Bill Nickerson's BlogIf You Can Afford to Rent…Then You Can Probably Afford to Own. The cost of renting in many areas is now greater than the cost to buy. Even with mortgage rates on the rise, it is still more affordable than renting. Some say mortgage loans are impossible to obtain without perfect credit and/or 20% down. Want […]
Keeping a healthy credit score is integral to maintaining your financial wellness and moving toward your life goals. And if your credit score isn’t quite where you want it to be, the good news is that it’s not set for life; your credit score can always improve with the help of smart financial practices. If […]
Real Estate News in Brief The NAR’s Pending Sales Index for October fell 4.6% in a month and 37% compared to October 2021. Pending sales in the West region were down 46%. [Source: NAR] Keep in mind that 30-yr mortgage rates were >7% for the entire month of October. They’re now around 6.3%. The Case-Shiller […]
What is an Adjustable Rate? An Adjustable Rate Mortgage provides a specific fixed rate term before becoming an adjustable mortgage. An example: A 10/1 ARM is fixed for the first 10 years and then becomes a 1 year adjustable rate for the remaining term of the mortgage, thus giving you 10 years of security at a fixed […]
“While higher interest rates, slower growth, and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses.” These words in addition to the 8 minute speech, tanked the stock market and caused mortgage rates to go up since Friday, August 26th. Federal Reserve Chairman Jerome Powell: Thank […]
The Federal Reserve System (also known as the Federal Reserve or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics (particularly the panic of 1907) led to the desire […]
The overall costs of Lending has been on the rise for the last several months. With the latest Inflation Rate of 9.1%, this will cause the Federal Reserve to raise rates again and most likely more aggressively than previous rate hikes. We have come up with a SPECIAL program to relieve this stress! You can […]
We have been spoiled with mortgage rates over the last few years as we saw the the 30 Year Fixed Rate get to the 2.50% range. As we move forward in 2022, mortgage rates have already started to climb. Rates are in the 4.00% to 4.25% range and we now have to adjust our purchasing […]
Have you ever called a mortgage company and received a quote and then called back the next day and the same rate was no longer available?? Mortgage companies, Banks and Credit Unions are subject to potential daily and even hourly shifts in the market. Interest rates fluctuate on the simple principal of supply and demand. […]
Mortgage documents….not sure what that means? Not sure what’s being asked of you to provide for your loan application? The list of documents necessary to process your application is relatively short but it contains specific items that are needed. So, follow the steps/directions on the document checklist carefully and you will have a smoother and […]
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