Mortgage & Lending 
Helpful Information on how to obtain a new mortgage
There are currently 42 blog entries related to this category.
But the Banks Said Mortgage Rates Would Stay Low All Year! So Why are Mortgage Rates RISING?
Monday, March 19th, 2012 at 11:04pm. 269 Views, 0 Comments.
First of all, when was the last time you trusted a bank? O.K. why did you think rates would not go up? Because the Federal Reserve said they would not go up? Now that rates are back to 4% and up 3/10ths of a point in just a few days, you can now discount what the Fed has to say. What you are seeing is nothing less than the financial markets at play. Call it interest rate futures, options, money coming out of bonds and heading for stocks. No matter what you call it, it appears the economy is changing and improving conditions means higher mortgage rates and it matters NOT what the Fed does.
For those who have waited and waited, well it is about to get more expensive to borrow. The fact is the FED can keep rates frozen, but BANKS will speculate on interest…
Cost of FHA Borrowing Going Up Sharply on April 1, 2012 as HUD Raises FHA Mortgage Insurane Premiums
Friday, March 2nd, 2012 at 5:08pm. 127 Views, 2 Comments.
According to an email sent to ARG from Scott Drescher of Prime Lending, FHA Mortgage insurance premiums are set to rise from 1% to 1.75%, a whopping 75% increase in this already expensive insurance premium. Buyers who are seeking an FHA home loan, will need to be under contract with an FHA case number assigned before April 1st or they will have to pay the additional .75% mortgage insurance fee when they close their new home. This mortgage insurance increase is in addition to the .10% rise that has already been approved.
One way or the other it appears that the cost of borrowing is starting to move higher.
View Press Release
As always, Happy House Hunting
National Association of Realtors Reporting a Rise in Pending Home Sales Nationally
Friday, March 2nd, 2012 at 3:05pm. 158 Views, 0 Comments.
Looks like changes are occuring in the housing market and this time - for the better. Buyers and sellers who are considering an address change need to also focus on the possibility of Mortgage Interest Rates rising as conditions in the national housing industry improve. There is a possibility that if the entire U.S. housing industry had Texas housing industry's numbers, mortgage rates may already be at 6%. So it appears that Texas has in one way or another, benefited from low rates based on what has been happening outside of our state. For sure, and you can quote me, nothing ever stays the same" so plan your real estate needs accordingly.
Happy House Hunting!
Read from NAR - January Pending Home Sales Rise, Market on Uptrend
Windsor Homes Now an Approved ARG FREE Move-up Builder - Buy a New Windsor Via ARG and We'll Sell Your Pre-Existing Home 100% Commission FREE!
Saturday, January 28th, 2012 at 2:02pm. 245 Views, 0 Comments.
ARG is proud to announce the addition of Windsor Homes to ARG's exclusive group of DFW new home builders who qualify for our 100% commission free new home move up. DFW consumers have an unbelievable savings ally in ARG who through the benefit of advanced information technology has slashed the cost of agent services associated with buying and selling area real estate.
YOUR CHOICE 3% REBATE OR FREE MOVE UP
Windsor Home buyers can enjoy the services of an experienced top tier agent and get either a 3% buyer cash rebate, or if you need to sell a home before you can buy, a commission FREE sale of your current home. It is your choice to save and your choice to call ARG. Yes, check us out on the BBB (link at bottom of every webpage) and don't forget to browse my…
Mortgage Rates Set to inch up Starting as Early as February as the FHFA begins to increase Loan Guarantee Fees
Wednesday, January 11th, 2012 at 12:08pm. 149 Views, 0 Comments.
On Dec. 23, 2011, President Obama signed into law the Temporary Payroll Tax Cut Continuation Act of 2011. While most of us never heard of this provision tucked away in the Temporary Payrool Tax Cut Continuation Bill, Congress consented to the fee increase. Under this law the Federal Housing Finance Agency (FHFA) is to increase guarantee fees charged by Fannie Mae and Freddie Mac (the Enterprises) by no less than 10 basis points (1/10th of 1%) from the average guarantee fees charged by these companies in 2011 on single-family mortgage-backed securities.
This fee increase will amont to ~$15.00 per month increase on a $200K loan. The FHFA is also considering additional fee increases over the next 2 years.
http://www.fhfa.gov/webfiles/22982/GFEESTMT122911F.pdf
It…
The Ghost of Ebenezer Scrooge Must Have Gotten to the Bankers! Have You Seen The LOW DFW MORTGAGE RATES?
Wednesday, December 21st, 2011 at 9:47pm. 181 Views, 0 Comments.
I wonder when this trend will reverse itself. I wonder how many people will miss this GOLDEN OPPORTUNITY and think back to December 21, 2011?
Oh, by the way 15 year money is now just 3.06%!! I wonder what you can do on a TEN Year Note? Yikes, has there ever been a better time to be a new home buyer?
And just think I paid 13% on my first home back in 1984!
Season's Greeting Y'all and a big THANK to Ebenezer!
Current Mortgage Rates Zillow Mortgage Marketplace Get this widget See local rates Rates shown may lag actual market and are based upon excellent "A" credit scores. Need a great lender, give ARG a call and we will get you connected.HOW MORTAGE RATES AFFECT YOUR PURCHASING POWERWhen rates go up 1% it is like adding $30K to your home's price tag. When rates…
Interest Rates Break Through Historic Lows - 30 Year Money Now at Multi-Generational Lows of Just 3.91%
Wednesday, August 10th, 2011 at 1:28pm. 272 Views, 0 Comments.
This is exactly what the housing industry needed. With sub 4% 30 year mortgage money and 15 year money nearing 3.25%, home buyers can save thousands of dollars compared to the traditional rates paid during the last 2 generations of Americans.
Happy Home Buying! Don't forget you'll save even MORE with ARG!
SEE New LOW Mortgage Rates for DFW, Dallas
Calling All Buyers! Interest Rates Now Back at Historic LOWS! Why RENT when You Can Pay LESS to OWN
Thursday, August 4th, 2011 at 12:14pm. 364 Views, 0 Comments.
Wow, 4.11% for 30 year "A" paper and just 3.35% for 15 year "A" paper money!
Current Mortgage Rates Zillow Mortgage Marketplace Get this widget See local rates Rates shown may lag actual market and are based upon excellent "A" credit scores. For instant rate quotes, please contact CMS Loans at 214-987-4408HOW MORTAGE RATES AFFECT YOUR PURCHASING POWERWhen rates go up 1% it is like adding $30K to your home's price tag. Likewise, when rates go down by 1% its like making your home $30K cheaper than the actual price with regards to your monthly payments.
Said another way IF at 6% you can afford to buy a $300K home, then at 4% you can afford to buy a ~$360K home keeping the same paymet as if it were $300K. However, If rates go up 1% then instead of buying a…
MORTGAGE INTEREST RATE ALERT - TIME TO LOCK YOUR MORTGAGE RATE β DONβT TAKE CHANCES
Saturday, June 25th, 2011 at 10:57am. 438 Views, 0 Comments.
If you are pending the close of a home, or want to REFI, this is it. With so much uncertainty in world economies, rates may never be this good. With 4.3% 30 year money and 3.5% 15 year money, you simply can't go wrong.
MORTGAGE INTEREST RATES FOR DALLAS TEXAS
REAL TIME MORTGAGE INTEREST RATES
When rates go up 1% it is like adding $30K to your home's price tag. When rates go down by 1% it makes the price of the home you want to buy feel $30K less expensive.
Said another way IF at 6% you…
Mortgage Interest Rates near 6 Month Lows and Just a Quarter Point From Historic Lows!
Saturday, June 4th, 2011 at 10:00am. 295 Views, 0 Comments.
When rates go down, you can buy more home for the same monthly payment. Each 1% reduction in mortgage rates mean buying a DFW home that is roughly $30K more in price while keeping your payments the same. Or stay at your targeted purchase price and get lower monthly payments. That makes now a particularly great time to buy or refi.
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