Despite Record Low Rates Many Still Paying Higher Interest

Interest this week for a 30 year mortgage is at 3.49%. Yet 69% of homeowners are paying interest rates of 5% or above, and a third of those are paying over 6%. that means that those currently paying between 5-6% are paying around $90 to $150 more per month for each $100,000 of their mortgage. […] Read more »

Reverse Mortgages

In a past article we explored a trend for elderly parents living with their children while maintaining separate quarters in our article “Is a Granny Pod In Your Future.” However, there are many parents that don’t want to leave their house. Whether it is a feeling of a loss of freedom, becoming a burden or […] Read more »

Headline News: ” Countrywide Tried To Influence Policymakers

In other headlines water is found to be wet, and the sun is hot. Seriously is anyone surprised that large corporations are using their money and resulting influence to try to influence our legislature? Just take a look at current tax policy, banking regulations, and any other law/policy that involves corporations today. Well on to […] Read more »

Courts, Scams and Rants

In looking through the real estate news, it appears that today is court and scam day. The Supreme Court just decided to make it harder for borrowers to  sue mortgage lenders when they overcharge for certain items at settlement. This limits a provision of a 1974 federal law on real estate settlement procedures. It seems […] Read more »

Mortgage Applications Increase

Last week saw mortgage applications increase by 9.2% . This was driven by an increase in refinances, which grew to 74.9% share of total applications versus the prior weeks 72.1%. The refinancing increase appears to be driven by the record low 30 and 15 year fixed interest rates. Read more »