24 Jun 2024
By Aadil Nathoo

What’s Ahead For Mortgage Rates This Week – June 24th, 2024

Financial Reports, ,
Currently, the Retail Sales Report is the sole report that has weight. With the passage of more optimistic inflation data reports, retail sales coming in slightly under expectations will have little to no bearing on the overall outlook. Given the last major reports indicating the economy's health and state of inflation, there is more optimism toward a potential rate cut this year. Lending partners have still been quick to continue cutting rates. Consumer Price Index Sales at U.S. retailers barely rose in May, suggesting Americans are feeling the weight of lingering inflation and high interest rates. Sales edged up 0.1%…
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21 Jun 2024
By Aadil Nathoo

How Long Does It Take to Refinance a House?

Mortgage, ,
Refinancing your home can be a smart financial move, offering you the chance to secure a better interest rate, reduce monthly payments, or even tap into your home's equity. However, one of the most common questions homeowners have is: "How long does it take to refinance a house?" While the timeline can vary based on several factors, here's a general overview to help you understand the process. 1. Preparing to Refinance (1-2 Weeks) Before diving into the refinance process, it's essential to get your finances in order. This preparation phase can take one to two weeks and involves: Reviewing your…
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20 Jun 2024
By Aadil Nathoo

Home Mortgage Application: Understanding Proof of Income

Mortgage, ,
Buying a new home is exciting, but it comes with a fair share of paperwork, especially when applying for a mortgage. One crucial component lenders will analyze is your proof of income. Let's take a look at what proof of income involves, document examples, and where to find them. What is Proof of Income? Proof of income is documentation that verifies your earnings. Lenders require this to ensure you have a steady income stream capable of covering your mortgage payments. This documentation provides lenders with a clear picture of your financial health and helps them determine how much you can…
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19 Jun 2024
By Aadil Nathoo

A Commitment to Diversity and Inclusion

Holidays, ,
This historic day commemorates the emancipation of enslaved African Americans in the United States, and it’s more relevant now than ever as we strive to promote diversity, equity, and inclusion in everything we do. Juneteenth, celebrated on June 19th each year, marks the day in 1865 when Union soldiers arrived in Galveston, Texas, bringing the news of freedom to the last remaining enslaved African Americans. It’s a poignant reminder of both the injustices of the past and the ongoing journey towards equality. We believe in honoring this day not just with words, but with meaningful action. Supporting Juneteenth is about…
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18 Jun 2024
By Aadil Nathoo

Exploring 5 Types of Refinance Loans

Mortgage, ,
Refinancing your mortgage can be a smart financial move, offering potential savings, access to cash, or improved loan terms. With various refinancing options available, it's essential to understand what each type entails to make an informed decision. Let's look into five popular types of refinance loans: Rate and Term Refinance, Cash-Out Refinance, Cash-In Refinance, Home Affordable Refinance Program (HARP), and Short Refinance. 1. Rate and Term Refinance What is it? A Rate and Term Refinance allows you to change the interest rate, loan term, or both without altering the loan amount. Benefits: Lower Interest Rates: Securing a lower interest rate…
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