summit lender: Strong Economy Drives Up High End Sales - 11/24/14 04:03 AM
Strong Economy Drives Up High End Sales
Realtors say the red hot stock market is driving high-end home sales, but the heat is also being stoked by something far more fundamental. There are simply more high-end homes for sale. Dallas, Atlanta, Phoenix and Nashville have at least two times more homes for sale in the top tier than the bottom tier, according to a new report from Zillow. And they are selling.
For more on this topic as well as current Mortgage Rate Information, click here.
Strong Economy Drives Up High End Sales
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summit lender: Increase in New Home Sales - 09/30/14 08:20 AM
 
Increase in New Home Sales  
Sales of new U.S. single-family homes surged in August and hit their highest level in more than six years, offering confirmation that the housing recovery remains on course.
The Commerce Department said on Wednesday sales jumped 18.0 percent to a seasonally adjusted annual rate of 504,000 units. That was the highest level since May 2008 and marked the second straight month of gains.
Read the full article and find out how mortgage rates are trending this week by clicking here.
Contact us today to automatically receive our weekly Realtor Snapshot.  You will be added to our … (0 comments)

summit lender: Pending Home Sales Stronger Than Expected - 09/02/14 07:17 AM
Pending Home Sales Stronger Than Expected
 
The National Association of Realtors (NAR) reported that July Pending Home Sales increased by 3.3%, the consensus estimates were projecting a much smaller gain of only 0.6%. Pending Home Sales are homes that have a sales contract in place and are in the process of closing but have not yet closed.
They have now risen four out of the last five months.
Read more about this and see the projected rate summary for this week by clicking here. 

Pending Home Sales Stronger Than Expected
 
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summit lender: Rates at a Glance for This Week - 08/18/14 05:54 AM
Rates at a Glance for This Week
Each week, we bring you an inside look at how mortgage rates are performing.  If you’re thinking of purchasing or refinancing, you can use this information to help you decide if now is the right time for you.  If you’re still not sure and need some guidance, give us a call, we are happy to help!
 
Find out how rates are performing this week by clicking the photo below:

Rates at a Glance for This Week
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summit lender: Rates Expected to Remain Neutral - 07/21/14 06:55 AM
Rates expected to remain neutral this week according to Sigma Research.  You can find out more by accessing this week's Realtor Snapshot here.  In addition, if you have ever wondered what causes rates to move, you can also find out by reading this week's Realtor Snapshot. Click below for more info:

Be sure to share this information with anyone you know who has been thinking of purchasing or refinancing, and as always - WE APPRECIATE YOU and YOUR REFERRALS!!   Have a wonderful week!
Rates Expected to Remain Neutral
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summit lender: This Week's Mortgage Rate Summary - 07/14/14 02:55 AM
This Week’s Mortgage Rate Summary
Rates are expected to remain neutral this week in the mortgage industry.  You can find out more information by clicking here and reading our Weekly Rate Insider.
Our goal is to inform our clients and help you to make the right decision when considering a home purchase or refinance.  Give us a call and we will help you decide if now is the right time to lock your loan!
This Week’s Mortgage Rate Summary
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summit lender: Weekly Rate Insider - 06/23/14 11:26 AM
Weekly Rate Insider
According to Sigma Research there will be a lot of economic data this week that will likely have a big effect on the bond market, and overseas issues are expected to play a strong role as well. Volatility will be high as the markets and mortgage pricing are likely to move on any large deviations of expected economic news.  
Click the photo below to see this week’s Weekly Rate Insider and see what is currently trending in regards to mortgage rates.

If you have any questions or if you are an agent needing to pre-qualify a client, give … (0 comments)

summit lender: This Week’s Mortgage Rates - 06/16/14 03:20 AM
This Week’s Mortgage Rates
 
Sigma Research says there will be lots of economic data this week that is likely to have a great effect on the bond market, and that overseas issues will play a strong role.   That being said, the forecast for this week shows mortgage rates will remain neutral.
You can find out more by clicking the photo below:

 
If you are a real estate professional, please share this information with your clients and contact us if you have anyone that needs to be pre-qualified.
 
This Week’s Mortgage Rates
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summit lender: Household Net Worth Creeps to Record High - 06/09/14 04:30 AM
U.S. household net worth nudged up 2 percent to a record high $81.8 trillion in the first quarter as the stock market continued its upward climb and property values rose, according to data from the Federal Reserve.
Read the rest of the article and find out what is going on this week with mortgage rates by clicking the photo below:

(Note: The Realtor Snapshot page is updated weekly, so if it is not showing the information you are looking for, please contact us and we’ll get you what you need!)
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summit lender: E-Mortgages Will Speed Up Closings, Cut Costs - 06/02/14 03:18 AM
E-Mortgages Will Speed Up Closings, Cut Costs
An electronic mortgage process could cut 30 days off of the average 52 days it takes to close a loan, according to a team developed by Fannie Mae to study e-mortgages.  What's more, going paperless could save the mortgage industry an average of about $1,100 per mortgage-or about $1 billion a year.
To read the full article and find out what is currently going on with mortgage rates, click the photo below.

If you or one of your clients needs to be pre-approved, please give us a call today.
E-Mortgages Will Speed Up Closings, … (0 comments)

summit lender: Can you use overtime income toward a home loan? - 05/27/14 07:14 AM
Can you use overtime income toward a home loan?
I was recently working with pre-qualifying a client and as we were speaking about his income for the last couple of years it was apparent that his income for last year was much higher than the prior year.  I asked him why this was and he proceeded to tell me that his employer started paying him overtime last year.
Pop Quiz:  Can a lender use this clients' overtime income earned last year to qualify?
Watch this week's Military Moment for the answer and comment below to let us know your thoughts!  Just click … (0 comments)

summit lender: FHA borrowers may be able to lower their MIP - 05/27/14 06:05 AM
FHA borrowers may be able to lower their mortgage insurance premiums if they agree to undergo housing counseling.  To find out more as well as current mortgage rate information, please check out our Realtor Snapshot page by clicking the photo below.

 
(Note:  The Realtor Snapshot page is updated weekly, so if it is not showing the information you are looking for, please contact us and we'll get you what you need!)
If you are a consumer and have questions about this, please give us a call and we will help you out.  If you are a Realtor and have … (2 comments)

summit lender: Thank You to Our VA Borrowers For Being So Awesome! - 05/20/14 07:54 AM
At Summit Lending, we think it's important to thank our nation's military personnel for their service to our country and we have found different ways to express our gratitude.  This week, however, we would like to use our time on Military Moment to thank our VA borrowers for another reason...for being such AMAZING clients!  You are always so easy to work with and we appreciate you!  Watch this week's episode of Military Moment for more...

Thank you once again to all of our VA borrowers and to all of our nation's military.
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summit lender: Buying Beats Renting After Two Years - 05/05/14 07:07 AM
Buying Beats Renting After Two Years
"Rents keep rising, and mortgage rates remain very low, which is helping to skew the rent vs. buy decision toward buying for those who can afford it," says Stan Humphries, chief economist for Zillow.com, the housing and mortgage firm behind a rent-versus-own study.
To find out more as well as current mortgage rate information, please check out our Realtor Snapshot page by clicking the photo.

(Note: this page is updated weekly, so if it is not displaying the information you are looking for, contact us directly and we'll get you what you need.)
Please share … (0 comments)

summit lender: Pending & Existing Home Sales on the Rise - 04/28/14 03:12 AM
Pending & Existing Home Sales on the Rise
US home buyers signed more contracts this March, as weather in much of the country improved and as more listings came on the market.  This is a good sign for our national economy as we move forward into the Spring season.  You can find out  more about this as well as information on current mortgage rates by visiting my Realtor Snapshot page.  Just click the photo below.

(Please note the Realtor Snapshot page is updated weekly, so if it is not displaying the information you are looking for, please let us know and … (0 comments)

summit lender: VA Loan on New Homes - 04/22/14 05:10 AM
VA Loan on New Homes
Right now, I am working with a client that is using his VA loan to purchase a newly constructed home.  I thought that this would be a good time to discuss this topic a bit.  The Veteran's Administration makes the builder complete certain forms on ALL new developments, not just on condos.  You can click the video below to watch this week's Military Moment for a short video on this topic, and please give us a call if you have any questions.

Thank you for watching this week's Military Moment episode, VA Loan on New Homes, … (0 comments)

summit lender: U.S. Housing Starts Climb in March - 04/21/14 09:34 AM
Groundbreaking for single-family homes, which makes up the largest segment of the market, surged to 6% last month on a national level.  To read more about this, visit our Realtor Snapshot for this week.  Here, you will also find information on current mortgage rates and a mortgage rate forecast.  Click below to be redirected to our Realtor Snapshot page.

(The Realtor Snapshot page is updated weekly, so if it is not displaying the information you are looking for please contact us and we'll get you what you need.)
With all of the new homes being built, it will make it … (0 comments)

summit lender: Foreclosure Rates Fall To Lowest Level Since 2007 - 04/14/14 02:35 AM
Foreclosure rates fall to lowest level since 2007, giving us yet another sign that the Spring housing market will be a strong one.  Find out more on this topic as well as what is going on currently with mortgage rates in this week's Realtor Snapshot.  (Click the photo below for access.)

(The Realtor Snapshot page is updated weekly, so if it is not displaying the information you are looking for let us know and we'll get you what you need.)
Whether you are an agent who needs to pre-qualify a client, or if you are a home buyer in need … (0 comments)

summit lender: Strong Spring Ahead in Real Estate - 04/07/14 03:35 AM
Visits from desktop computers to real estate sites rose dramatically last month, signaling a strong spring ahead in real estate.  So, what does this mean to you?  Well, if you are looking to purchase or sell a home, now is the time to do it! If you are a real estate agent, now is the time to BE PREPARED for a busy season ahead!  Our Realtor Snapshot page can help you to be prepared; use it to let your clients know how rates are looking, what the projected rate forecast looks like and of course you'll want to tell them that … (2 comments)

summit lender: Military Mortgage Discount - 04/01/14 09:12 AM
Are you a military personnel wondering how you can get a military mortgage discount?  At Summit Lending, we have partnered with Homes for Heroes to give you just that.  If you are current or retired military, I would like to thank you for your service to our country!  Our affiliation with Homes for Heroes is our way of showing our gratitude for all the sacrifices you have made and continue to make.  Having family that serve our country in the military, I know that what you do requires a ton of hard work and dedication and that is something that should … (0 comments)