Find Out How Much House Can I Afford With my Salary

Much House Can I Afford With my Salary

Now that winter is almost over thousands of people will begin actively searching for a home. If you’re one of these people the first thing you want to ask yourself is, How much house can I afford with my salary This is important so that you don’t set your expectations too high and find the right home that can reasonably fit in your budget. This can be done fairly easily by plugging your personal income numbers into a mortgage affordability … [Read more...]

What Will Happen with Mortgage Interest Rates in 2016

Mortgage Interest Rates

Last year Freddie Mac reported that their lowest 30 year fixed-rate mortgage rates hovered between 3.59% and 4.09%. This is the least amount that rates have moved during a calendar year since 1998. And the continuation of low rates has helped consumers, in particular first time homebuyers. With rent prices rising and mortgage payments staying relatively the same those debating whether to own their own home have begun to see that home ownership … [Read more...]

Wealth Effect of Real Estate

It's as American as apple pie, Chevrolet and baseball. You may not know what it's called, but if you live in the great U.S.A. it's had a hold on you. The "Wealth Effect" of real estate can be addictive. It's why so many of us go to the classified ads and the computer to check real estate listings just to see what the neighbors home down the street was listed for... and then after a SOLD sign gets posted why we check to see how much it sold … [Read more...]

Real Estate Investment Pays Off Over Years

Investment real estate has made more millionaires in America than any other form of investing, a survey by Housing Predictor shows. Millions are made in investment real estate. The majority of the wealthiest families in the Nation have made their fortunes investing in real estate. Many start out investing in simple single family homes, parlay the profits into a duplex or other forms of real estate and discover wealth in investment real … [Read more...]

Navigating the New Year

By Brad Risen Economist Happy New Year! It's 2009, the year that America will go head to head with the U.S. economy like no other since the Great Depression. So enjoy your New Year's punch now. You'll need it! I have never been a pessimist. I grew up thinking and being the serial optimist. But the World has changed and things are going to be rough in 2009. Millions of Americans will lose their jobs. Millions more will lose their homes. … [Read more...]

Home Mortgages and Refinancing

Mortgage rates have been on their way down after the Fed cut the prime rate to near historic lows in an effort to help stabilize the economy. More than 5-million homeowners are facing re-adjustments in their adjustable rate mortgages nationally in 2009 and 2010, and the drop in home borrowing rates will provide the difference for many homeowners between being able to refinance their mortgages. Rates on conventional 30-year mortgages now hover … [Read more...]

Is Now the Right Time to Buy a Condo?

Is it Really Time to Buy a Condo? By Robert Jones Inventories are rising, prices are falling, investors are bailing out, and developers are getting desperate. For someone with a little extra cash, this may look like the perfect time to buy a new-construction condo. After all, you’re getting a brand-new building with slick finishes and great amenities at a fraction of what it would have cost a year or so ago. Seems like a no-brainer, … [Read more...]

HAMP Revamps Underwater Refinancing Program

By Kevin Chiu The U.S. government’s giant lenders, Freddie Mac and Fannie Mae have revamped the Home Affordable Modification Program (HAMP) to make it easier for more underwater homeowners to refinance mortgages. The government sponsored enterprises, under the direction of the Federal Housing Finance Agency detailed the changes Tuesday evening. The program is intended to allow underwater homeowners to refinance at lower interest rates, but … [Read more...]

2011 California Housing Market

Like suffering through a painful New Year’s hangover, California is slumbering through the fallout of the real estate crash after twin tax credits artificially boosted its housing market only to return to a slowdown. As the world’s sixth largest economy on its own, California isn’t exactly falling into economic ruin, but it isn’t making headway into an economic recovery either. The housing market is still pained by a foreclosure crisis … [Read more...]

Saving Financial Markets Fed’s Priority Not Real Estate

By Mike Colpitts Editor Taking its most aggressive action in years, the Federal Reserve is attempting to save the U.S. economy from falling into an economic depression. The infusion of $200-billion into the money markets is intended to theoretically act to help mortgage lenders, banks and other lenders from failing. The credit crunch has sent financial markets reeling and stock prices to new record lows in many cases. But the Fed’s … [Read more...]