Friday, September 27, 2013

Mortgage Rates Go Lower

Mortgage Rates Decline: Mortgage rates went lower yesterday as reports indicate a stay of the lowest levels in three months.  This is the 12th business day in a row where rates have declined. 

For homebuyers and those seeking to refinance, mortgage rates have been positively impacted following the Federal Reserve's decision last week to steady the pace of its monthly bond purchases. 

Steadily lowering rates tend to spark interest in home buying and home refinancing. Mortgage loan websites are seeing an upsurge in the use of home loan applications for both products. 

Whether this activity will spur on a refinance wave has yet to be seen as new lending policies to protect the consumer from  financially incompatible products and exorbitant fees is in place and has been in force across the board for some time.  Still consumers should closely examine all loan products suggested and get a second and third professional opinion about what offers are best for them.

Thursday, September 26, 2013

Low Mortgage Rate Streak Continues

The low mortgage rate streak continues. Mortgage rates continue to fall contributing to a new 3-Month low. Marking the 11th straight day where rates have either not risen or dropped to lower levels. Conforming, 30 yr Fixed rates are at 4.375% as most lenders respond in the form of lower closing costs or higher lender credit. 

Refinance Wave?

Many wonder if this low streak will signal a new refinancing wave like the one seen a decade ago. Only time can tell. In the mean time homeowners and potential home buyers do well to get their finances in order to take advantage of the savings when buying or refinancing your home loan. 

Refinancial Tip:
As online refinancing activity increases homeowners may wish to catch the refinancing wave craze but it is recommended that each household weigh the costs in the long term and carefully discuss the matter with a financial consultant when mortgage rates are low.

Wednesday, September 25, 2013

10th Day Mortgage Rates Drop - Good Time To Refinance?

Todays mortgage rate levels are consistently low as rates continue to decrease partly due to the Feds stance to stick to the policy to stimulate the economy. Since the Feds decision home financing has been positively impacted. Resales increase and refinancing appears to be making a marginal comeback. Lenders have responded by offering lower rates on varied loan products.

Good Time to Refinance?

Is this a good time to refinance your home loan? Homeowners are eager to lower their rates or jump from an adjustable loan to a fixed loan while others are opting for cash out deals at low rate levels.

Refinancing Wave Craze 

Loan consultants encourage consumers to consider home refinancing as well as equity loan options according to ones personal financial profile. As online refinancing activity increases homeowners may wish to catch the refinancing wave craze but it is recommended that each household weigh the costs in the long term and carefully discuss the matter with a financial consultant when mortgage rates are low. Refinancial News Update

Tuesday, September 24, 2013

Another Dip For Mortgage Rates

Mortgage rates dip lower, descending to the lowest levels over  the past 6-week lows. Lenders are responding by adjusting rates as low as 4.375% for a number of products. Is this a good time to buy a home, adjust mortgage rates or refinance? Loan consultants say low rates should at least trigger interest in examining ones options. Consumers are looking closely at loan products offered at this time as loan activity is expected to rise today.

Saturday, September 21, 2013

What In The World? - Apartments For Cars?

Weekend Economics Commentary: What in the world? Seems like every decade or so folks in the building and architectural design industry invents a new way to park your car. At one time the new craze was double and triple tier parking lots, now called parking garages. Not to be confused with automatic upright car storage. Another form of parking entirely. I don't know about you but seeing those poor cars stacked upright and compressed packaged with hundreds of other cars seems somehow downright inhumane. Well, it does.

So what will they think of next, an apartment for cars? Yep. Imagine your car sitting behind glass adjacent your living room right there in your apartment on the 10th floor. That's right. It's the new parking craze for the well to do. How does the car get there? A hybrid transport system and not an elevator. Next thing you know you'll be saying "Beam my car up Scottie" and poof, it appears out of no where. Of course if we could do that who needs cars, right?

So what does this new form of in home parking say about the state of the economy? Not much. Especially when considering the fact that many apartment builders are opting for designs that have no parking spaces or parking lots what-so-ever, forcing tenants to give up their cars and rely more on commercial and public transportation not to mention riding bikes and scooters. What's this world coming to anyway?

What In The World
Commentary by Mark Askew

Weekly Recap:The Feds stay the economic stimulus policy to offset the rise in interest rates. The retreat in the average rate of a 30-year mortgage ensues throughout the remainder of the week dipping slightly lower.  Mortgage rates remain low by historical standards as rates drop to 4.5%. 

This gives homebuyers some wiggle room and the housing industry a home building advantage. A veritable mortgage rate rush continues as sales of existing homes set a new recovery high in August. Some mortgage advisors are urging consumers to lock in mortgage rates while they still can. Refinancial News Update

Friday, September 20, 2013

Mortgage Rate Weekly Recap

Mortgage Rate News: The Feds stay the economic stimulus policy to offset the rise in interest rates. The retreat in the average rate of a 30-year mortgage ensues throughout the remainder of the week dipping slightly lower.  

Mortgage rates remain low by historical standards as rates drop to 4.5%. This gives homebuyers some wiggle room and the housing industry a home building advantage. 

A veritable mortgage rate rush continues as sales of existing homes set a new recovery high in August. Some mortgage advisors are urging consumers to lock in mortgage rates while they still can. 

House Sales Rise Mortgage Rates Drop

Mortgage Rate News: While analysts expected a slowing in home sales reports indicate home resales are steady despite mounting interest rates. Sales of existing homes set a new recovery high in August increasing to 1.7%.  

The Fed chose to stay the existing market stimulus this week while average U.S. rates on fixed mortgages continued to decline this week amid signs that the economy may be slowing. In lue of the steady mortgage drop mortgage business experts say it's a good time for consumers to get mortgage rates. - Refinancial News Update

Thursday, September 19, 2013

30 Year Mortgage Rates Take A Dips

On Thursday Freddie Mac said the average rate on the 30-year fixed mortgage took a dip to 4.5% from 4.57% last week. So What does that say about the state of the housing market? Overall, mortgage rates remain low by historical standards. Concerns over predictions of rising interest rates have moved some homeowners to close deals as quickly as possible.

Wednesday, September 18, 2013

7 Worst Reasons To Refinance Your Home

Home refinancing is becoming a serious consideration for homeowners at this time given the housing markets seeming rebound. Experts advise homeowners to make sure their reasons for refinancing does not cut a wider hole in their financial pockets and completely empty their wallets. See how your refinance needs line up with the 7 worst reasons to refinance your home loan. 

1. To free up funds to invest in stocks
2. To free up funds to buy a second home
3. To free up funds to take an expensive vacation
4.. Moving to a loan with a longer term
8. Consolidating debt
5. Getting another loan to switch from an adjustable rate to a fixed rate
6. To pay off the loan faster
7. To lengthen the loan term

While the controversy as to what makes for a good reason to refinance is fettered with conflicting views the ultimate determination is how much it's going to cost you on the front end and the back end. That said, it's best to look at the whole scenario in terms of costs.

Tuesday, September 10, 2013

7 Steps To A Lower Mortgage Rate

You are paying way too much on monthly mortgage fees. You want to free up funds to pay other bills.  So how do you go about getting a lower mortgage payment at low rates? Consider refinancing. These are the initial steps.
  • Define Your Savings Needs
  • Check Natl. Rates
  • Calculate Payments
  • Apply for Rate Quotes
  • Compare Rate Quotes
  • Calculate Rate Quotes According To savings Needs
  • Accept Best Quote and Loan Program