Realtors® Advocate Housing Finance System Overhaul That Protects Taxpayers and Access to Credit

As lawmakers debate how best to reform the secondary mortgage finance market, they must ensure that any new system retains access to safe, secure and affordable sources of mortgage capital for creditworthy consumers in all market conditions or risk a major disruption to the economy, warned the … [Read more...]

Statement From NAR President Gary Thomas on Qualified Residential Mortgage Rule

The following is a statement by National Association of Realtors® President Gary Thomas: "The re-proposed Qualified Residential Mortgage rule announced this morning is a victory for homebuyers and the future of homeownership in this country. This version of the QRM rule will give creditworthy … [Read more...]

The advantages of Assumable Mortgages

Today’s advantages of assuming existing mortgages as opposed to applying for a new mortgage §Lower closing costs §Lower interest rate loans amortize faster than higher interest loans §Mortgage is advance in amortization timetable §Easier to qualify for than new one §Appraisal Not … [Read more...]

Where Are Mortgage Rates Heading

Today’s $20,000 question is…Where are mortgage rates headed in the near future? Most believe the rapid rise in rates experienced over the last month will not be sustained and that they will level off into a range between 4% and 5%. When recently asked, Zillow’s director of Mortgage … [Read more...]

30 Year Fixed Rate Mortgages

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Do-Nots before Buying or Closing on a Home

Do Not: Make Major Purchase of Any Kind Any major purchase that would create debt of any kind, such as buying a car, furniture, appliances, electronic equipment, jewelry, vacations, or expensive weddings. Do Not: Move any Money Around accounts Lenders review loan packages for approval, and … [Read more...]