18 Nov 2024
By noelkelman

What’s Ahead For Mortgage Rates This Week – November 18th, 2024

Financial Reports, ,
With the release of the latest CPI and PPI data, inflation has increased month-to-month for the first time since March, marking the first rise in over seven months. The Federal Reserve has reiterated its goal of reducing inflation to a 2% target within a year. While this development doesn't necessarily indicate an imminent interest rate hike, it suggests that current rates may remain unchanged for an extended period. Earlier optimism about a potential rate cut by the end of the year has significantly diminished in light of recent inflation figures and economic data. However, Retail Sales data presents a more…
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15 Nov 2024
By noelkelman

Understanding the Difference Between Mortgage Brokers and Mortgage Lenders

Home Buyer Tips, ,
When you’re ready to buy a home, one of the first steps is securing a mortgage. While many people simply turn to their current bank for a loan, there are other options to consider that might provide better rates and terms for your situation.  This is where understanding the difference between a mortgage broker and a mortgage lender can help. Both play essential roles in the home loan process, but they function in very different ways. Let’s break it down so you can determine which path might work best for you when seeking mortgage financing. What is a Mortgage Lender?…
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14 Nov 2024
By noelkelman

How Women Can Navigate the Path to Ownership with Confidence

Mortagage Tips, ,
In recent years, single women have emerged as a powerful force in the real estate market, breaking barriers and taking control of their financial futures. According to recent data, single women now own more homes than single men, with nearly 20 million women homeowners in the U.S., representing a growing trend of resilience and empowerment. This surge in homeownership among women has come even in the face of economic challenges, including the financial fallout of the pandemic. Whether you're already envisioning your dream home or just starting your search, navigating the homeownership journey as a single woman comes with unique…
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13 Nov 2024
By noelkelman

Understanding the Components of Your Monthly Mortgage Payment

Mortgage, ,
If you’re new to homeownership, you might be wondering exactly what makes up the mortgage payment you’re sending each month. Beyond just the loan amount itself, there are several different components that all factor into your monthly mortgage payment. Understanding these components not only helps you see where your money is going but can also assist you in optimizing your mortgage and possibly securing a better rate. 1. Principal The principal is the amount of money you originally borrowed to purchase the home. It represents the bulk of your loan balance and is paid down over the term of your…
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12 Nov 2024
By noelkelman

What’s Ahead For Mortgage Rates This Week – November 12th, 2024

Financial Reports, ,
Big inflation reports for the coming week with both CPI and PPI on the schedule. We should expect the data to remain within expectations given the latest reports from both the PCE Index and GDP estimates. The Federal Reserve has still remained hawkish and the last rate decision the expectation is the current rates should maintain. However with the inflation being very close to the Federal Reserve’s target inflation rate and the expected “soft landing” on the horizon. The outlook is optimistic for another round of rate cuts in future. Federal Reserve Rate DecisionIn the face of slowing inflation and…
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11 Nov 2024
By noelkelman

Supporting Veterans on Their Path to Homeownership And Honoring Our Heroes

Holidays, ,
As we take time to honor Veterans Day, we extend our deepest respect and gratitude to the brave men and women who have served our country in uniform. Veterans Day is more than a day of remembrance; it is a chance to reflect on the sacrifices made by those who have protected the freedoms we cherish and to recognize the resilience, dedication, and strength they embody. For us in the mortgage industry, this day holds special meaning. Many veterans and their families have sacrificed so much to ensure the security of others. It is our privilege and duty to provide…
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08 Nov 2024
By noelkelman

How Mortgages Compare To Other Loans

Mortagage Tips, ,
Planning to buy a home, finance a car, or cover unexpected expenses? Many loan options exist to help you achieve your financial goals, but choosing the right one can be challenging. Here’s a breakdown of the most popular types of loans, their unique characteristics, and what you need to know to make the best choice for your financial future. Different Types of Loans There are several types of loans, each designed to meet different needs: Mortgages: Secured loans used for purchasing real estate. Mortgages typically come with lower interest rates and extended terms (15–30 years) because they use the property…
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07 Nov 2024
By noelkelman

What Are Your Options When Funding Your Down Payment?

Home Mortgages, ,
Buying a home is a big milestone, and for many, saving for a down payment can feel like a major hurdle. Fortunately, there are several ways to make that down payment happen. Whether through savings, family gifts, 401(k) funds, or even second mortgages, understanding your options is key to making the best financial choice. Let’s break down each of these options so you can explore what works best for you. 1. Family Gifts for a Down Payment For many homebuyers, especially first-time buyers, gifted money from family members is a valuable resource. However, lenders have specific guidelines about gift funds,…
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