16 Jun 2020
By Aadil Nathoo

The Most And Least Expensive Cities In America

Mortgage, ,
The cost of living in America varies widely in different parts of the country. In general, it is less expensive to live in the country than in the cities. However, there are many cities where the cost of living is modest compared to others where the money needed to live there is outrageous in comparison. These rankings came from comparing the monthly cost of renting a one-bedroom apartment, utilities, the price for gasoline, and the cost of groceries. The Ten Lowest-Cost Cities For Renters From Texas and Ohio to New Mexico and Arizona, there are some nice cities in this…
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15 Jun 2020
By Aadil Nathoo

What’s Ahead For Mortgage Rates This Week – June 15, 2020

Financial Reports, ,
Last week’s economic reporting included readings on inflation, the post-meeting statement from the Fed’s Federal Open Market Committee, and consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released. Inflation Ticks Up in May May’s Consumer Price Index moved from April’s reading of -0.80 percent to -0.10 percent. The Core Consumer Price Index, which excludes volatile food and energy sectors, rose to -0.40 percent in May as compared to April’s reading of -0.40 percent. The Consumer Price Indices are used to calculate overall and core inflation rates. The Federal Reserve uses an annual inflation rate of 2.00…
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12 Jun 2020
By Aadil Nathoo

Fed’s Open Market Committee Holds Key Rate Steady

Financial Reports, ,
The Federal Reserve’s monetary policy committee decided against changing the Fed’s benchmark interest rate range of 0.00 to 0.25 percent. The Federal Open Market Committee said in its post-meeting statement that it is not considering raising rates until 2023. Two of 17 FOMC members felt that the Fed’s key rate may rise in 2022. Fed Approves Quantitative Easing Measures Committee members also stabilized the Federal Reserve’s ongoing purchases of Treasury bills and mortgage-backed securities and said that the Fed would purchase Treasury bills and mortgage-backed securities “at least at the current pace.” The Fed was tapering its purchases before the…
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11 Jun 2020
By Aadil Nathoo

Buying A Home: You Might Be Able To Skip The Home Appraisal – But Should You?

Mortgage, ,
When someone is thinking about buying a home, one of the key parts is the home appraisal. The appraisal ensures that the buyer is paying a fair price for the home while also protecting the mortgage lender against taking a loss. On the other hand, an appraisal is also an added cost of the buyer can be a serious source of stress for both sellers and brokers. Recently, government agencies have passed a rule saying that home appraisals are no longer going to be required on homes that are less than $400,000; however, many lenders will still require them. Therefore,…
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10 Jun 2020
By Aadil Nathoo

7 Reasons To Buy A Home In The Summer Months

Mortgage, ,
If you've been putting off your house hunting, it's time to head out. Summer is the best season to go shopping for a new home, for a variety of reasons.  1. More Inventory Homeowners list their homes for sale in the summer more often than any other season. When you shop for a new home during this time, you'll have a much wider selection of homes to choose from.  2. Better Prices More inventory in summer often turns the local real estate scene into a buyer's market. Home sellers may have to compete with other sellers on the same block…
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