There are literally hundreds of mortgage loan “products” in the market these days, many of which are structured to provide homeowners flexibility. Option ARMs are made specifically to offer flexibility. But everyone is different and has different needs, so there isn't a one-size-fits-all. How do you choose the right Option ARM?
We’ve hit the bottom and we’re moving up.
Home values are on the RISE!
For the first time in five years, home prices edged up slightly nationwide, according to CNN.
The move up was slight, which is good news for both homeowners and home buyers. Homeowners can finally breathe a sigh of relief that things won’t get worse. Home buyers can still buy a home at a very good price (as I said the rise was slight) and enjoy mortgage rates that are lower than a snakes belly in a wagon rut. That’s pretty low, my friends.
Here’s some of the article:
Home prices hit a bottom and are finally bouncing back, according to an industry report released Tuesday.
Nationwide, home values rose 0.2% year-over-year to a median $149,300 during the second quarter, the first annual increase since 2007, real estate listing site Zillow reported. Prices were up 2.1% from the first quarter.
Even though June marked the fourth consecutive month of home value increases, overall home prices are still down almost 24% since April 2007, when Zillow began to track home values.
“[I]t seems clear that the country has hit a bottom in home values,” said Zillow’s chief economist Stan Humphries. “The housing recovery is holding together despite lower-than-expected job growth, indicating that it has some organic strength of its own.”
Last winter, Zillow projected that the housing market turnaround would not arrive until the end of the year.
Seems as though Zillow was off by a few months. I think it’s clear that the turnaround is finally upon us. As a homeowner, that certainly puts a smile on my face.
A homeowner who just took advantage of the incredible VA Streamline program and refinanced my VA loan to a ridiculously low 2.75% 15-year fixed VA loan. That’s a rate I can enjoy until the home is all mine. It won’t change. That’s a rate that makes me happy!
Read the full article and enjoy!