Good News! Existing Home Sales, FHFA Home Prices Increase

July 23, 2015

Housing markets show continued signs of strengthening according to reports released on Wednesday. The National Association of Realtors® reported that sales of pre-owned homes rose to 5.49 million in June as compared to May’s revised reading of 5.32 million pre-owned homes sold and expected sales estimated at 5.42 million sales. Expectations were based on May’s original reading of 5.35 million sales. June’s reading was the highest since February of 2007. Readings for existing home sales are calculated on a seasonally adjusted annual basis.

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Assessing Your ‘Debt-to-Income Ratio’ and Why This Number Matters When Getting a Mortgage

July 22, 2015

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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Seeking the Perfect Summer Home Improvement Project? It’s Time for an Inground Pool

July 21, 2015

The warmer summer months provide homeowners with the ideal conditions for making improvements to their property, and many will want to put installing an in-ground swimming pool at the top of their list of improvement ideas.

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What’s Ahead For Mortgage Rates This Week – July 20, 2015

July 20, 2015

Last week’s economic news included an encouraging report from the National Association of Home Builders, whose housing market index held steady with a reading of 60 in July. This was the 13th consecutive month for readings over 50, which indicate that more builders are confident about housing markets than those who are not. July’s reading was noteworthy as it was the highest since November 2005 prior to the recession.

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NAHB: Home Builder Confidence Holds Steady

July 17, 2015

Home builder confidence remained steady at the highest reading in almost ten years according to the National Association of Home Builders (NAHB) Wells Fargo Housing Market Index for July.

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House Hunting? Watch for These 5 Red Flags when Viewing Potential New Homes

July 16, 2015

While there are specific factors that buyers may be searching for in a new home, there are also a few warning signs that home buyers should keep their eyes open for. The following are among the top red flags that may serve as warning signs.

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Mortgage 101: 3 Reasons to Avoid Giving Wrong Information on Your Mortgage Application

July 15, 2015

Completing a loan application is among the first steps mortgage applicants take when applying for a loan, and it is easy to overlook the importance of providing accurate information at this stage in the process. It is best to take time complete the loan application as accurately as possible as it is a legal requirement and because of the other negative consequences.

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3 Reasons Why Your Closing Costs Will Vary Depending on the Type of Home You Buy

July 14, 2015

Savvy home buyers who are preparing to make a real estate purchase should do their research and understand that they need to save money for not only the down payment, but the closing costs as well. Some home buyers however, may not realize that the amount of closing costs can vary considerably based on the home that is purchased.

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What’s Ahead For Mortgage Rates This Week – July 13, 2015

July 13, 2015

Last week’s scheduled economic events were few due to the Independence Day holiday. Freddie Mac’s weekly survey of mortgage rates brought good news as mortgage rates fell across the board. The Federal Reserve released the minutes of its most recent Federal Open Market Committee (FOMC) meeting and weekly jobless claims rose.

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Dealing with the Summer Heat? How to Keep Your Home Cool Without Using a Ton of Energy

July 10, 2015

Many people look forward to the long, relaxed, sunny days of summer, but they also dread opening up their energy bills throughout the summer months. Cooling a home can be costly, and many are searching for convenient ways to lower cooling costs without sacrificing on comfort inside the home on the warmest days of the year.

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