and Park Avenues). The race weaves its way through historic Mendham Borough and it's a USATF sactioned run with electronic timing. Online Registration and Race Results … (0 comments)

mortgage: Mortgage Rates Drop for 4th Consecutive Week - 05/12/11 07:29 AM
Freddie Mac released their weekly mortgage survey this morning which indicated the mortgage interest rates fell for the fourth week in a row. According to the report, mortgage rates are now at their lowest levels in 2011. The 30 year fixed mortgage rate average fell from 4.71% down to 4.63% with .7 points. Last year, at this same time, 30 year rates were hovering closer to 4.93%. The survey also found that 15 year fixed rates drifted down to 3.82% with .7 points. This represented a 0.07% drop from last week. Adjustable mortgage rates improved as well with 5 year tresury … (0 comments)

 
Shaun Hamman (American Financial Resources)

Shaun Hamman

Parsippany, NJ

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American Financial Resources

Address: 9 Sylvan Way, Parsippany, NJ, 07054

Office: (800) 316-9508

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