Borrower Tips
You’ll Get The Best Mortgage Rates If You Watch Certain Patterns
When it comes to mortgage rates, sometimes it’s better to “act now”. On Tuesday, mortgage rates fell to their lowest levels in 4 years. It happened because the Fed said it would “employ all available tools” to resuscitate the economy. On Wednesday, however, the markets had second thoughts. After considering the long-term implications of a [...]
Get Extra Tax Deductions In 2008 — Pay Your Mortgage A Few Days Early
For most Americans, mortgage interest paid on a home loan is tax-deductible in the year in which it was paid. With advance planning, therefore, homeowners can increase their 2008 tax deductions and limit their tax liability on April 15. The key is to make the January 2009 mortgage payment before the New Year begins. In making the [...]
How November’s 533,000 Jobs Lost Is Helping Mortgage Rates Improve
According to the government, American businesses are cutting staff at an accelerated pace, most recently paring 533,000 jobs this past November. It’s the largest one-month decline since December 1974 and raises the year-to-date job losses to 1.9 million workers. However, there is a silver lining in the data for all Americans — both employed and [...]
The Truth About Those “4.500 Percent Mortgage Rates” You Keep Hearing About
Business television is abuzz this morning with talk of “four-point-five percent mortgage rates”; the clip above ran on NBC Today. The news stems from a leaked story that the U.S. Treasury will intervene in the mortgage market, lowering rates a full percentage point below their current levels. As cited by every journalist in every publication, [...]
You locked in a low mortgage rate-now you have to CLOSE on it!
Each Wednesday, the Mortgage Bankers Association releases its Weekly Applications Survey, a detailed look at new mortgage applications submitted over the previous 7 days. This week’s report will reveal what most of us already know — plunging mortgage rates created a flood of mortgage activity. If you’re among the many Americans taking advantage of today’s low rates, don’t [...]
FHA and VA Lending experts…now located in Danville!
I am pleased to report that effective in November, CMF has completed a year long quest to obtain FULL EAGLE FHA LENDING status. This is the highest level of certification, and the business model that large banks use, however we are not a large bloated bank. Just the opposite! We are a nimble mortgage banker [...]
New President, New Danville Mortgage Rates..act NOW!
As expected, the United States has elected President Elect Obama to the White House. Initial response from the mortgage market is positive, and rates have gone down a quarter percent overnight. This is certainly good news for my clients who own Danville Real Estate. This can translate to thousands upon thousands in interest savings. However, [...]
Interest rates heading up even with bailout! Time to lock in for the long run!
Last month, our government announced a “bailout” of both FANNIE MAE and FREDDIE MAC. This is an important event in our industry. I want to be sure I connect with you on some of the details, and answer any questions you may have. Interest rates headed up last week, after being stabile for the better part [...]
Credit Scoring Basics, what all consumers should know!
What makes up a credit score? A credit score is made up of five components. Payment history (35%), balances carried (30%), credit history (15%), mix of accounts (10%), and inquiries (10%). Payment history is based on paying bills as agreed and on time. The majority of the payment history is based on the most recent [...]
Don’t cash in retirement account for down payment!
Homebuyers frequently use retirement money toward the down payment on a house. But think before you leap. Buyers justify this by saying they want to cut the monthly mortgage payment and have a smaller mortgage. Buyers also use this tactic to avoid having to take out what’s known as a jumbo mortgage, which generally comes [...]
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Featured Realtor
MJ St. Jean
Empire Realty Associates
Website
mstjean105@aol.com
(925) 984-6466
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