Along with routine monitoring of local and national Real Estate market data, we closely follow changes in home loan trends, lending regulations and most notably mortgage interest rates, since developments in the mortgage industry directly affect our clients, both home buyers and home sellers. The sharply rising rates spouted in many ominous predictions for 2019,… Read More
Friday saw a slight rise in mortgage rates but it appears to be only a blip in this year’s trending rate declines. The conventional 30-year fixed closed Friday at an average of 4.25%, with FHA backed financing and the VA mortgage both stalled around 4%. Early in January, it was anticipated that rates for home… Read More
Home Buyers are never quite sure of the precise moment to lock in their interest rate. Quite frankly, I’m not sure you’ll find a better time than now. Thought the Spring home buying season is right around the corner, home prices seem to be fairly stable, by which I mean we’re experiencing a normal rise… Read More
First-time home buyers often have an issue with their credit score, not because it’s bad but because it’s non-existent. No worries you’re not alone, somewhere close to 50 million adults do not have a credit score. Nevertheless, an acceptable credit score is crucial if you plan on applying for a mortgage. Before you begin the… Read More
When you’re shopping for a low mortgage interest rate, keep in mind that widely advertised rates for home loans are usually designed for home buyers with “very good” to”excellent” credit scores. — Understanding Your Credit Score — That’s not meant to imply that you can’t get a mortgage if you have a “fair” credit rating,… Read More
Though the luxury housing market nationwide has experienced a resurgence in the past year, an article written by Inman News and re-posted on the WFG Title Company blog describes a recent rise in inventory within the luxury market, which in many cases has resulted in a noticeable slowdown of price increases and a general loss… Read More
The Greater Phoenix Valley has not quite reached the frenetic pace of Realtor.com’s Top 10 Cities Selling Above Asking Price, but we could be getting close. I rather hope not. I’m not sure activity in our market could be defined as ‘Bidding Wars’ yet. Multiple offers in the East Valley are common in lower price… Read More
Unemployment statistics are promising but it may not be what you think. So far this year, job growth has actually been slower than anticipated, yet employment numbers continue to drop… more on the reason for that below. So what does this mean for our Real Estate market? Higher unemployment was one of the main factors… Read More
There’s a bit of a fracas brewing in Arizona’s Real Estate market but that’s nothing unusual for this time of year, in fact Arizona perfectly reflects similar activity throughout the country. Low resale inventory, sluggish turn-times for New Construction homes, low interest rates gradually evaporating, and a steady stream of home buyers entering the market… Read More
Refinances down but new mortgages are up. I’m not at all convinced that the recent indifference toward mortgage refinancing has anything to do with rising interest rates. I’m more inclined to assume that because low mortgage rates have been around for an extended period of time, most everyone who wanted to refi has already done… Read More
