Conforming mortgage rates continue to drop. For the second straight week, the 30-year fixed rate mortgage fell to a new, all-time low nationwide. According to Freddie Mac's weekly mortgage rate survey, the average 30-year fixed rate mortgage rate dropped 1 basis point to 3.83% this week for borrowers willing to pay 0.7 discount points plus a full … [Read more...]
8-Fold Increase In “Improving Markets” Since September
May 10, 2012 By Leave a Comment
The economic recovery continues nationwide, but the recovery's an uneven one. Some metropolitan areas are faring very well this year, posting measurable gains in both employment and housing. Other metropolitan areas, by contrast, are struggling. To help identify those markets in which growth is occurring, the National Association of Homebuilders … [Read more...]
With LIBOR Low, Don’t Rush To Refinance Your ARM
May 9, 2012 By Leave a Comment
Is your mortgage scheduled to adjust this season? You may want to let it. This year's ARM-holding homeowners in AZ are finding out that an adjusting mortgage may be the simplest way to get access to today's low mortgage rates -- without paying the closing costs. Currently, conventional adjustable-rate mortgages are adjusting to near 3.00 percent. … [Read more...]
Reverse Mortgages : Pros And Cons
May 8, 2012 By Leave a Comment
Despite several big-name banks pulling the product from their respective home loan offerings, reverse mortgages remain a popular mortgage choice among homeowners aged 62 or over. A reverse mortgage is exactly what it sounds like -- a mortgage in reverse. Rather than borrow a fixed amount of money then pay that loan balance down to zero as with a … [Read more...]
Small Repairs That Can Raise Your Sales Price
May 7, 2012 By Leave a Comment
If you're actively preparing to list your home for sale, resist the temptation to make major home improvements. Nationwide, home improvement projects recoup just 58 cents on the dollar, says Remodeling Magazine. Rather, for a better return on your time and money, focus on the minor projects instead. It's the smaller projects in Scottsdale that … [Read more...]
