Market Update – February 24, 2020

LOW RATES ALERT!!! Many attribute the recent drop in rates to coronavirus fears, but how does a biological hazard relate to such an alarming rate drop? China represents 21.95% of the world’s GDP, and this event deals a huge blow to their international commerce. As such, the global markets are currently in turmoil as many don’t
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Market update – December 13, 2019

Phenomenal rates are allowing more than 6.8 million homeowners to refinance and save!  As of December 5, 2019 Freddie Mac indicates, average 30-year fixed mortgage rates are 3.68% with 0.5% fees/points. The unemployment rate remained near historical lows at 3.6%.  With all the great economic news in the market, the US housing market forecast remains strong
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Fed lowered the rate. What now?

Yet again, the Fed lowered another 0.25% rate yesterday which was anticipated by the market gurus. What does this do to the mortgage rates? According to Freddie Mac, the 30-year fixed rate mortgage is currently at 3.73%, up 17 basis points from last week. The dropping rates phenomenon got drastic turned since September 5. It’s
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Keep or Sell your old property

After retirement age many people sell their family homes for enough money to buy a smaller, more manageable home.  It begs the question of whether to use equity built throughout the years to pay in full or take on a new mortgage to buy a house you want. On one hand, the thought of utilizing
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Residential V.S. Commercial Loans

There is often some confusion when it comes to choosing a Commercial or a Residential loan.  Even though they use the same mortgage system, there’s a completely different set of rules for each one. Residential loans are for one to four-unit homes, condominiums and townhouses.  Commercial loans will cover everything else, such as 5+ unit
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