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Veterans deserve rewards. They serve our country in a way that many would not or could not. One of their primary perks is access to some of the best mortgage financing available anywhere on the market. Get Pre-Approved. VA loans are backed by the Department of Veterans Affairs and available to active-duty members and veterans of the U.S. military, as well as members of the National Guard and surviving spouses. Cadets, in nearly all military branches, also have VA eligibility. U.S. Public Health Service officers and Department of Defense (DOD) officers can also…

Supply and demand is a basic tenet of capitalism. It drives the engine of America and it certainly drives the American housing market.   But are millennials that escue the commitment of owning a home making a gigantic mistake?  What about the Boomers? Burned by the last housing bubble, many are also choosing to avoid returning to the homeownership game.   It certainly appears that way. I feel for millennials. In general they exited college burdened with huge student loan debt. Much larger than the burden that previous generations faced. The general consentment…

The end of the summer buying season brought good news for the housing market. After weaker than expected numbers in August, existing home sales numbers rebounded nicely in September. Total existing–home sales, which are closed transactions that include single–family homes, townhomes and condominiums and, increased 4.7 percent to a seasonally adjusted annual rate of 5.55 million in September from a slightly downward revised 5.30 million in August, and are now 8.8 percent above a year ago (5.10 million). Get Pre-Approved The numbers continue the 12 consecutive months of gains that the housing market…

Following three straight months of gains, existing–home sales dipped in August despite slowing price growth and a positive turnaround in the share of sales to first–time buyers, according to theNational Association of Realtors®. Total existing–home sales fell 4.8 percent to a seasonally adjusted annual rate of 5.31 million in August from a slight downward revision of 5.58 million in July. Despite last month's decline, sales have risen year–over–year for 11 consecutive months and are 6.2 percent above a year ago (5.00 million). Get Pre-Approved Lawrence Yun, NAR chief economist, says home sales in…

Every month the National Association of Realtors (NAR®) tracks metrics key to the overall health of the housing market.  There are a number of important metrics you would want to pay attention to, if housing data analysis is in your wheelhouse, or if you are pondering your next housing move. One of the most  eagerly anticipated, and one of the most telling, metrics is “existing-home sales.”  The data set that is used to track this all-important metric is compiled nationally from Multiple Listing Service (MLS) data. The data used to determine existing home…

In a momentous decision Federal Reserve (called Fed in short) decided to stop buying mortgage and treasury bonds. After 6 years of doing so, Fed finally decided its time to put a stop on it. So, how does it impact mortgage rates? But, before that - lets get a little bit of History - shall we? In October 2008, Fed decided to do something it had never done before. They announced that they would go into the market and buy a ton of bonds. They wanted to drive the mortgage rates down, which would…

Growing concerns about weak economic growth and Fed's indication of delaying rate hikes, plummeted the mortgage rates to the lowest levels in 16 months. Mortgage Banker's Association (MBA) reported the decline in rates across the board in its latest weekly mortgage applications survey released today. See the results below. The rates this morning are actually much lower than below quoted rates. For most well qualified borrowers with 10%-20% equity in the house, 30 Year Fixed mortgage rates on Conforming loan balances is under 4%. Get a Live Rate Quote The average contract interest…