Mortgage rates have made a terrible start to 2013, and that may be just the start. For today’s home buyers and rate shoppers, their predictions may be a signal to “buy now”. The longer you wait, they say, the more your should expect to pay on your mortgage. Read the rest of this entry
I ran across this article this week after the election and thought it would be of interest:
Mortgage rates along with the financial markets in general are experiencing significant volatility in the aftermath of the US elections. While we know who will be President and the makeup of Congress we are now facing the urgency of getting things done in light of the impending tax increases and automatic spending increases known as the fiscal cliff. On top of that is a looming debt ceiling crisis and worsening economic conditions in Europe. Today rates appear to be headed slightly higher based on early trading. Why? Read the rest of this entry
How Much Home Can You Afford?
Among the most common questions from a home buyer is “How much home can I afford?” The answer, however, like many things, is that “it depends”. There are no concrete rules for how much home you can afford, or how big your mortgage should be. This is because the way that a mortgage lender calculates your maximum purchase price will be different from how you would calculate it yourself. Let’s look at both approaches to home affordability. Read the rest of this entry
By Kara’s Guest Blogger, Judy Martel · Bankrate.com
It might seem like an insurmountable task, but paying off your mortgage early can be done. The question is, should you? The answer depends on many factors, including other household debt, investments, mortgage rates and age of the homeowners. But for those in the position to do so, the satisfaction of ditching a long-term debt is hard to beat. Read the rest of this entry