Today I ran across the infographic, below, that Ellie Mae put together to visually show the 2012 averages for loan sizes, types, etc. Let’s look at the numbers, and averages, for a minute. Then I will add my experience which differs from this a bit. First, the graphic: A few details jumped out at… Continue Reading
A lot of homeowners who qualify for the HARP 2 refinance program have taken advantage and are enjoying significant savings either with a much lower monthly payment, or dramatically cutting the interest they will pay on their mortgage by going with a 15 year fixed rate. 1.8 million homeowners, actually, have taken advantage of the… Continue Reading
Right about now individuals and families across the country are opening their first paychecks of the year, only to see less there than the previous check in late December. Ouch! An addidtional 2% payroll tax is being withheld from what you are bringing home. And said that way, you know, what is 2%, that won’t… Continue Reading
I have written before about the National Association of Realtors interesting data on tracking the Housing Affordability Index. And now NAR says the 2012 is on track to be the most affordable year on record. I know, we are in 2013, so we should know for sure whether 2012 was or wasn’t the most highly… Continue Reading
The only constant in the housing market is change. And that won’t change in 2013, if the beginning of the year is any indication. So, what should you with your home, or to dip your toe in the housing waters this year? Let’s take a look. Tip 1: Don’t Procrastinate; Refinance Now The Fed is… Continue Reading
I have written that Washington is eyeing a new refinance program for underwater homeowners, dubbed by many as HARP 3.0, and followed by the White House as #MyRefi. I predict HARP 3 will happen HERE; and went into any detail we suspect will be included in HARP 3.0 HERE. And the latest proposal would transfer… Continue Reading
Operation Twist, in effect since September, 2011, is coming to a close. The Fed under that program kept mortgage rates low by the Fed selling short term maturity bonds that it owned an using the proceeds to buy long term bonds that mature in the next 6 to 30 years. Alas, they have sold off… Continue Reading
Good news for homeowners who are under water on their mortgage – who owe more than the home will appraise for at present. As many know, there is no limit to how far under water a home can be in order to refinance the home, so long as the loan is owned by either Fannie… Continue Reading
I don’t know about you, but I am getting tired of hearing the term fiscal cliff during every news update everywhere. So at the risk of turning a stomach or two among you, the readers of this blog, I do want to toss out the ‘fiscal cliff’ term once again and just take a brief look at… Continue Reading
We are trimming trees and baking the most delicious items for the year. Christmas is the time of year when the home becomes the center of activity and tradition. As it should be. I don’t know about you, but I love this time of year! (And I hardly ever use an exclamation point…that’s how much… Continue Reading