Welcome to 2014! It’s important to have all the data, but sometimes data isn’t knowledge. You can go online, look up interest rates, even use a mortgage calculator to come up with some numbers on the fly… but is that really useful knowledge when it comes to making an educated decision about your mortgage? Can you trust what you find
An article in the Wall Street Journal this past week describes why mortgage rates may begin to rise in spring of 2014 (http://blogs.wsj.com/developments/2013/12/17/why-mortgage-costs-could-rise-in-2014/). While it is always a challenge for buyers without a down payment or with not-so-great credit scores to secure the best possible rate, it seems that it may be more challenging than it has been in 2013.
Forbes.com posted a really interesting article about the top three things that can go wrong for a buyer (read it here). The author estimates that about 1/3rd of all real estate transactions never close. There are three major reasons why your home could never close: The first, and most relevant to me, is your financing. So, you have the house,
I recently created a video introduction for my clients and colleagues to tell you a little bit more about me and about the work I do. Though I’ve only been in the business for ten years, I believe that anyone who is truly great in the mortgage industry will be retired in 20 years, as there are few who can
Because of the rise in interest rates recently, many homeowners have not been able to get the funding they needed to purchase their properties. Since 2008, lenders have also become more strict. Hopefully, there are new signs that they may be loosening up a bit and opening up more financing to eager buyers. Down payments have gotten slightly smaller (the
You might notice that WelcometoRegan.com has been upgraded and has a fantastic new look! It’s important to stay on top of cutting-edge technology in the real estate and mortgage industries, and I am always looking for more innovative ways to bring you better service and information. I hope you like the new look, too! All the same useful information is
I recently read a new article on Forbes.com that looked at the question of whether a potential home buyer should buy now, or wait and risk potentially spending more money down the line. The article brings up some good points: inflation, rising prices, and rising interest rates all are very good reasons you might want to consider now instead of
The national debt ceiling is due to expire this month on October 17th, and the importance of this has been downplayed because of the current government shutdown, but it is a very real issue we must also consider. The federal debt ceiling, if not raised, can have prolonged effects on the economy and consumer confidence. The stock market could fluctuate
The ongoing shutdown of many government agencies will definitely affect real estate, but the short-term effects will not be so easily noticed. If the shutdown lasts longer than a few weeks, we may see more significant problems such as the affordability and access to mortgages, which could in turn reduce the demand for housing and home building. Also, the debt
When the Federal Housing Finance Agency lowers the cap on federally backed mortgages, what will the impact be on our local real estate market in 2014? In January of 2014, the cFederal Housing Finance Agency will reduce the conforming loan limit (which is currently have $625,500) by one hundred thousand dollars or more. The FHFA has not announced exactly how
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