If your adjustable rate mortgage is due to adjust this year, don’t go rushing to replace it just yet. Your soon-to-adjust mortgage rate may actually go lower this year.
On the surface, May’s Pending Home Sales Index looks terrible for housing. And, if you’re a seller, it just might be. But, if you’re a buyer, the story reads differently. Just consider the market conditions.
The press is referring to the May New Home Sales report as “poor”. A closer look, however, shows that may not be the case.
Contrary to what you may have read (or heard), the federal home buyer tax credit has not been extended past June 30, 2010. At least not yet.
Mortgage rates are low and they likely won’t stay that way. If you’ve been thinking about a refinance, talk to your loan officer as soon as possible.
According to the National Association of Realtors®, although the number of homes sold ticked higher in April, so did the supply of existing homes for sale, too. Sellers are now listing homes faster than buyers can buy them.
More than 60 percent of U.S. homes are “over-assessed”, says an industry trade group. It causes homeowners to pay more in property taxes than they otherwise should have to. You might be one of them. Have you considered fighting it?
Each week, government-led Freddie Mac publishes a weekly mortgage rate survey based on data from 125 banks across the country. According to this week’s results, the relative rate of a 5-year ARM is extremely low versus its 30-year fixed-rate cousin.
California, Florida, Arizona and Georgia accounted for more than half of all bank repossessions in March 2010. It’s a disproportionate distribution of foreclosures. Together, the 4 states represent just 23 percent of the overall U.S. population.
Not all home improvements are created equal. Especially if you’re looking for “resale value” back from your work. An article from the Wall Street Journal lays it out cleanly. Function beats flash these days so be wary of where you spend.