You’ve been working all of your life and living within your budget. You’ve never had trouble qualifying for a mortgage because your credit rating was high, your debt-to-income ratio was good, and you bought a house that you could afford. Now, you’re fully retired and want to sell the old family home that still has […]
Tips for Obtaining a Mortgage During Retirement – You Need a Strategy
September 20, 2022 by Leave a Comment
Ed Kushins on 5 Biggest Mistakes to Avoid When Buying a Vacation Home
September 20, 2022 by Leave a Comment
As the founder of Vacation Property Partners, I encourage careful thought, analysis, and prudence before taking that big step to buy a vacation home,” states Ed Kushins, vacation property visionary, and entrepreneur. “Here are some things you can consider to mitigate some of the possible mistakes noted in the Yahoo Finance article.” Making an Emotional Investment Kushins […]
Black mortgage applicants still face discrimination, study finds
August 30, 2022 by
Aspiring Black homeowners still face more obstacles than other demographics in their pursuit of homeownership, a new report from the online loan marketplace LendingTree has found. The research found that the denial rate for Black mortgage applicants is almost twice as high as the nation’s average in the country’s 50 largest metropolitan areas. LendingTree based […]
Rising rates hurt buyers more than home price rises, economist says
August 26, 2022 by
Home buying is getting harder, with mortgage rates on the rise again this week. This Thursday, they hit an average of 5.55%, according to data from Freddie Mac. Mortgage rates are now almost double what they were one year ago, and the latest data highlights the impact the increases are having on the cost of […]
Why Mortgage Applications Continue to Decline
August 18, 2022 by
According to recent data, mortgage applications are at their worst in 22 years. Just a short time ago, it seemed everyone was in a rush to either buy a home or refinance, but now Americans have put the brakes on the housing market. There are several reasons for the dip in mortgage applications, including mortgage rates, inflation, […]
Why a 15-Year Mortgage is Better than a 30-Year Mortgage
August 17, 2022 by
Nearly 87% of people who buy homes finance their home purchases. While many choose 30-year loans, some choose a 15-year mortgage. Financing a home is the easiest way to buy a house. After all, it allows you to pay off your home for the next 15 to 30 years instead of saving enough money to pay cash for […]
Refinance applications jump on wild swings in mortgage rates
August 12, 2022 by
Mortgage rates last week rebounded, having dropped towards the end of July. As a result, mortgage demand was split, with refinancing applications moving higher while homebuyer applications fell, according to the latest data from the Mortgage Bankers Association. The data shows that the average contract interest rate for a 30-year fixed-rate mortgage with a conforming […]
Mortgage applications rise amid strong demand for ARMs
June 24, 2022 by
Mortgage applications surprisingly jumped 8% last week compared to the previous seven day period, boosted by demand for adjustable-rate mortgages, according to the Mortgage Bankers Association. However, applications are still down 10% compared to one week ago. The MBA said that last week’s jump in mortgage rates may have actually increased homebuying demand, as consumers […]
More Home Buyers are Reaching for ARMs
May 22, 2022 by
The demand for homes remains robust. Despite 30-year mortgages being firmly above a 5% interest rate, mortgage applications for home purchases increased 5% in mid-May. That’s not surprising because springtime is the busiest season for home purchases. What is different this year is that buyers are turning to adjustable rate mortgages in higher numbers than […]
