It was an uneventful week for the data reports, as the majority of the interest waits for the Federal Reserve’s rate decision heading into the following week. One of the most notable reports is for New Home Sales, which had managed to greatly exceed the projections for the end of the year moving into January. It is an early sign that there is a surge in response to the week-to-week rate cuts we have been observing over the last two weeks. The second largest data reports come from the PCE … [Read more...]
Mortgage Rate Locks When and How to Secure a Favorable Rate
Rate locks play a crucial role in the mortgage application process, helping borrowers secure a favorable interest rate for their home loans. Here's an explanation of the importance of rate locks and when and how to secure the best rate: Interest Rate Protection: Mortgage rates are subject to market fluctuations and can change daily or even multiple times a day. Rate locks protect borrowers from potential rate increases during the loan processing period. Budgeting and Planning: Knowing the exact … [Read more...]
How to Evaluate Property Taxes and What You Need to Know Before You Buy
Retirement is a significant milestone in one's life, symbolizing the culmination of years of hard work and dedication. As individuals approach this stage, meticulous planning becomes imperative to ensure a comfortable and financially secure future. Among the plethora of retirement planning options, real estate emerges as a challenging player, offering unique advantages that can enhance the overall strategy. Let’s discuss the pivotal role that real estate plays in retirement planning and … [Read more...]
How Do Mortgage Lenders Decide How Much You Can Borrow?
When you visit your lender to get a mortgage for your home, they will tell you the maximum amount that you are allowed to borrow. But how do they reach this total and what factors do they take into consideration? How do they determine that one borrower can take on a bigger mortgage than the next? This decision is made by mortgage companies by considering a wide range of factors, including your credit information, your salary, and much more. Here Are Some Of The Common Ways That Lenders Determine … [Read more...]
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