Santa Bernanke’s Got a Brand New Bag of Low Mortgage Rates
With the Federal Reserve’s recent decision to drop overnight rates to (practically) zero, lenders are certain to be offering correspondingly low mortgage rates. Right? Maybe not. Here are three reasons that rates might NOT drop to rock bottom levels. This past week Bernanke and Co. decided it was time to go all in to save [...]
Your Christmas Present – Refinance at 4.25%
The holiday season is upon us and most homeowners are receiving the gift of having the opportunity to refinance at unbelievable rates. While we are out shopping for our children and significant others, our US Treasury Department is lending money for FREE! With financial institutes having the ability to borrow money for almost no interest, [...]
April 2005 – Jim Rogers Calls it a “Housing Bubble”
In April of 2005, Jim Rogers made the statement that “we (America) are in a housing bubble in much of the United States and in some other countries partly because interest rates were driven too low and too much money has been printed.” The words uttered by Mr. Rogers on that April day in 2005 [...]
Why You Should Rent and NOT Buy a Home
Over my 26 year life, I have never heard anyone say that you “should” rent instead of buy until yesterday. It has been accepted over the last 60 years that it is a strong investment to buy a home in the United States. The value of a home has appreciated at a greater rate then [...]
30 Year Fixed Mortgage Rates Hit a 37 Year Low!
Thursday, December 18th, Freddie Mac stated that the 30 year fixed rate mortgage dropped to a 37 year low. The benchmark mortgage rate fell to 5.19% down from 5.47% last week. The 30 year fixed mortgage rate was almost a full point higher one year ago at 6.14%. This is the seventh straight week of [...]
9 Online Resources For Homeowners
After scouring the web, I have found 9 great resources that all homeowners should use on a consistent basis. I love of numbers and facts that can help you determine how much your house is worth and if it is the right time to buy, sell or refinance. What a $210,000 House Would Cost in [...]
Americans are Refinancing their Homes at Lower Rates, Should You?
Mortgage applications in the United States rose by 2.9 percent last week. Much of this can be attributed to homeowners refinancing at a much lower rate. Locking in at a lower rate can save homeowners up to several thousand dollars a month. The declining mortgage rates are a direct response to the Federal Reserve Bank [...]
The IRS Will Help You Refinance or Sell Your Home
On Tuesday, December 16th, the Internal Revenue System stated that they will do their best to make it easier on homeowners, who are struggling financially, to refinance or sell their homes. Under the new plan, taxpayers will have the opportunity to ask the IRS to remove its claim on a home in circumstances in which [...]
1 of 10 Americans Behind on Their Mortgage
Today we learned that consumer prices fell by a record 1.7%. It was the second straight month that prices declined by a record amount. This is just one indication of the troubling economic environment America is in. While falling prices may seem like a good thing, deflation is generally bad because if the price of [...]
First the Subprime Mortgage Crisis; Now the “Exotic” Mortgage Crisis?
On December 14th, 2008, 60 Minutes reported the story “A Second Mortgage Disaster On The Horizon.“ The premise of the report was that the first mortgage crisis was due to defaults on subprime mortgage loans. We all know what has happened to the housing market and the economy since the subprime crisis began. What most [...]
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