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Owning a home is a significant milestone that many aspire to achieve. Whether you’re a first-time buyer or looking to make a strategic move in the real estate market, having clear homeownership goals is essential. Let’s explore some common homeownership goals and share practical strategies to help you turn those dreams into reality. Building Equity: … Continue reading Common Homeownership Goals and How to Achieve Them
Market Comment Mortgage bond prices finished the week near unchanged which held rates relatively steady. Most of the daily movements were within a narrow range which is typical surrounding holidays and shortened trading sessions. Rates improved slightly Tuesday morning amid no data. Trading was flat mid-week. We ended the week and the year on a … Continue reading MIG Market Watch, January 1st, 2024
If you’re like most homebuyers, you’ll need a mortgage loan to pay for your new place. One of the many terms you’ll probably hear your loan officer use is “underwriting.” You may know exactly what that means, or you might not have any idea. Today we’ll define underwriting and how it fits into the mortgage … Continue reading What Is Underwriting and Why Is It Important?
Market Comment Mortgage bond prices finished the week near unchanged which held rates relatively steady. Most of the daily movements were within a narrow range which was a change from the past few weeks and months of large up and down swings. The data was very mixed but the lower-than-expected inflation reading helped keep things … Continue reading MIG Market Watch, December 25th, 2023
Have you made some mistakes with your credit? Paying bills late, charging up your credit cards, and applying for too much credit can all negatively affect your credit history. Unfortunately, since your credit report is one of the main things lenders look at to determine whether you can afford a house, bad credit can hinder … Continue reading Need To Repair Your Credit? Try These Simple Steps
Market Comment Mortgage bond prices finished the week higher which put downward pressure on rates. The front and back end of the week were negative with significant improvements mid-week. Rates were worse Monday morning in response to reports that BRICS countries dumped over $120B in U.S. Treasuries in 2023. MBS prices rebounded around tame inflation … Continue reading MIG Market Watch, December 18th, 2023
Homeowners build up equity in their properties they can use for renovations, sending a child to college, paying off debt, or other purchases. If you’re a homeowner, you may be curious about how to tap into your equity. There are multiple ways to do it, which we’ll discuss today. First, What Is Equity? Your home’s … Continue reading Want To Take Equity Out of Your Home? Try These Strategies
Have you ever found yourself trying to make sense of the complex world of interest rates, only to be overwhelmed by a sea of confusing terms and numbers? Don’t worry, we’re here to break down the language used by financial experts and provide a clear understanding for everyone about what might happen with interest rates … Continue reading 2024 Housing Market and Mortgage Rate Landscape
Market Comment Mortgage bond prices finished the week near unchanged which left rates flat. Trading was volatile but stayed within a narrow range. We started on a positive note Monday with weaker than expected data. Factory orders fell 3.6% vs the expected 2.8% decline. Data like this supports the argument the Fed can pivot sooner … Continue reading MIG Market Watch, December 11th, 2023
In the past, unscrupulous lenders preyed upon uninformed borrowers. This was so widespread that the government set regulations that must be followed to maintain fair, transparent practices. One of those is the Truth in Lending Act. Let’s talk about the Truth in Lending Act (TILA), its history, what it does, and how it protects you. … Continue reading How Does the Truth in Lending Act Protect Your Mortgage?
Market Comment Mortgage bond prices finished the week sharply higher which put downward pressure on rates. Sentiment changed to slightly favor a Fed pivot on high rates sooner rather than later. A Fed official noted that they are confident in their ability to slow the economy and get inflation back near 2%. The data showed … Continue reading MIG Market Watch, December 4th, 2023
Is one of your 2024 New Year’s resolutions to buy a home? If so, good for you! There are plenty of fantastic short- and long-term benefits that homeownership offers. The sooner you start planning, the better your chances will be of making good decisions, securing a mortgage, and getting into the home you want. Upfront … Continue reading Preparing Your Finances for a Successful Home Purchase in 2024
