home ownership

Why Mortgage Rates Were Up For The Third Day In A Row

July 15, 2009

Mortgage markets worsened for the third straight Tuesday after the government reported June’s Retail Sales report came in slightly better than expected . Since falling to near 5.000 percent last week, 30-year fixed conforming mortgage rates have risen by almost 3/8. It’s a similar mortgage rate pattern to what we’ve seen over the last 10 months — rates drift down to near their “all-time lows”, and then surge higher over just a few days time.

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Falling Gas Prices May Be Linked To Lower Mortgage Rates

July 14, 2009

If you’ve been driving lately, you’ve noticed that the cost of a fill-up has gone down. According to GasBuddy.com, retail gas now costs $2.52 per gallon , on average nationwide

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Change Your Closing Date To Get A Lower Mortgage Rate

July 10, 2009

Sometimes, saving money on your mortgage is as simple as picking a better closing date. It’s all about Rate Lock Commitments. A Rate Lock Commitment is a bank’s promise to honor a specific mortgage rate for a specific period of time

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5 Purchases To Make In A Down Economy

July 9, 2009

Down economies reduce consumer spending, creating a bind for retailers.

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How A Rising Unemployment Rate Can Help Mortgage Rates Fall

July 7, 2009

Last week’s jobs report is the latest data point to drag down rates for today’s home buyers and would-be refinancers.

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Home Prices Show Improvement In 19 of the 20 Case-Shiller Markets

July 1, 2009

Tuesday — for the first time in a long while — members of the press met the monthly Case-Shiller Index data with enthusiasm. And why shouldn’t they?

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With The Year Half-Over, How Accurately Did Economists Predict 2009

June 30, 2009

At the start of the year, the “experts” made a lot of predictions about the U.S. economy and what to expect in 2009

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In Another Good Sign For The Housing Market, Builders Are Clearing Out Their Inventory

June 26, 2009

If you only saw the headlines this week, you may have missed another positive sign in the housing market. According to the Census Bureau, the supply of newly-built homes for sale fell to 10.2 months in May, its lowest level in 10 months

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3 More Signs Of A Strengthening Housing Market

June 24, 2009

The housing market got another dose of good news yesterday. According to the National Association of REALTORS, the number of homes sold in May increased for the third straight month and the national housing supply fell by 5 months

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Adjusting For Cost Of Living Differences After A Non-Local Move

June 18, 2009

Moving to a new metropolitan area requires adjustments.

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What Consumer Sentiment Surveys Mean To Housing Markets

June 16, 2009

Americans are feeling better about their budgets right now, raising the possibility of a full economic recovery. According to a University of Michigan and Reuters, Consumer Sentiment rose for the fifth straight month in June.

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VIDEO : How Do I Prioritize Paying Monthly Bills Versus Saving For Retirement?

June 7, 2009

Suze Orman recently appeared on The Today Show and gave 5 minutes of practical money management advice. Not everyone’s a fan of Ms. Orman, but this is an interview worth watching

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Mortgage Rates Higher On April’s 539,000 Jobs Lost

May 8, 2009

The economy shed 539,000 jobs in April , raising the 6-month total to nearly 4 million jobs lost. And while the April data may look bad, it’s actually 10% better than what was expected.

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The Minimum Preparatory Steps When Co-Purchasing A Home With A Friend Or Family Member

May 6, 2009

Both mortgage guidelines and the economy have tightened since 2006, bringing more attention to “joint homeowners” — non-spousal partners that buy and share a home as roommates. The practice is not new, but, anecdotally, co-purchasing is becoming more common

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National Real Estate Data Lumps 128,203,000 Homes In America Into 1 Data Set

April 23, 2009

National real estate data helps economists identify trends in the housing market. It shapes policy and influences markets. For active home buyers and home sellers, though, national real estate data is irrevelant

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Why Home Buyers Should Worry About Falling Housing Starts And Why Sellers Should Cheer Them

April 19, 2009

With respect to housing data, news is rarely positive or negative on a universal level. There’s always two perspectives to consider, after all.

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Another Positive Housing Signal : The Number Of Homes Under Contract Increase

April 2, 2009

The number of homes under contract to sell is rising, another signal that the housing market may be regaining its footing. As reported by an industry trade group, the Pending Home Sales Index gained 2 percent in February . The report measures MLS-listed homes in “pending” status — sold but not yet closed.

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Are Home Values Rising Or Falling? The Answer Depends On Who You Ask.

April 2, 2009

A report published Tuesday showed that home values fell nearly 3 percent in January 2009 versus the month prior and by 19 percent from last year. On the surface, data from the study looks like more bad news for housing

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8 Things You Absolutely Shouldn’t Do Now That Your Mortgage Application Is In-Process

March 31, 2009

With mortgage rates are hovering near all-time lows, lots of Americans are taking advantage of refinance and home buying opportunities. The downside of today’s unexpectedly-low rates, though, is that mortgage lenders are ill-equipped for the rush of new business. As a result, the process of underwriting and approving new mortgage applications is taking some conforming lenders as long as 2 months to complete

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FHA Cash Out Refinances Getting More Strict As Of April 1, 2009

March 30, 2009

If you’re in want of a cash out refinance, the most liberal cash-out program in town is about to make qualification more difficult. Effective April 1, 2009, the FHA is reducing the maximum loan-to-value on cash-out refinances by 10 percent, dropping the loan size limit from 95% of the home’s value to 85%. In its official press release , the FHA days it’s making the change to “limit its exposure to undue risk”.

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