lizlaurenb

26

Apr

Real Estate

Mortgage Interest Rate Versus APR

When you go through the process of applying for a mortgage, you need to make sure you understand all of the terms on the page. Two of the most common numbers you will come across include the mortgage rate and the APR. Many people associate both of these numbers with interest rates, but you will probably notice that they are not quite the same. What are the differences between these two numbers, and how are they going to impact your mortgage loan? The Mortgage Interest Rate The first number you are probably going to look at is the mortgage interest…

25

Apr

By lizlaurenb

Real Estate

The Top Homeownership Expenses You Need To Know

Owning a home can be an exciting and rewarding experience, but it's important to be aware of the expenses that come with homeownership. Understanding these costs can help you prepare for and manage them effectively, ensuring a smoother transition into your new home. The Mortgage Payment The mortgage payment is typically the largest expense that homeowners face. This monthly payment consists of the principal and interest on your home loan. The principal is the amount you borrowed to purchase the home, while the interest is the cost of borrowing the money. The length of your loan term and the interest…

21

Apr

By lizlaurenb

Real Estate

How Do You Tell If A Neighborhood Is The Right One To Settle In?

Choosing the perfect home to settle in can be a tough decision. You have to weigh in on many factors including price, size, features and amenities, number of bedrooms and baths, design, and so on. However, all these factors are not enough to give you a great home ownership experience if you fall into the wrong neighborhood. Picking the right neighborhood not only guarantees you happiness and comfort, but also helps with home appreciation for the sake of future re-sale value. In most cases, though, it can be tougher to find the perfect neighborhood than it is to find the…

19

Apr

By lizlaurenb

Real Estate

Purchasing A House That Requires Repairs: What To Know

If you are looking for a way to save money on the purchase of your next home, you might be thinking about buying a property that requires repairs. Keep in mind that you will not be able to move into this property right away, so is it the best option? You could open the door to unique financing options that could make it easier for you to purchase your next property. FHA 203(k) Rehab Loan One of the best options available is an FHA 203(k) rehab loan. This is a convenient option because it allows you to finance both the…

18

Apr

By lizlaurenb

Real Estate

What Does It Mean To Be In A Sellers’ Market: A Brief Overview

In the realm of real estate, market conditions can differ significantly due to a variety of factors. One such state is known as a sellers' market, which typically benefits those wanting to sell their property. Let’s dive into what makes a sellers' market advantageous for homeowners looking to offload their house and why it's an attractive option for buyers too. A Lack Of Inventory The lack of available homes creates supply-side pressure in a sellers' market; there are fewer houses on offer than there are prospective purchasers searching for them. This scarcity could be attributed to many reasons including economic…

17

Apr

By lizlaurenb

Financial Reports

What’s Ahead For Mortgage Rates This Week – April 17, 2022

Last week’s economic reporting included readings on inflation, retail sales, and consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released. March Inflation Slows as Retail Sales Fall Inflation slowed to a month-to-month pace of 0.10 percent in March as compared to February’s reading of 0.40 percent growth. Year-over-year inflation rose by 5.00 percent and fell short of analysts’ expected reading of 5.10 percent year-over-year inflation and February’s year-over-year inflation rate of 6.00 percent. Core inflation, which excludes volatile readings for food and fuel, rose by 0.40 percent in March and matched analysts’ expectations. The year-over-year reading…

14

Apr

By lizlaurenb

Real Estate

A Home Equity Loan Versus A HELOC

If you are looking for a quick source of cash, you may have been told that you can tap into the equity in your home. If you have at least 20 percent equity in your home, you can borrow against that equity at a relatively low interest rate for a quick source of funding. You might be deciding whether to apply for a home equity loan or a home equity line of credit, which is usually shortened to HELOC. Home Equity Loan A home equity loan is a loan that you will receive based on the equity you have in…

13

Apr

By lizlaurenb

Real Estate

Moving From An Apartment To A House? Here’s What You Need To Remember About Your Lease

The major problem that the vast majority of buyers will run into - especially when purchasing their first home - has to do with a lease agreement that is still active with their apartment complex at the time of the purchase. If you locate the perfect home in February but your lease isn't over until August, you can't be expected to wait around. But at the same time, the remainder of that lease agreement could represent thousands of dollars that you'll be paying to essentially "live" in two different places at the same time. Luckily, all hope is not lost.…

12

Apr

By lizlaurenb

Around The Home

Pamper Your Pet With These Five Awesome Pet-friendly Home Upgrades

A great addition to many families is the beloved pet, but beyond the regular treats and pillows, there are plenty of ways to spoil your pet and let them know how much you love them. If you're looking for some neat concepts for your favorite pooch, here are some unique ideas you may want to try out. A Relaxing, Personal Place Many animals will gravitate towards your new couch, but by giving them their own special spot, you can make them happy and keep your living room looking great at the same time. Instead of a second-hand pillow, buy them…

10

Apr

By lizlaurenb

Financial Reports

What’s Ahead For Mortgage Rates This Week – April 10, 2023

Last week's economic reporting included readings on construction spending and labor sector readings on employment and the national unemployment rate for March. Weekly readings on mortgage rates and jobless claims were also released. Commerce Department: February Construction Spending Falls The U.S. Commerce Department reported less construction spending in February than in January as construction spending fell by 0.10 percent to a year-over-year reading of $1.844 trillion for all types of construction. Year-over-year construction spending increased by 5.20 percent. While total construction spending fell in February, residential construction spending increased. Spending on single-family home construction slowed due to builders’ concerns over…