Interest Rates 
There are currently 6 blog entries related to this category.
The Future of Mortgage Interest Rates and What It Means for Housing Recovery
Sunday, February 6th, 2011 at 12:49pm. 2711 Views, 3 Comments.
A lot of attention has been paid in recent weeks to mortgage rates: after plunging last spring and staying at historic lows for six months, they started to rebound in November. With rates up to 5.11% at the beginning of the year according to HSH Associates and fluctuating since, many have been wondering what the future holds for mortgage rates, and how they will impact the tenuous housing recovery.
When mortgage interest rates originally dipped last May, many hoped it would spur home buying and help continue the mini-sales boom caused by the homebuyer tax credit. Similar to the tax credit - which pulled in the summer buying season and arguably didn’t actually create many new buyers - the lower mortgage rates had a muted effect on home sales. Instead,…
Houston Heights Homes Make Old New Again
Saturday, January 8th, 2011 at 10:50am. 3807 Views, 1 Comments.
Take a stroll through the Houston Heights neighborhood and you’ll find home after home built at the turn of the 20th century - Greek revival homes with expansive porches and Victorian mansions with soaring turrets and gabled roofs. Given that some 116 properties in the Heights are on the National Registry of Historic Places, it’s no surprise that this area is steeped in history - one of the few parts of Houston where original structures remain and the past easily mingles with the present.
The Heights - like the rest of Houston - owes its origins to (gasp) northerners. The famed Allen brothers bought the league of land upon which the Heights sits for $1 an acre in 1836, but quickly had to sell it to settle debts. The land changed hands several more times…
De-Mystifying Adjustable Rate Mortgages
Saturday, December 11th, 2010 at 6:15pm. 2463 Views, 1 Comments.
When dust from the recent downturn in the economy settled, it became obvious that many ill advised mortgage loans had been taken out. Many borrowers made Adjustable Rate Mortgage (ARM) loans without any real concept of what they were getting into. ARM’s are a bit more complex than fixed rate mortgages and therefore, a little harder to understand. Simply put a fixed rate mortgage is one in which the interest rate stays the throughout the term of the loan whereas with an ARM the interest rate and payment amount can change. Many factors determine the rate at which interest is charged with an ARM.
In general, ARMs feature low initial rates of interest with consequent low monthly payments. Some borrowers fail to look beyond these low amounts and therefore miss…
FHA Loans Changes, The Glass is Half Empty and Full for Prospective Homebuyers
Saturday, August 14th, 2010 at 2:13am. 806 Views, 4 Comments.
FHA loans have been a saving grace for many prospective homebuyers. Lowered rates and affordable upfront costs have made it easier for those first joining the market to guarantee a loan that will leave them money after the mortgage each month. However, as of October 4th changes are coming to the premiums on FHA loans. And these changes are not so cut and dry.
The housing market has taken a hit these past few years, and the insurance fund issuing FHA mortgages has taken a hit as well. Since FHA officials are not legally allowed to raise rates, Congress recently granted them more leeway with premiums. In short, premiums will be adjusted after October 4th, but depending on the plans you have for your home’s future, now may or may not be the time to buy.
As the…
Cutting Your Home Mortgage Loans Cost: Remember your old friends and don’t be afraid to ask
Tuesday, August 10th, 2010 at 6:14pm. 874 Views, 0 Comments.
Closing costs can take the cheap right out of financing a home. If you have ever shopped around for home mortgage loans, this should come as no surprise to you. Comparing and contrasting what one lender has to offer from the next may just be the most difficult compare/contrast homework assignment you will ever face.
Until the U.S. Department of Housing and Urban Development (HUD) works out a plan that will regulate and simplify the mortgage process, it’s time for you to strategize and make the best of a somewhat sticky situation. In the meantime, it helps to hold on to the hope that HUD may eventually save you as much as $1,000 off a typical mortgage transaction.
Remember your previous lender….
Looking to refinance? The number one call you should make it to…
Could Interest Rate Increase Impact Houston Real Estate?
Sunday, February 28th, 2010 at 10:59pm. 857 Views, 0 Comments.
For several months, those attuned to the Houston real estate market have considered how a change in rates might affect their interests. That answer may be on the way sooner than anticipated due to the Fed’s decision to increase the discount rate on February 19.
The decision to boost the discount rate to 0.75 percent from 0.50 percent marked the first increase in a year. As Yahoo noted, “The announcement shouldn’t have come as a complete surprise, though,” (yahoo.com).
The discount rate is the interest rate charged to commercial banks by regional Federal Reserve banks (i.e. the discount window). Though this rate increase may not directly impact mortgage or business lending rates, the argument can be made that such fluctuations eventually trickle down to the…
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