14 Nov 2023
By Mark Feder

Speed Your Mortgage Approval up by Following This Checklist

Mortgage Application
Have you finally found your dream home after months of searching, and then you are told that the seller has received other offers? No buyer wants to find themselves in a bidding war against another buyer as it is a stressful situation. Being unprepared and not having your finances in order will make it even more stressful. Here are a few quick ways if you're looking to speed up your mortgage approval process, here's a checklist to help you prepare: ·        Review your credit report: Maintain a good credit score by paying bills on time, reducing existing debt, and avoiding…
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13 Nov 2023
By Mark Feder

Which Big Tax Breaks Are Available From Home Credits

Taxes
There are several big tax breaks available from home credits that can help homeowners save money on their taxes. Here are some notable examples: Mortgage Interest Deduction: This is one of the largest tax breaks for homeowners. You can deduct the interest paid on your mortgage loan, up to a certain limit, as an itemized deduction on your federal income tax return. The Tax Cuts and Jobs Act of 2017 reduced the mortgage interest deduction limit for new mortgages, but it still remains a significant tax break for many homeowners. Property Tax Deduction: Homeowners can deduct the amount they pay…
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12 Nov 2023
By Mark Feder

What’s Ahead For Mortgage Rates This Week – November 13, 2023

Financial Reports
The week following the FOMC rate decision meetings are typically very light, with the two most influential releases being the University of Michigan Consumer Sentiment and the weekly Job Claims reports. The more positive news is mortgage lending rates have been on the decline in the last two weeks. Consumer Credit Reports Consumer sentiment fell in November for the fourth month in a row due to tensions with the Middle East and there is lingering hawkishness from the Federal Reserve, which could spell continued rate hikes in the future. The preliminary reading of the sentiment survey declined to 60.4 from…
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06 Nov 2023
By Mark Feder
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What’s Ahead For Mortgage Rates This Week – November 6, 2023

Financial Reports
The most important data of the quarter was released, signaling the direction for many markets and where economic policy may be headed. Jerome Powell as well as other members of the Federal Reserve spoke about the state of economic policy, informing many parties about their decisions to remain hawkish or dovish in their approach. Further rate hikes could tell a story that inflation is not yet under control and the Federal Reserve feels the need to continue these rate hikes, which will have a significant impact on the lending markets as a whole. FOMC Rate Decision While Fed Chair Jerome…
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