Last week's economic reports included S&P Case-Shiller Housing Market Indices, reports on new and pending home sales, Freddie Mac's weekly mortgage rates survey. The Federal Reserve released its customary statement after the scheduled Federal Open Market Committee meeting concluded; the Committee did not raise the federal funds rate of 0.25 percent, but indicated that economic risks were fewer, which suggested that the key Fed rate may be increased in September. According to the S&P … [Read more...]
How to Gain the Upper Hand in Real Estate Negotiations Without Being Mean or Rude
In a typical real estate transaction, numerous factors may be negotiated, and the terms of the purchase may be negotiated at different times throughout the process. For example, the contract may be negotiated at the time the original offer is made, but revisions to the contract may be negotiated after the property inspection has been completed. Both parties want to have the upper hand in negotiations, but those who focus on a few points are more likely to walk away feeling satisfied with the … [Read more...]
On a Variable Mortgage? 3 Signs Your Mortgage Payment Is About To Increase
For many homebuyers who are new to the market, it can be very comforting to be on a fixed rate mortgage where fluctuating interest rates cannot have an impact on your monthly payments. While a variable rate mortgage can sometimes lead to significant savings at the end of the day, there are a few ways you can tell if your monthly payment is on the upswing. An Increase In Your Home's Value A marked increase in a home's value is ideal for most homeowners who consider their home an important … [Read more...]
Case-Shiller: Home Price Growth Slows in May
According to the S&P Case-Shiller 20-City Home Price Index, home price growth in May dropped to a seasonally adjusted annual rate of 5.20 percent as compared to April's reading of 5.40 percent. Analysts said that low mortgage rates continue to support housing markets, but also noted that affordability due to rising home prices is sidelining some would-be buyers. High demand for homes coupled with slim supplies of available homes have driven prices up for months; analysts said that "tentative … [Read more...]
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