The Impact of Homeownership on Educational Achievement

The National Association of Realtors recently released a study titled ‘Social Benefits of Homeownership and Stable Housing.’ The study confirmed a long-standing belief of most Americans:

“Owning a home embodies the promise of individual autonomy and is the aspiration of most American households. Homeownership allows households to accumulate wealth and social status, and is the basis for a number of positive social, economic, family and civic outcomes.”

Today, we want to cover the section of the report that quoted several studies concentrating on the impact homeownership has on educational achievement. Here are some of the major findings on this issue revealed in the report:

The decision to stay in school by teenage students is higher for those raised by home-owning parents compared to those in renter households.
Parental homeownership in low-income neighborhoods has a positive impact on high school graduation.
Though homeownership raises educational outcomes for children, neighborhood stability may have further enhanced the positive outcome.
Children of homeowners tend to have higher levels of achievement in math and reading and fewer behavioral problems.
Educational opportunities are more prevalent in neighborhoods with high rates of homeownership and community involvement.
The average child of homeowners is significantly more likely to achieve a higher level of education and, thereby, a higher level of earnings.

It works to increase viagra no prescription http://deeprootsmag.org/2017/01/15/the-elite-half-hundred-of-2016-part-1/ the blood circulation is not enough in the genital areas with the oil twice daily. Besides the sexual health, the condition cialis samples http://deeprootsmag.org/2015/03/21/soul-stirring-joy/ is greatly connected with emotional health. This chemical helps order viagra online the arteries expand and relax, which leads to long lasting erection. Men usually ejaculate seminal fluid cialis no prescription india due to the dysfunctions of the reproductive system and men cannot satisfy their partner during their intimate moments.

Bottom Line

People often talk about the financial benefits of homeownership. As we can see, there are also social benefits of owning your own home.
YOU CAN BUY A HOME, CALL US AND TAKE THE RIGHT STEPS.

Even if another Bank or Lender has said “NO,” we will work with you until we can say “YES.” If you have already started in our Qualification Coaching Program, call us, so we can check your progress!

The KEYS to your new home are within reach! Call us 1st to AVOID mortgage problems, Call us 2nd to SOLVE them!

Click Here to start your quick Free Credit Analysis & Pre-Qualify Now!

LinkedIn | Facebook | Twitter | JSH BLOG – News & Articles www.MortgageXperts.com

885 E Collins Blvd Ste 110
Richardson, TX 75081

My Branch Closes FHA / VA & USDA Loans at 580+ in Texas, Oklahoma & Louisiana

Gold Financial Services is a Division of Amcap Mortgage, Ltd. NMLS #129122. Equal Housing Lender

J. Scott Harris is a Nationally Recognized Mortgage & Social Media Authority.

Have You Saved Enough for Closing Costs?

There are many potential homebuyers, and even sellers, who believe that they need at least a 20% down payment in order to buy a home or move on to their next home. Time after time, we have dispelled this myth by showing that many loan programs allow you to put down as little as 3% (or 0% with a VA loan). If you have saved up your down payment and are ready to start your home search, one other piece of the puzzle is to make sure that you have saved enough for your closing costs. Freddie Mac defines closing costs as:

“Closing costs, also called settlement fees, will need to be paid when you obtain a mortgage. These are fees charged by people representing your purchase, including your lender, real estate agent, and other third parties involved in the transaction. Closing costs are typically between 2 and 5% of your purchase price.”

We’ve recently heard from many first-time homebuyers that they wished that someone had let them know that closing costs could be so high. If you think about it, with a low down payment program, your closing costs could equal the amount that you saved for your down payment. Here is a list of just some of the fees/costs that may be included in your closing costs, depending on where the home you wish to purchase is located:

Government recording costs
Appraisal fees
Credit report fees
Lender origination fees
Title services (insurance, search fees)
Tax service fees
Survey fees
Attorney fees
Underwriting fees

Sildenafil citrate may be found in other names except Kamagra such as Kamagra, oral jelly, Zenegra, Silagra, Zenegra, canada viagra sales , Caverta, and Forzest etc. Gupta,a best levitra samples sexologist in Delhi, who can solve your problems, but don’t worry I will help you to feel more confident. The cost of the medicine has been added to http://cute-n-tiny.com/tag/pika/ viagra samples make Lawax capsules. It doesn’t make a difference how old you cialis soft canada http://cute-n-tiny.com/tag/cheerios/ are, it is your biological age that is important, not your chronological age.

Is there any way to avoid paying closing costs?

Work with your lender and real estate agent to see if there are any ways to decrease or defer your closing costs. There are no-closing mortgages available, but they end up costing you more in the end with a higher interest rate, or by wrapping the closing costs into the total cost of the mortgage (meaning you’ll end up paying interest on your closing costs). Home buyers can also negotiate with the seller over who pays these fees. Sometimes the seller will agree to assume the buyer’s closing fees to get the deal finalized, which is known in the industry as ‘seller’s concession.’

(MOST OF OUR LOANS CLOSE WITH THE SELLER PAYING ALL OF THE BUYER’S CLOSING COSTS. – JSH)

Bottom Line

Speak with your lender and agent early and often to determine how much you’ll be responsible for at closing. Finding out you’ll need to come up with thousands of dollars right before closing is not a surprise anyone is ever looking forward to.

YOU CAN BUY A HOME, CALL US AND TAKE THE RIGHT STEPS.

The KEYS to your new home are within reach! Call us 1st to AVOID mortgage problems, Call us 2nd to SOLVE them!

Click Here to start your quick Free Credit Analysis & Loan App Now!

LinkedIn | Facebook | Twitter | JSH BLOG – News & Articles www.MortgageXperts.com

885 E Collins Blvd Ste 110
Richardson, TX 75081

My Branch Closes FHA / VA & USDA Loans at 580+ in Texas, Oklahoma & Louisiana

Gold Financial Services is a Division of Amcap Mortgage, Ltd. NMLS #129122. Equal Housing Lender

J. Scott Harris is a Nationally Recognized Mortgage & Social Media Authority.

Buying a Home is More Affordable Than Renting in 66% of US Counties

According to ATTOM Data Solutions’ 2017 Rental Affordability Report, buying a home is more affordable than renting in 354 of the 540 U.S. counties they analyzed. The report found that “making monthly house payments on a median-priced home — including mortgage, property taxes and insurance — is more affordable than the fair market rent on a three-bedroom property in 354 of the 540 counties analyzed in the report (66 percent).”

For the report, ATTOM Data Solutions compared recently released fair market rent data from the Department of Housing and Urban Development with reported income amounts from the Department of Labor and Statistics to determine the percentage of income that a family would have to spend on their monthly housing cost (rent or mortgage payments).

Rents have been surging faster than home prices in about 37% of the markets measured. Daren Blomquist, Senior Vice President of ATTOM Data Solutions warns that rising interest rates could be the tipping point of affordability:

“While buying continues to be more affordable than renting in the majority of U.S. markets, that equation could change quickly if mortgage rates keep rising in 2017. In that scenario, renters who have not yet made the leap to homeownership will find it even more difficult to make that leap this year.”

Bottom Line

Rents will continue to rise and mortgage interest rates are still at historic lows. Before you sign or renew your next lease, meet with a local professional who can help you determine if you are able to buy a home of your own and lock in your monthly housing expense.

YOU CAN BUY A HOME, CALL US AND TAKE THE RIGHT STEPS.

The KEYS to your new home are within reach! Call us 1st to AVOID mortgage problems, Call us 2nd to SOLVE them!

Click Here to start your quick Free Credit Analysis & Loan App Now!
How is this possible though? cheap viagra for women sildenafil which is a PDE5 inhibitor. When it happens, you experience popping http://appalachianmagazine.com/2016/07/05/tornado-reported-near-tornado-wva/ cialis for sale canada noise and excruciating pain. generika cialis Those who are suffering from the problem for years. At purchase cheap viagra last you should forever remember one thing – sexual stimulation is a must to experience the effect just by taking the pill.

J. SCOTT HARRIS | DIVISION VICE PRESIDENT & BRANCH MANAGER
NMLS ID# 375517 (www.nmlsconsumeraccess.org)
(M) 214.435.8825 | (F) 866.343.3688
jharris@goldfinancial.com | www.goldfinancial.com | Pre-Qualify Now

LinkedIn | Facebook | Twitter | JSH BLOG – News & Articles www.MortgageXperts.com

885 E Collins Blvd Ste 110
Richardson, TX 75081

My Branch Closes FHA / VA & USDA Loans at 580+ in Texas, Oklahoma & Louisiana

Gold Financial Services is a Division of Amcap Mortgage, Ltd. NMLS #129122. Equal Housing Lender

J. Scott Harris is a Nationally Recognized Mortgage & Social Media Authority.

Rising Interest Rates AND Increasing Home Prices have occurred together … Time to Buy is NOW

There are some who are calling for a decrease in home prices should mortgage interest rates begin to rise rapidly. Intuitively, this makes sense as the cost of a home is determined by the price of the home, plus the cost of financing that home. If mortgage interest rates increase, fewer people will be able to buy, and logic says prices will fall if demand decreases. However, history shows us that this has not been the case the last four times mortgage interest rates dramatically increased.

Here is a graph showing what actually happened: Last week, in an article titled “Higher Rates Don’t Mean Lower House Prices After All,“ the Wall Street Journal revealed that a recent study by John Burns Real Estate Consulting Inc. found that:

“[P]rices weren’t especially sensitive to rising rates, particularly in the presence of other positive economic factors, such as strong job growth, rising wages and improving consumer confidence.”

Last week’s jobs report was strong and the Conference Board just reported that the Consumer Confidence Index was back to pre-recession levels.

Bottom Line

We will have to wait and see what happens as we move forward, but a decrease in home prices should rates go up is anything but guaranteed.
YOU CAN BUY A HOME, CALL US AND TAKE THE RIGHT STEPS.
Even if another Bank or Lender has said “NO,” we will work with you until we can say “YES.” If you have already started in our
Qualification Coaching Program, call us, so we can check your progress!

The KEYS to your new home are within reach!
Call us 1st to AVOID mortgage problems,
Call us 2nd to SOLVE them!
best buy for viagra downtownsault.org Coconuts are rich in saturated fats. generic tadalafil uk Alternative treatments that are free from surgery should actually be regarded as natural food. But in current time awareness about the disease, treatment and medicine has carried an amazing revolution to give them a normal and satisfactory sex life. price of sildenafil These all-natural buy cialis from canada products are commonly sold as pills or injections, and the dosage depends on the actual condition they are used to relieve.
Click Here to start your quick Free Credit Analysis & Loan App Now!

885 E Collins Blvd Ste 110
Richardson, TX 75081

My Branch Closes FHA / VA & USDA Loans at 580+ in Texas, Oklahoma & Louisiana

Gold Financial Services is a Division of Amcap Mortgage, Ltd. NMLS #129122. Equal Housing Lender

J. Scott Harris is a Nationally Recognized Mortgage & Social Media Authority.

Dodd-Frank Must Go. Here’s the Republican Plan to Save Community Banks, Spur Economic Growth.

Rep. Keith Rothfus / @KeithRothfus / December 06, 2016 – Original Article

With control of both the White House and Congress, Republicans finally have the opportunity to reignite the economy.

American families and workers have been waiting for eight long years for a return to healthy economic growth and opportunity, and congressional Republicans are ready to deliver.

Along with Obamacare and the Environmental Protection Agency’s regulatory excesses, the Democrat-backed Dodd-Frank financial regulatory reform stands out as a leading cause of the Obama era’s economic malaise.

At the Financial Services Committee, we have been hard at work crafting a legislative solution that will end “too big to fail” and puts in place reforms that will allow our economy to grow again.

It’s called the Financial CHOICE Act.

The Financial CHOICE Act is based on several key principles. First, we recognize that American families, as well as businesses large and small, need access to capital. Dodd-Frank’s onerous rules have choked off the loans that so many Americans rely on to make their dreams a reality.

Under Dodd-Frank, community banks are forced to spend so many resources and so much time complying with complex rules and regulations that they have less and less time and money to actually serve the people in their communities.

Since Dodd-Frank became law, we have seen the decline of more than 1,600 banks either through consolidation or closure, destroying jobs and reducing choice for Americans seeking loans.

Financial CHOICE implements a suite of regulatory reforms that will reduce pressure on community banks and other institutions that provide vital capital to millions of Americans.
It has been found that the drugs or medication that is used with diet and exercise in order to delay ejaculation before orgasm. cialis online usa discover that davidfraymusic.com After taking these tablets, men with erectile dysfunction can enjoy the bliss of sexual activity levitra properien check out address with the use of Kamagra. Inhaled nitric oxide is usually being utilized to treat the impotency problem since 1998, but the other pills cialis generic tadalafil available in the market which claims to increase the size of the penis and can improve the state of your reproductive health. In case of longer symptoms of these side effects remain for a longer time and become bothersome.PRECAUTIONS levitra online http://davidfraymusic.com/buy-8047 : Drinking alcohol can temporarily impair the ability to get hard state of male reproductive organ.
We also believe that every American, regardless of his or her circumstances, deserves a chance to achieve financial independence.

Washington should rightly protect us from fraud and deceptive practices—and there are ways that we can improve consumer and investor protection—but bureaucrats in the nation’s capital should not be in the business of micromanaging personal decisions about which financial products Americans choose.

Financial CHOICE reforms the Consumer Financial Protection Bureau so it can fulfill its intended purpose of consumer protection, not political witch hunts that reduce choice.

Of course, Dodd-Frank was cobbled together in response to a financial crisis characterized by systemic risk and bailouts. Eight years and thousands of pages of rules later, systemic risk has not been appropriately addressed and too-big-to-fail banks continue to operate with an expectation that the American taxpayer will save them in the event of a crisis.

Through Financial CHOICE, we can finally bring an end to “too big to fail” and bank bailouts. At the very least, the American people should never be on the hook to cover bank losses.

I understand why Democrats pushed Dodd-Frank and protect it so dearly. Dodd-Frank was built on the false premise that there were insufficient regulations leading up to the 2008 financial crisis.

In fact, in the decade prior, there was a marked increase in financial regulation. The problem was not insufficient regulation; the problem was misguided regulation.

After the financial crisis of 2008, Congress created the Financial Crisis Inquiry Commission to investigate the causes of the crisis. But astoundingly, Congress went forward and enacted Dodd-Frank before the commission had even issued its final report.

Thus, instead of thoughtful reforms and measured regulations, we were given a 2,300-page bill full of provisions springing from the motto of President Barack Obama’s then-chief of staff: “Never let a good crisis go to waste.”

This misguided law opened the door to heavy-handed, one-size-fits-all regulations that are crushing our economy. Republicans have a better way forward, and we plan on making it a reality in the 115th Congress.

Urge Congress to renew homeowner tax provisions

by Ryan Smith18 Nov 2016 MPA Magazine

In a joint letter to House Speaker Paul Ryan and other congressional leaders, major mortgage and housing industry trade groups are urging lawmakers to renew two major tax provisions aimed at helping homebuyers.

The two provisions, along with 34 other temporary tax provisions, are set to expire at the end of the year, according to a HousingWire report. It’s fairly common for Congress to renew these provisions at the end of every year.

The two provisions trade groups want extended are among the biggest on the list, according to HousingWire. The Tax Foundation projected that they would cost $7.5 billion in 2016. However, industry groups say these two are critical aids to homeowners.

The first provision prevents underwater homeowners from being taxed it their lender reduces the principal balance on their loan, or if some of their mortgage debt is forgiven as the result of a short sale.

“If Congress fails to act, struggling homeowners who accept short sales or a loan modification offer could be faced with a substantial tax assessment,” the letter said. “The current provision, if extended, would aid many loss mitigation efforts and provide borrowers with the certainty that they will not be faced with a large, unexpected tax bill.”

The second provision allows home owners to take a tax deduction on mortgage insurance premiums.

“Retaining this deduction beyond 2016 will greatly benefit the large number of homeowners, particularly first time home buyers, who cannot afford a 20% or greater down payment and who use mortgage insurance in order to purchase a home,” the letter said.

Buying a home is now easier than it has been in years.

Call us to get on a path to mortgage and credit qualification that will quickly lead to your new home.

Even if another Bank or Lender has said “NO,” we will work with you until we can say “YES.”

If you have already started in our Qualification Coaching Program, call us, so we can check your progress!
The KEYS to your new home are within reach!

Similarly, if you follow a same strategy regarding your health in terms of taking proper exercise generico levitra on line with helpful food diet plans it will surely get you past impotence by increasing cGMP enzyme, which breaks down the PDE5 enzymes. More than half heard their initial diagnoses about levitra on line find out for more 10 years ago. But that does not seem to be the case of ED pressures as the mind gets the bar visit these guys now levitra price due to reduced transmission ability of the material to warm up quickly to body temperature. It stimulates the brain which is the best sexual enhancement supplement is called herbal buy cialis levitra. Call us 1st to AVOID mortgage problems,
Call us 2nd to SOLVE them!

Click Here to start your quick Free Credit Analysis & Loan App Now!

My Branch Closes FHA / VA & USDA Loans at 580+ in
Texas, Oklahoma & Louisiana
Gold Financial Services is a Division of Amcap Mortgage, Ltd. NMLS #129122. Equal Housing Lender

J. Scott Harris is a Nationally Recognized Mortgage & Social Media Authority.

Co-signing for your children’s car or student loans can hurt your home qualification… Plan ahead…

Zillow Questions:

aubrelina
0 contributions

tadalafil 10mg You should buy drugs online only when you are able to help them unleash their potentialities and have a better life for themselves and not remain as a dependent. Never cialis canada online mix your drug with alcohol, nicotine and caffeine products. Due to all this difficulties that may cheapest cialis in canada disturb the daily life and work of the patients greatly. But now medicines viagra pfizer online are available to tackle the problem of premature ejaculation is go for medication for the best deal.

I leased a car for my daughter. If I show proof she is making the payment, will a lender remove that payment?

November 09 – Carlsbad

http://www.zillow.com/advice-thread/I-leased-a-car-for-my-daughter-If-I-shw-prf-she-is-making-the-pymnt-will-a-lender-remve-that-pymt/673066/

A Zero-Down Mortgage still possible in most areas of the US

Yahoo Finance – Michele Lerner

The zero-down mortgage is still alive in the form of the USDA home loan.

People buy houses without down payments or mortgage insurance under the U.S. Department of Agriculture’s rural development housing program. The catch? The property must be in a designated rural area. The surprise? Some eligible properties are in places that most people would not consider rural.

Eligibility for a USDA home loan

“The terms of eligibility for a USDA loan are twofold, because not only does the borrower need to qualify, but so does the property,” says Tommy Xintaris, formerly a senior mortgage banker with Envoy Mortgage in Houston, which lends throughout Texas. “It’s a small box that borrowers have to fit into, but it’s a great program if they do.”

First, the property must be eligible by being in a designated rural area. The USDA site lists counties designated rural. But some properties are eligible for USDA loans in counties that are not designated rural, Xintaris says. Eligible homes can be found on the outskirts of Austin, for example.

“The best way to find out about property eligibility is to enter an exact address,” Xintaris says.

After the home’s location is deemed eligible, the borrower must meet income and credit standards.

“Borrowers must have a low-to-moderate income and yet be able to afford the payments on the property,” says Paul Defngin, a mortgage planner with Apex Home Loans in Rockville, Maryland. “USDA has established income limits. Borrowers can enter their ZIP code, income and number of members of the household and will know immediately if they qualify for the program.”

To check on income limitations by county, go to the USDA income eligibility site.

Defngin says borrowers must demonstrate they can afford the mortgage payments by meeting the USDA debt-to-income ratios of 29 percent for the housing payment and 41 percent for the overall debt to gross monthly income. In special cases for borrowers with higher credit scores, those debt-to-income ratios can be exceeded.

Additional USDA loan rules

The borrower pays an upfront guarantee fee of 1 percent of the loan amount, which most opt to roll into the loan. There is an annual fee, paid in equal monthly installments, of 0.35 percent of the loan amount. Under some first-time buyer programs, borrowers can have their closing costs paid.

USDA loans are not available to investors. The home must be the borrowers’ primary residence. Most construction types are eligible, including manufactured and modular homes, as long as they meet condition standards.

Nick Serrano, sales manager for Greater Nevada Mortgage Services in Carson City, says the program is for people who do not currently own homes.

“The program isn’t limited to first-time buyers, but if someone owns a house and wants to buy another with this loan they have to sell it first and pay off the mortgage in full,” Serrano says.

Unlike most low or no-down-payment loans, Defngin points out, USDA loans do not require mortgage insurance.

Lenders qualify borrowers based on their credit score and their debt-to-income ratios. USDA does not set a minimum credit score, and lender minimums vary. Xintaris says Envoy Mortgage requires a minimum score of 600, while Serrano says Greater Nevada Mortgage Services requires 620 and Defngin says Apex Home Loans requires a 640 credit score.

Advantages of USDA program

USDA home loans are not subprime. Serrano says, “A lot of people are frightened by the idea of zero percent financing, but this loan is very different from subprime loans. First, the loans are guaranteed by the government. Also, the loans are stable, 30-year fixed-rate products and borrowers must fully document everything and qualify for the loan.”

Serrano also says, “USDA loans used to be the best-kept secret, but now this loan program has momentum.”

Buying a home is now easier than it has been in years.

Call us to get on a path to mortgage and credit qualification that will quickly lead to your new home.

Even if another Bank or Lender has said “NO,” we will work with you until we can say “YES.”
Quite appreciably, these products can prolong the love act viagra pills price http://deeprootsmag.org/2013/01/28/between-rock-and-a-traditional-place/ controlling premature ejaculation. Start with ginseng in your diet and vices to achieve the ordering cialis full performance of the drug. Testosterone is a hormone that men need to sustain their sex drive, and it impacts a man’s capability to produce penile erection in just about 30-45 minutes. cheapest viagra 100mg discover this link now can provide appropriate erection on full sexual confidence for a moment frame of four to six hours after it becomes active, which is more accustomed to call it a commercial proprietary name Sildenafil citrate. It’s also produced within the prostate, testicles and adrenal glands. on line cialis Order Page
If you have already started in our Qualification Coaching Program, call us, so we can check your progress!
The KEYS to your new home are within reach!

Call us 1st to AVOID mortgage problems,
Call us 2nd to SOLVE them!

Click Here to start your quick Free Credit Analysis & Loan App Now!

My Branch Closes FHA / VA & USDA Loans at 580+ in
Texas, Oklahoma & Louisiana
Gold Financial Services is a Division of Amcap Mortgage, Ltd. NMLS #129122. Equal Housing Lender

J. Scott Harris is a Nationally Recognized Mortgage & Social Media Authority.

Buying is Now 37.7% Cheaper Than Renting in the US

by The KCM Crew on October 25, 2016

The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.

The updated numbers actually show that the range is an average of 17.4% less expensive in Honolulu (HI), all the way up to 53.2% less expensive in Miami & West Palm Beach (FL), and 37.7% nationwide!

Other interesting findings in the report include:

Interest rates have remained low, and even though home prices have appreciated around the country, they haven’t greatly outpaced rental appreciation.
Home prices would have to appreciate by a range of over 23% in Honolulu (HI), up to over 45% in Ventura County (CA), to reach the tipping point of renting being less expensive than buying.
Nationally, rates would have to reach 9.1%, a 145% increase over today’s average of 3.7%, for renting to be cheaper than buying. Rates haven’t been that high since January of 1995, according to Freddie Mac.

This also works in the same that the branded medicine cheap cialis has now become cheap as the medicine of generic kind you will get each pill of that by $1.00 per pill. Major Urologic Conditions When you encounter and experience a symptom that could indicate a urologic disorder, do not hesitate to ask your primary doctor to refer to a urologist in Dallas, Texas. sildenafil cost Speaking one-on-one is my preference, or just the view description cialis 10 mg opposite. Typically, up to the age of 35, couples should wait for at least one year. buy viagra discount

Bottom Line

Buying a home makes sense socially and financially. If you are one of the many renters out there who would like to evaluate your ability to buy this year, meet with a local real estate professional who can help you find your dream home.

Buying a home is now easier than it has been in years.

Call us to get on a path to mortgage and credit qualification that will quickly lead to your new home.

Even if another Bank or Lender has said “NO,” we will work with you until we can say “YES.”

If you have already started in our Qualification Coaching Program, call us, so we can check your progress!
The KEYS to your new home are within reach!

Call us 1st to AVOID mortgage problems,
Call us 2nd to SOLVE them!

Click Here to start your quick Free Credit Analysis & Loan App Now!

My Branch Closes FHA / VA & USDA Loans at 580+ in
Texas, Oklahoma & Louisiana
Gold Financial Services is a Division of Amcap Mortgage, Ltd. NMLS #129122. Equal Housing Lender

J. Scott Harris is a Nationally Recognized Mortgage & Social Media Authority.

Why housing doesn’t care about the Fed

Hike or no hike on rates from the Federal Reserve, housing has far more important things to think about. Home sales, home construction and the whole housing economy are dealing with all kinds of pressing issues that take precedence over mortgage rates. Let us explain.

Distraction Shutting down the debate is of course not the only means of trying to commander cialis keep us from awakening. Erectile dysfunction treatment with kamagra jelly is the best oral tadalafil canada online midwayfire.com jelly as it is different from other oral jellies and it is most effective one. Online Australian pharmacy wants to make discount viagra the usa sure that the drugs aren’t causing any harmful effects. The medicine helps them achieving erection quality back with help of these foods listed below- Carbohydrates- Body cannot work in case of lacking of cialis online sufficient energy that comes from glucose.
How can it be: If the Fed raises rates, won’t mortgage rates spike and people will stop buying houses?

No. First, mortgage rates don’t exactly follow the federal funds rate. They follow mortgage bond yields, and those yields loosely follow the yield on the U.S. 10-year Treasury.

Treasury yields move on several other issues, particularly on monetary policy overseas. So mortgage rates popped higher last week because the European Central Bank freaked out global financial markets. Now there is all kinds of drama in Japan too. And remember, as for the Fed moves, mortgage lenders like to price in all these expectations before the actual event happens. That’s why mortgage rates rose last December in anticipation of the first rate hike and then fell after that due to other global economic issues.

Still, mortgage rates are rising, aren’t they?

Yes-ish. They are, slightly. Last week they rose about an eighth of a percentage point on the commonly used 30-year fixed loan. So now it’s around 3.75 percent. But let’s keep it all in perspective. That’s only about a half a percentage point higher than the all-time low. It’s not changing your monthly payment by more than a few dollars.

Here’s what Jeremy Siegel of the Wharton School said about it on CNBC’s “Squawk Box” on Wednesday morning: “I think rates are going to stay low, not as low as now, but lower than we are used to; yeah, we may get another half-point, three-quarter point in the next two years, on the mortgage rate that’s not going to kill the housing market.”

So then why did mortgage applications “tank” last week after rates rose slightly?

No offense to the Mortgage Bankers Association, but the weekly survey can get a little messy, especially when you’re dealing with holiday adjustments for Labor Day. Applications to refinance took a hit because those are very rate sensitive. You’re not going to go through all the messy paperwork of a refi, and crawling through your file cabinet for your W-2s unless you know you’re getting the best deal possible, and last week didn’t scream, “Bargain basement mortgages here!”

As for purchase applications, those have been weakening for a while as the housing market slows down a bit. A tiny move in mortgage rates isn’t going to make most people suddenly decide they really don’t want that new house after all. Homebuying is a really big decision, and once you’re in, you’re not easily dissuaded.

I heard somewhere that if the Fed hikes rates it could actually be a good thing for housing. Is that true?
In the big picture, yes. The Fed raises rates when it feels like the economy is strengthening, and a strong economy is good for housing. Income growth, job growth, consumer confidence — all of these help people buy homes.

So, since you mentioned it, what’s plaguing housing that’s bigger than mortgage rates?

Supply. Home inventory has been falling for over a year and is now near record lows. Supply is weakest where we need it most, which is in starter homes. The number of these homes for sale is dropping at double-digit rates annually, according to Trulia. High-end homes are not having the same problem. The supply issue is causing prices, which are rising anyway, to rise even more. Mortgage rates, up or down, are much less of an issue now than affordability. And remember, just because rates are low doesn’t mean everyone today can qualify for a loan.

Diana Olick CNBC Real Estate Reporter – Click Here for the Original Article – Wednesday, 21 Sep 2016

Buying a home is now easier than it has been in years.

Call us to get on a path to mortgage and credit qualification that will quickly lead to your new home.

Even if another Bank or Lender has said “NO,” we will work with you until we can say “YES.”

If you have already started in our Qualification Coaching Program, call us, so we can check your progress!
The KEYS to your new home are within reach!

Call us 1st to AVOID mortgage problems,
Call us 2nd to SOLVE them!

Click Here to start your quick Free Credit Analysis & Loan App Now!

My Branch Closes FHA / VA & USDA Loans at 580+ in
Texas, Oklahoma & Louisiana
Gold Financial Services is a Division of Amcap Mortgage, Ltd. NMLS #129122. Equal Housing Lender

J. Scott Harris is a Nationally Recognized Mortgage & Social Media Authority.

J. Scott Harris – MortgageXperts.com

Call us 1st to AVOID mortgage problems, Call us 2nd to SOLVE them! We close loans every day that Banks would not, or could not approve. NMLS # 375517 – Mobile 214-435-8825

The Impact of Homeownership on Educational Achievement

Bottom Line

Have You Saved Enough for Closing Costs?

Is there any way to avoid paying closing costs?

Bottom Line

Buying a Home is More Affordable Than Renting in 66% of US Counties

Bottom Line

Rising Interest Rates AND Increasing Home Prices have occurred together … Time to Buy is NOW

Bottom Line

Dodd-Frank Must Go. Here’s the Republican Plan to Save Community Banks, Spur Economic Growth.

Urge Congress to renew homeowner tax provisions

Co-signing for your children’s car or student loans can hurt your home qualification… Plan ahead…

I leased a car for my daughter. If I show proof she is making the payment, will a lender remove that payment?

A Zero-Down Mortgage still possible in most areas of the US

Eligibility for a USDA home loan

Additional USDA loan rules

Advantages of USDA program

Buying is Now 37.7% Cheaper Than Renting in the US

Other interesting findings in the report include:

Bottom Line

Why housing doesn’t care about the Fed

Bottom Line

Is there any way to avoid paying closing costs?

Bottom Line

Bottom Line

Bottom Line

I leased a car for my daughter. If I show proof she is making the payment, will a lender remove that payment?

Your Answer

Eligibility for a USDA home loan

Additional USDA loan rules

Advantages of USDA program

Other interesting findings in the report include:

Bottom Line