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How to Financially Prepare for Buying a House

How to Financially Prepare for Buying a House

by | Nov 12, 2022

Source: U.S. News ---  Getting to a point where you feel emotionally and mentally ready to buy a house can be a journey on its own. But your work doesn't stop there. Most homebuyers don't have a lump sum they can use to buy a home in one cash payment. Instead, buyers...

Mortgage Rates Move Lower For Third Straight Day

Mortgage Rates Move Lower For Third Straight Day

by | Nov 12, 2022

Source: Mortgage News Daily --- We're in the middle of a 4 day week culminating in one of the most important events of the year for interest rates.  Thursday morning brings the release of the Consumer Price Index (CPI)--an inflation report that has resulted in bigger...

Brokers urged to educate clients on green mortgages

Brokers urged to educate clients on green mortgages

by | Nov 12, 2022

Source: FT Adviser ---  The mortgage industry has a role to play in combatting climate change and reducing people's energy bills, yet the vast majority of borrowers do not understand green mortgage products, research suggests. A survey from the Mortgage Advice...

Mortgage rates collapse on softer inflation data

Mortgage rates collapse on softer inflation data

by | Nov 10, 2022

Source: Housing Wire --- Finally, some good news: the growth rate of inflation is cooling off for now, and with the CPI inflation report being positive, the 10-year yield fell noticeably, and mortgage rates will fall with that! So, the question is, are we reaching the...

Local homes sales drop as mortgage rates rise

Local homes sales drop as mortgage rates rise

by | Nov 10, 2022

Source: WWNYTV 7 News --- WATERTOWN, New York (WWNY) - Mortgage rates are right around 7 percent for a 30-year fixed rate. Nationally, rates are at their highest since 2006 and they’ve nearly doubled since last year. So, what is this doing to the local housing market?...

Should You Pay Points to Get a Lower Mortgage Rate?

Should You Pay Points to Get a Lower Mortgage Rate?

by | Nov 10, 2022

Source: Yahoo! Finance --- With mortgage rates near 20-year highs, some homebuyers are struggling to afford homes. The average rate for a 30-year fixed mortgage was 6.95% in November’s first week, dipping from a 7.08% peak a week earlier, according to Freddie Mac...

Marry the House, Date the Mortgage Rate – Does It Work?

Marry the House, Date the Mortgage Rate – Does It Work?

by | Nov 9, 2022

Source: Yahoo! --- The average U.S. rate for a 30-year fixed mortgage reached a 20-year high of 7.08% in the final week of October, more than doubling from a year earlier, according to Freddie Mac (FMCC). Homebuyers aren’t happy. On a $350,000 home loan, a mortgage...

Fed sees risk of big declines in still-lofty US house prices

Fed sees risk of big declines in still-lofty US house prices

by | Nov 9, 2022

Source: The Business Times --- THE Federal Reserve suggested on Friday (Nov 4) that lofty home prices could be susceptible to steep declines after big run-ups in recent years on the back of ultra-low interest rates. “With valuations at high levels, house prices could...