The FOMC Meeting and Mortgage Rates:
Today was day one of the two day FOMC meeting (aka the Fed); tomorrow they announce their rate decision and their views on the economy. There is little to no expectation they are going to raise and most analyst are more focused on what they have to say about the economy. For more on the Fed meeting and the rest of today's homeowners news please be sure to visit koloans.com.
Mortgage terms have improved the last two days however that could change over the next few days if something unexpected happens.
FHA Home Modification Program:
Thousands of people have been helped over the years with modification programs however many more still need help. At times the modification process is too much and too difficult for some families that desperately need the help. Moving forward the industry and the government should do more to make the process more accessible to those that need it.
Home prices are increasing according to the most recent CaseShiller report however the rate of increase is slowing. This is not surprising since sales are slowing and inventory is growing. With mortgage rates near their one year low we may see this reverse course with the first 2019 report.
Questions You Should Ask When Getting A Mortgage:
Asking the right questions when getting a new mortgage can save you thousands of dollars. We recently updated our website and covered 10 important questions you should ask when getting a new mortgage. We also discuss the average mortgage payment in California and how to chose between a 30 year fixed rate mortgage and a 15 year fixed rate mortgage.
JB Mortgage Capital, Inc.:
If you are in the market to purchase a home or you're considering a refinance please be sure to contact me directly at 1-800-550-5538 or visit www.koloans.com and request a quote on one of our easy to use contact forms.