Blog - Robby Oakes Mortgage

A Guide for Those Intrested In Refinancing a Traditional Mortgage to a FHA Mortgage

August 4, 2015 by Robby Oakes

Refinancing a mortgage can provide a homeowner with many benefits, and many are interested in refinancing their traditional mortgage into an FHA mortgage to take advantage of low interest rates. Depending on the specific circumstances, this step may lower the monthly payment, reduce interest charges, adjust the loan term so that it is more beneficial for achieving financial goals and more.

What’s Ahead For Mortgage Rates This Week – August 3, 2015

August 3, 2015 by Robby Oakes

Last week’s scheduled economic reports included the Case-Shiller 20 and 20-City Index reports, pending home sales data released by the National Association of RealtorsÂ® and the scheduled post-meeting statement of the Federal Reserve’s Federal Open Market Committee. This week’s economic calendar includes reports on consumer spending, core inflation and consumer spending. July readings on Non-Farm Payrolls and the national unemployment rate will also be released along with regularly scheduled weekly reports on new jobless claims and mortgage rates.

First-time Home Buyers: Why Splurging for a Larger Home Beats Condo Living

July 31, 2015 by Robby Oakes

While there may be some initial financial benefit associated with buying a smaller property, there are a few benefits associated with splurging and buying a larger home as a first purchase. By analyzing these benefits, first-time home buyers can make a more informed decision about how to proceed.

Federal Reserve FOMC Announcement

July 30, 2015 by Robby Oakes

The stage was set in high suspense for FOMC’s post-meeting announcement on Wednesday. As fall approaches, analysts and the media are looking for any sign of when and how much the Fed will raise its target federal funds rate. According to CNBC, some analysts were projecting two interest rate hikes before year end, but the truth of the matter remains unknown until the Federal Open Market Committee announces its intentions.

Understanding the Basics of How the Adjustable Rate Mortgage or ‘ARM’ Works

July 29, 2015 by Robby Oakes

As the 2009 recession fades into the sunset, the home buying market is showing signs of improvement in areas all over the United States. With more home buyers now entering the market, this becomes a good time to discuss one popular type of mortgage called the “Adjustable Rate Mortgage” or ARM.

The HARP Mortgage Program is Coming to an End Soon – Here’s What You Need to Know

July 28, 2015 by Robby Oakes

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

July 27, 2015 by Robby Oakes

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

July 24, 2015 by Robby Oakes

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

July 23, 2015 by Robby Oakes

Housing markets show continued signs of strengthening according to reports released on Wednesday. The National Association of RealtorsÂ® 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

July 22, 2015 by Robby Oakes

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.

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