Rates are at record lows, but do you qualify for those rates? If you haven't heard about these record low mortgage rates in Tega Cay, you might want to check into having the internet hooked up to that rock you've been living under.? The news is everywhere that mortgage rates are super low, but the real question is, "Can you qualify for them?" It really doesn't matter how great something is if Continue Reading about How to Qualify for the Best Rates!
It does not look like mortgage rates are going to fall much below current record lows as lenders become flooded with refinances. The Federal Reserve has been on a mission to get long term interest rates lower in order to help spur the economy.? One of the biggest areas of focus has been mortgage rates, with a promise of $500 Billion to purchase mortgage bonds.? This promise was just raised to Continue Reading about Tega Cay Mortgage Rates Going Lower?
Have you ever wondered what a "good" credit score looks like? Read below to find out... A "good" credit score is a very relative term because "good" means different things to different people.? I know mortgages, so although I have an idea of what a auto lender might think is a "good" score, I can tell you for sure what it takes to get a mortgage! The current minimum score for most home Continue Reading about What is a Good Credit Score?
Rates improved today after a sharp decline in stocks! PRICING EXAMPLE: I was able to lock in a customer today at 4.875% on a 30 year fixed mortgage.? The loan amount was $275,000 and it was a purchase loan for their primary residence.? They put 20% down and had a 746 credit score.? The APR was 5.023% and the origination fee was .875%. The good news in this crazy market is that mortgage Continue Reading about Stocks Fall, Mortgage Rates Improve!
The time of waiting for the "bottom" is past... now is the time to buy Real Estate!! There has been a time for people with money to spend to sit on the sidelines and wait out the proverbial "storm" in the market.? Whether stocks or real estate the values have been in free-fall mode, and buying just didn't make a ton of sense.? I believe that time is over and here's why... Continue Reading about Homes More Affordable Than Ever!!!
Can 11th Grade Economics 101 predict mortgage rate trends... you bet! I learned in high school about Supply and Demand.? When Demand is high the price will follow, and likewise when demand is low.? When Supply is high prices drop and right now there is a huge supply of mortgages being written.? When lenders make new mortgages they have to sell more mortgage bonds and right now lenders have an Continue Reading about Mortgage Rates Supply and Demand
If the economy is so bad, why did mortgage rates get higher this week? We all know that a weak economy typically means lower mortgage rates, but it is not a direct relationship.? Mortgage rates are based on mortgage bonds and any financial instrument trades on both data AND fear.? If you were investing money into a bond that is backed by real estate and that real estate might lose value, you Continue Reading about Mortgage Rates Higher, WHY?
Will President Obama's economic stimulus push rates higher or keep rates low? Obviously no one knows for sure what affect the stimulus plan will have on each sector of our economy.? The plan is not yet 100% in place and could still be modified or scrapped altogether, although it is unlikely at this point that some form will not be passed soon.? We can look into the general points of the plan and Continue Reading about OBAMA PLAN, Good or Bad for Mortgage Rates?