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27 Dec 2021
By noelkelman

What’s Ahead For Mortgage Rates This Week – December 27, 2021

Financial Reports, ,
Last week’s scheduled economic reporting included readings on sales of new and previously-owned homes along with weekly data on mortgage rates and jobless claims. Home Sales Increase in November Sales of new and previously-owned homes rose in November. The Commerce Department reported sales of new homes rose to 744,000 sales on a seasonally-adjusted annual basis. October sales of new homes were revised to a year-over-year reading of 662,000 new homes sold, which was the lowest reading since the worst stage of the pandemic in April 2020.  Analysts expected a year-over-year reading of 766,000 new homes sold for November. The median…
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22 Dec 2021
By noelkelman

The ‘Debt to Income’ Ratio and How It Affects Your Home Purchase

Mortgage Tips, ,
The real estate market is rife with terminology that can make a home purchase seem more than a little complicated. If you're currently looking for a home and are considering your loan options, you may have even heard the term 'Debt to Income' ratio. In the interest of simplifying things, here are some insights on what this term means and how it can impact your home investment. Determining Your 'Debt to Income' Ratio It's important to consider what exactly your DTI ratio is before your home purchase as this will quickly determine how much home you can actually afford. To…
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21 Dec 2021
By noelkelman

What’s Ahead For Mortgage Rates This Week – December 21, 2021

Financial Reports, ,
Last week’s economic reports included readings from the National Association of Home Builders on housing markets and the monthly post-meeting statement from Federal Reserve policymakers. Fed Chair Jerome Powell also gave a press conference. Weekly readings on mortgage rates and jobless claims were also published. Builder Confidence in Housing Markets Rises by One Point in December Homebuilder confidence in current national housing market conditions rose one point to an index reading of 84 in December and met analysts’ expectations. December’s reading was the highest since February. Component readings for the National Association of Home Builders Housing Market Index were lower…
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17 Dec 2021
By noelkelman

It’s Not Just Car Storage: How to Transform Your Garage into a Brand New, Highly Usable Space

Around The Home, ,
In some homes, garages are used only for car storage. They may appear to be bare and without real functional use for homeowners. However, other garages may be an envy of the neighborhood - they may have floor to ceiling shelving systems, and they may be the picture-perfect image of organization. With a bit of planning and creativity, you can turn your garage into a much more functional space. Here's how you can make your garage the most useful space in the house. Determine What You Need To Store One of the most important steps to take when improving the…
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16 Dec 2021
By noelkelman

Thinking About Downsizing? Here’s What You Need to Know About Life in a Condo

Home Buyer Tips, ,
The shift from home living to condo life may seem like a minor one, but there are plenty of things that will differentiate your lifestyle other than size when it comes to making a condominium purchase. If you're contemplating this move and wondering about some of the things that this might entail, here are a few factors that are worth considering. The Fees You'll Have to Pay While a smaller condo is unlikely to have the same associated costs as a large home, you will be paying a monthly condominium fee that will be covering maintenance and insurance so that…
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15 Dec 2021
By noelkelman

How Long To Save Mortgage Documents

Mortgage, ,
Purchasing a house involves a tremendous amount of paperwork. There is even more paperwork involved if the buyer goes through a lender. With so much paperwork, some homeowners might be wondering how long they have to keep all of these documents. Ideally, homeowners should keep these documents for the life of the loan, but there are a few other points to consider.  What Documents Come With The Home? Even though the exact documents that come with the home can vary depending on the type of purchase, there are a few common pieces of paper. The deed is one of the…
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14 Dec 2021
By noelkelman

Housing Needs May Change Following Retirement

Mortgage, ,
Life has changed for a lot of people during the past few years. Some people reached retirement age while other people decided to retire early due to other reasons. As the baby boomer generation reaches retirement age, millions more people are going to retire during the next few years. As a result, they might be thinking about moving to make some of their dreams come true. At the same time, retirement might change what people need in a home. What are some of the most important factors retirees need to consider when looking for a home?  Moving Closer To Loved…
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13 Dec 2021
By noelkelman

What’s Ahead For Mortgage Rates This Week – December 13. 2021

Financial Reports, ,
Last week’s economic reporting included readings on job openings and quits, month-to-month and year-over-year readings on inflation,  and the University of Michigan’s preliminary consumer sentiment survey for December. Weekly readings on mortgage rates and jobless claims were also released Job Openings Increase as Quits Decrease as Inflation Remains High The U.S. Labor Department reported that workers quit their jobs at record levels in October as job openings rose to 11 million openings as compared to expectations of 10.6 million job vacancies, which matched September’s reading for job openings. Fewer people quit jobs in October as 4.2 million workers left their…
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