What's Up With Ben Bernanke Not Being Able To Refinance His Mortgage? Anyone who has watched the news lately will be surprised to see that Ben Bernanke, the former chairman of the Federal Reserve is unable to refinance his mortgage. While this may seem as a bad joke, it is actually the result of strict regulations set by the government owned … [Read more...]
What’s Behind Declining Affordability in the Golden State?
Even though Orange County residents experienced low home price appreciation from August to September—with a -0.5% drop, affordability is still impacting Southern California. Some of the reasons behind this decrease in purchase power are: more-sluggish-than-anticipated economic growth, incomes that haven’t kept up with the cost of living, and lack … [Read more...]
What’s Keeping Renters out of the Housing Market?
With metros like Los Angeles, Riverside, and San Diego seeing a 10.7%, 11.1%, and 15.5% increase, respectively, in the number of college grads they’ve gained since 2007, it’s hard to believe that home sales aren’t off the charts. So, What’s Keeping Renters out of the Housing Market? Especially when you factor the job growth SoCal metros have … [Read more...]
A Reminder That Mortgage Fraud Is Still Alive And Kicking
There are people who believe that mortgage fraud is a thing of the past and that bad guys have either fled to other domains, or that they have been caught. However, recent events show us that mortgage fraud is pretty much alive and well, and that there are many willing to go to great lengths just to earn some easy money. On the other hand, there … [Read more...]
Mortgage Rates Fallen To Their Lowest Level Since June 2013
Anyone who is paying attention to the United States financial market has surely noticed that a new low in mortgage rates has just recently been reached. It has been a full 16 months since rates this low have been reached on the average 30-year fixed-rate mortgage market. This is largely the result of concerns about the global economy sending … [Read more...]
The Dos and Don’ts of Mortgage Credit
It’s no secret that mortgage lending is perceived as tight among borrowers. So if you’re looking to purchase a home, you’ll want to avoid any misconceptions that can impact your ability to qualify for a mortgage. There are plenty of credit myths floating around. According to a recent TransUnion survey, 48% of respondents believed that their rental … [Read more...]
Why Mortgage Preapproval Is A Must
Before you start looking for a new home or attending open houses, it is important to go through the preapproval process. When it comes to buying a home, shopping around without a preapproval letter is the same as going to the mall without bringing your purse or wallet, useless. Buying a new home is exciting, and many buyers often become eager and … [Read more...]
Why Mortgage Costs May Soon Grow For Many Homebuyers
What Is The True Cost of Mortgage Payments? Since the beginning of the housing crisis, in 2008, there have been many up and downs in the housing market. Some potential homebuyers have found it difficult to purchase a home, while others, along with real estate investors and home flippers, have taken advantage of the crisis and had great success. As … [Read more...]
All-Cash Home Sales Fall To Six-Year Low
This summer, our country saw a decline in the purchase of homes through all cash home sales. In June 2014, all cash sales only made up a total of 33 percent of home sales in the country. This was the lowest we have seen since September 2008, which is what most people consider the unofficial start of the financial crisis. 33 percent is 3.3 percent … [Read more...]
Low Mortgage Rates Are Persistent
Lowest Mortgage Rates 2014 Over the course of 2014, we’ve watched a very interesting phenomenon take place in home mortgages. Despite the fact that many economists and experts predicted that mortgage rates would rise from last year’s rates, they have remained persistently low. This was a surprising turn that no one expected, considering that almost … [Read more...]
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