All posts categorized under ‘Financing’
The residential market has some challenges these days, but in a free market dictated largely by supply and demand, whenever there is a minus someplace, there will be a plus someplace else. The positves: Home prices are generally more affordable now, and when coupled with today’s interest rates, they add up to a huge plus. Interest rates now are very close to the lowest ever available in history for refinances and
One change that happened as a result of the sub-prime mortgage meltdown a few years back is that the government reacted by tightening up the lending rules and documentation needed for obtaining a loan… or as I like to put it, they stopped all the funny business going on. The old rules were too loose and there was poor oversight and a lot of bad loans were made, quite a
Knowing what a mortgage payment would be for a 30 year fixed-rate mortgage without a calculator is something that comes in handy. Remembering what the payment amount would be for $1,000 is how I do it. That number times ten would of course then be the payment for $10,000…or times a hundred for $100,000. So it’s easy then to figure what any amount would be by moving the
I stay away from politics normally, but this is an needed exception. There is a Bill being considered in the US Congress now that everyone needs to be aware of who owns a home or who may buy one in the future. It proposes changes to regulations involved with Qualified Residential Mortgages, drastically changing the rules of who would be able to obtain a mortgage loan. Sellers and Buyers would both be impacted by
Looking back over the last couple of years, few of us thought interest rates would have remained as low as they have been for such a long time. It’s a reflection on the state of the national economy in general more than anything. Demand for real estate is localized, meaning market activity here has nothing to do what is happening in another community anywhere else in the country. But mortgage money
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