The United States government established the HARP program, otherwise known as the Home Affordable Refinance Program, to assist homeowners who are struggling with their mortgage payments. However, the program will be ending soon, and homeowners who have not yet taken advantage of the program and who intend to do so may need to act quickly.
What’s Ahead For Mortgage Rates This Week – July 27, 2015
Last week’s scheduled economic news releases were limited as no news was released on Monday or Tuesday, but good news did arrive in the form of a dip in mortgage rates for fixed rate loans. NAR reported higher sales of pre-owned homes and FHFA reported that home price growth associated with mortgages held or backed by Fannie Mae and Freddie Mac held steady in May.
Have a Weekend to Spare? Consider These Quick Renovations to Add Value to Your Home
Homeowners who are thinking about listing their home for sale in the coming weeks or months may be focused on improving their home to help it sell more quickly, but there also may be a focus on adding value to the home in the process. In fact, these are a few simple and easy projects that can typicaly be completed over the course of a weekend; that can add value and desirability to the home.
Good News! Existing Home Sales, FHFA Home Prices Increase
Housing markets show continued signs of strengthening according to reports released on Wednesday. The National Association of Realtors® reported that sales of pre-owned homes rose to 5.49 million in June as compared to Mayâs revised reading of 5.32 million pre-owned homes sold and expected sales estimated at 5.42 million sales. Expectations were based on Mayâs original reading of 5.35 million sales. Juneâs reading was the highest since February of 2007. Readings for existing home sales are calculated on a seasonally adjusted annual basis.
Assessing Your ‘Debt-to-Income Ratio’ and Why This Number Matters When Getting a Mortgage
For those who are looking to buy a home soon, keep in mind that the Debt-to-Income ratio of the borrower plays a huge role in the approval of your mortgage application. A low DTI may make it easier for the lender and the underwriter to justify making a loan to the borrower.
Seeking the Perfect Summer Home Improvement Project? It’s Time for an Inground Pool
The warmer summer months provide homeowners with the ideal conditions for making improvements to their property, and many will want to put installing an in-ground swimming pool at the top of their list of improvement ideas.
What’s Ahead For Mortgage Rates This Week – July 20, 2015
Last week’s economic news included an encouraging report from the National Association of Home Builders, whose housing market index held steady with a reading of 60 in July. This was the 13th consecutive month for readings over 50, which indicate that more builders are confident about housing markets than those who are not. July’s reading was noteworthy as it was the highest since November 2005 prior to the recession.
NAHB: Home Builder Confidence Holds Steady
Home builder confidence remained steady at the highest reading in almost ten years according to the National Association of Home Builders (NAHB) Wells Fargo Housing Market Index for July.
House Hunting? Watch for These 5 Red Flags when Viewing Potential New Homes
While there are specific factors that buyers may be searching for in a new home, there are also a few warning signs that home buyers should keep their eyes open for. The following are among the top red flags that may serve as warning signs.
Mortgage 101: 3 Reasons to Avoid Giving Wrong Information on Your Mortgage Application
Completing a loan application is among the first steps mortgage applicants take when applying for a loan, and it is easy to overlook the importance of providing accurate information at this stage in the process. It is best to take time complete the loan application as accurately as possible as it is a legal requirement and because of the other negative consequences.
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