Robby Oakes Mortgage - Chapel Hill Mortgage Lender | Robby's Blog about Mortgages in Raleigh, Durham, Chapel Hill, and Crystal Coast area of NC

Need to Discuss – How to Refinance Your Adjustable-rate Mortgage with Better Terms

May 24, 2016 by Robby Oakes

An adjustable-rate mortgage was once a great mortgage product, at a time when home buyers wanted to avoid locking in high interest rates. But with historically low interest rates now available to millions of buyers and rates expected to rise in 2017, lots of mortgage holders are trying to find a deal and negotiate better terms before rates go up. One great way to save on mortgage costs is to refinance your adjustable-rate mortgage.

So how can you make a mortgage refinance work for you? Here are a few tactics you can use to get better terms through a refinance on your adjustable-rate mortgage.

What’s Ahead For Mortgage Rates This Week – May 23, 2016

May 23, 2016 by Robby Oakes

Last week’s economic news included the NAHB Housing Market Index, reports on housing starts, building reports and existing home sales. Minutes of the Federal Reserve’s last FOMC meeting were also released.

3 Ikea Hacks That Can Be Done in a Weekend’s Time

May 20, 2016 by Robby Oakes

Whether you’re moving into your first apartment or preparing to purchase a second home, Ikea is a favorite for those trying to economically fill up the extra space in their home. While Ikea may have plenty of inexpensive options that you might not think can be dressed up, there are actually a lot of simple pieces that you can add to for a stylish, DIY look that will take no time at all.

How Are Mortgage Rates Determined?

May 19, 2016 by Robby Oakes

If you’ve been paying attention to the mortgage rate news, you may be wondering exactly how it is banks decide what mortgage rates to offer. Do they just pick a number at random? Mortgage rates may seem somewhat arbitrary, but there’s actually something of a science to them.

So how does your bank or lender determine what your interest rate will be? Here are just some of the factors that go into the equation.

NAHB: Home Builder Confidence Holds Steady in May

May 18, 2016 by Robby Oakes

The National Association of Home Builders reported that home builder confidence in the U.S. housing market conditions held steady for the fourth consecutive month in May. Builder confidence stayed at a reading of 58, which was the number expected by analysts and was also the reading for April. Analysts said that the consistency in readings signified expansion in housing markets. Any reading over 50 indicates that more builders than not are confident about market conditions.

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