Getting a mortgage is often referred to as “the mortgage process,” with an emphasis on the “process” part. It’s not a one-and-done type of event (as much as we all want it to be), but getting preapproved can set you up for success. When you get preapproved you get a beautiful document called a preapproval letter, also known as your PAL. But before we get ahead of ourselves, let’s nail down the preapproval basics.
The Fed met again yesterday, and this was a highly anticipated meeting. There are many points of concern that could currently affect the U.S. economy: oil prices plummeting, turmoil in Russia, unrest in much of the world, etc. So we all waited with eagerness for advice from the Fed.
Pending Home Sales jumped a very strong 6.1%. All regions showed solid gains in this area, but were led by the Northeast, which has proven to be the strongest region for existing home sales.
If you have a 30-year fixed mortgage with a rate of 4.5% or higher, there’s great news. Right now, a 15-year fixed is about 1% below the 30-year fixed rate. That means you could save thousands of dollars of interest over the life of your loan by refinancing to a 15-year fixed. If you’re interested in seeing if you could save money, enjoy a low interest rate, or pay off your loan faster, you owe yourself a chance to get a Quicken Loans Mortgage Review today!
If you’re wondering what that phrase after your name on a deed or title is, then this is the right blog for you! When title companies determine how you will hold title they will look at your “vesting” deed, which is your most recent deed. Determining how to hold title depends on an individual’s current situation, and how that person wants to pass ownership in the event of death, divorce or sale of their real estate.
The recent volatility in the stock market is probably confusing and a little scary to us casual investors; let’s take a look at this recent downturn in the Dow, what’s causing it and what you could/should do about it.
Initial jobless claims fell to 338,000 in the week ending December 21, from a revised 380,000 in the previous week. The Labor Department is stating that difficulty in adjusting data during the holiday season is the likely reason for volatility in claims for the last two months of the year.
The holiday season is upon us and I have a lot to be thankful for: family, friends, football and a delicious Thanksgiving dinner. The list could go on and on.There’s also something else we can all be thankful for: low mortgage rates!
Not only did mortgage rates not snowball out of control, they actually declined, according to the weekly Primary Mortgage Market Survey. This marks the first week rates have decreased since Oct. 31.
This week, according to the Primary Mortgage Market Survey, rates increased. The upward climb marks the second consecutive week rates have gone up.