How to Shop for a Mortgage

After hitting record lows of 3.250% last year, mortgage rates have inched up a little and in the grand scheme of things…it is only a little!  The trend of course is upwards and like the stock market, it is not a straight line up, we have good days and bad days in the markets and MortgageContinue reading “How to Shop for a Mortgage”

FHA to increase fees…Again!!

FHA is once again increasing mortgage insurance premiums (MIP) on all new purchase and refinance transactions. Effective for FHA loans that have been assigned on or after June 3, 2013 and in addition to this increase, the Annual Mortgage Insurance Premium will remain for the life of the loan. Meaning, you can only remove theContinue reading “FHA to increase fees…Again!!”

What is a Business Cycle?

The “Books” say an average business cycle is 44.4 months and we have lived through many of them. Some longer than that and some as short as a season in New England.  A business cycle is like the exhibit from our youth…“What makes an ocean wave, wave” at the New England Aquarium.  In the exhibit,Continue reading “What is a Business Cycle?”

FHA to Increase Fees Once Again…

Effective April 1st…funny April Fool’s joke….NOT!  FHA announced this past Monday that the cost of government-insured mortgages will increase slightly for some new homebuyers.  The rise in up-front fees on mortgages was deemed necessary to build up dwindling capital. FHA is increasing what is known as the Upfront Mortgage Insurance Premium “Upfront MIP” from 1.00%Continue reading “FHA to Increase Fees Once Again…”

Homebuyer Turnoffs: 6 Mistakes Sellers Must Avoid

Now more than ever with so many homes on the market for sale, the seller must take action to ensure their house stands out from all the rest.  Avoid these six mistakes that are potential turn-offs for buyers which could lead to losing a sale.        Mistake #1 – No listing photos Many buyersContinue reading “Homebuyer Turnoffs: 6 Mistakes Sellers Must Avoid”