Blog – Page 692 of 785

24 Jul 2014

Can One Missed Mortgage Payment Affect Your Credit Rating? Yes! Here’s What to Do if You Miss One

Home Mortgage Tips

Most people don't know whether or not a single missed mortgage payment can have serious consequences for their credit score. The good news is that there are things that can be done to mitigate the damage and help anyone who has missed a payment repair their credit. What are some options to help homeowners get back in the good graces of their creditors? Own Up To The Mistake The best thing to do is to admit that the payment was missed and immediately make amends for it. For the most part, mortgage lenders are sympathetic to the fact that people…

23 Jul 2014

By Mark Feder

National Association of REALTORS Existing Home Sales Exceed Projections

Real Estate

According to the National Association of REALTORS®, existing home sales surpassed both May sales and expectations for June. Sales of previously owned homes increased by 2.60 percent in June and reached a seasonally adjusted annual level of 5.04 million sales. June's reading was the third consecutive monthly increase in sales of existing homes and was the highest reading for existing home sales in eight months. Existing home sales remain 2.30 percent below the June 2013 reading of 5.16 million sales of existing homes. Analysts projected sales of 5 million existing homes for June against May's initial reading of 4.89 million…

22 Jul 2014

By Mark Feder

Is Now the Time to Consider a 15-Year Mortgage? Five Reasons to Give the 15Y Another Look

Home Mortgage Tips

A 15-year fixed mortgage is, as its name suggests, a mortgage that's paid off after 15 years. Since it amortizes fully, after that amount of time you won't have to pay anything else. This type of mortgage has a lot of benefits, and below we'll share just a few of them. 1) No Need For Payments After Retirement Here it highly depends on when in life you choose to take on the mortgage. However, most people decide to take on a mortgage at around 30 years of age. If this is the case for you, then it means you'll be…

21 Jul 2014

By Mark Feder

What’s Ahead For Mortgage Rates This Week – July 21, 2014

Market Outlook

Last week's economic news offered a variety of indications that the economic recovery continues, but some readings missed their expected levels. The Philadelphia and New York branches of the Federal Reserve Bank reported higher than anticipated manufacturing for their respective regions and new jobless claims were lower than expected. Fed Chair's Senate Testimony Hints at Coming Interest Rate Hike Federal Reserve Chair Janet Yellen testified that the Fed might have to raise interest rates sooner than expected if the economy continues to outperform the Fed's projections. Ms. Yellen said that the central bank presently estimates that the first rate increases…