Market Value versus Replacement Value The importance of Insuring your Home to Value……. Market Value (the price at which your home may sell today) is not the same as Replacement Cost (the actual cost to repair or rebuild your home). As a homeowner, you may be perplexed by the gap between the current market value…
A Few Common Misconceptions About Mortgage Pre-Qualification
By understanding how pre-qualification works, youâll be able to find the right mortgage for you – at the best possible rate. So what is mortgage pre-qualification, and what isn’t it? Here are three common pre-qualification myths that you may have heard.
What’s Ahead For Mortgage Rates This Week – August 24, 2015
Last week’s economic events included a number of readings on housing related topics. The National Association of Home Builders released its report on builder confidence in housing markets, Housing starts reached their highest level since the great recession, and existing home sales exceeded expectations and the prior month’s reading. The Federal Reserve released minutes for its most recent FOMC meeting, which indicated that while a majority of FOMC members are leaning toward raising the Fed’s target federal funds rate, concerns over certain aspects of the economy continue to keep the Fed from citing a date for raising its target interest rate.
3 Handy Tips That Will Prevent Serious Stress when Buying and Selling a Home at the Same Time
It’s not easy, but staying calm will help you to plan for your upcoming home purchase and sale and make the process easier. So how can you avoid the stress? Here are three strategies that will keep you calm, no matter what may happen.
Happy Birthday to Phil Lekousis, Vice President of People’s Home Equity Inc.
WE WISH YOU A GREAT YEAR AHEAD!! Phil began his career in the Financial Services Industry as a Trader at the Chicago Mercantile. His attention was drawn to the Mortgage Banking Industry, where he first owned a mortgage company in the western suburban area of Chicago. From there, Phil was recruited and accepted the position…
FOMC Minutes: Rate Hike May be Near
The minutes for the most recent meeting of the Federal Reserve’s Federal Open Market Committee (FOMC) suggest that while committee members won’t specify a date, a rate hike could come sooner than later. Committee members continue to cite concerns over labor markets and other economic factors, but the minutes of the FOMC meeting held July 28 and 29 indicate that a majority of members see a rate change as likely in the near term.
Buying an Investment Property? 3 Key Home Features That Will Help Ensure You Turn a Profit
The key to a successful real estate investment is choosing the right property. A great property will reap dividends for years to come. Look for these three features in your next investment property and you’ll have no trouble finding one that turns a profit.
Understanding the “Adjustable Rate Mortgage” (ARM) and How This Type of Mortgage Works
Understanding what an adjustable rate mortgage, or ARM, is in comparison to a fixed rate mortgage can help applicants make a more informed decision about their mortgage plans.
What’s Ahead For Mortgage Rates This Week – August 17, 2015
Last week’s economic reports related to housing were few and far between other than weekly reports on new jobless claims and Freddie Mac’s mortgage rates survey.
House Hunting in a New City? Three Ways to Determine Which Neighborhoods Are Up and Coming
If you’re moving to a new city and you’re looking for an affordable home in a nice neighborhood, one great way to get a fantastic home without paying sky-high prices is by choosing a home in an up-and-coming neighborhood. Communities that are starting to gentrify make it easy to find an affordable home, especially if you buy before the prices start to rise.
Emma Butler Group- Mortgage Tips & Community 