Blog – Page 639 of 820

22 Dec 2015

3 Things That Will Absolutely Kill Your Chances for a Mortgage Approval

Home Mortgage Tips

If you're about to seek approval for a mortgage, you'll want to ensure you have a solid credit score and clean financial records to boost your likelihood of being approved. There are certain characteristics that lenders want to see in a mortgage applicant before they agree to give a loan, and you want to prove that you're a responsible borrower. But certain behaviors can easily tank your application and crush your home ownership dreams. Before you seek approval, make sure your finances are in order. Avoid these three mortgage-killing habits while your lender evaluates your loan and you'll quickly find…

21 Dec 2015

By Mark Feder

What’s Ahead For Mortgage Rates This Week – December 21, 2015

Market Outlook

Last week's scheduled economic reports included the NAHB Housing Market Index, Housing Starts, FOMC statement and Fed Chair Janet Yellen's press conference. In addition to weekly reports on jobless claims and mortgage rates, inflation reports were also released. Builder Confidence Slips, Housing Starts Increase According to the NAHB / Wells Fargo Housing Market Index for December, home builder confidence slipped by one point to a reading of 61 as compared to an expected reading of 63 and November's reading of 62. December's reading was three points higher year-over-year. Readings over 50 indicate that more builders than fewer are confident about…

18 Dec 2015

By Mark Feder

Video: What Steps Need To Be Taken To Secure A Loan

Mortagage Tips

What Steps Need To Be Taken To Secure A Loan You’ll see some pictures in this video to help you remember later, but the first step in securing a loan is to complete a loan application. To do so, you'll need the following information. Pay stubs for the past 2-3 months. W-2 forms for the past 2 years. Information on long-term debts. Recent bank statements tax returns for the past 2 years. Proof of any other income. Address and description of the property you wish to buy. A sales contract on the home you want to buy. During the application…

17 Dec 2015

By Mark Feder

Federal Reserve Raises Short-Term Interest Rates

Market Outlook

After prolonged speculation by economic analysts and news media, the Federal Open Market Committee of the Federal Reserve raised short-term interest rates for the first time in seven years. Committee members voted to raise the target federal funds rate to a range of 0.25 to 0.50 percent from a range of 0.00 to 0.25 percent to be effective December 17. The good news about the Fed's decision is that the Central Bank had enough confidence in improving economic conditions to warrant its decision. But how will the Fed's decision affect mortgage rates?December's FOMC statement cited improving job markets, increased consumer…