08 Apr 2024
By Aadil Nathoo

What’s Ahead For Mortgage Rates This Week – April 8th, 2024

Financial Reports, ,
With the upcoming CPI and PPI reports this week, last week still had a number of important data points to consider. First, the non-farm payroll data, helping reveal the situation of pay versus inflation data giving an overall description of the state of the economy in the future.  Among that, the manufacturing data has shown to be contracting the past year, with the first signs of relief this month. Lastly, trade data has shown that the trade deficit has grown bigger than expected with Q1 coming to completion.  All of these are broader indicators of the state of the economy…
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04 Apr 2024
By Aadil Nathoo

Choosing the Right Mortgage Term

Home Mortgages, ,
You're about to start on an exciting journey toward homeownership. But before you dive headfirst into the world of real estate financing, there's an important decision you'll need to make which is choosing the right mortgage term. The mortgage term refers to the length of time you commit to a specific mortgage rate, lender, and conditions. It's a critical aspect of your mortgage because it determines how long you'll be making regular payments and the total amount of interest you'll pay over the life of the loan. Here's a comprehensive guide to help you navigate the process of choosing the…
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03 Apr 2024
By Aadil Nathoo

Understanding Interest-Only Mortgages

Home Mortgage, ,
What exactly is an interest-only mortgage? Simply put, it's a type of home loan where you pay only the interest for a certain period, typically the first five to ten years. After this initial period, you begin paying both the principal and interest, resulting in higher monthly payments. Weighing Your Options Pros: Lower Initial Payments: One of the primary attractions of interest-only mortgages is that during the initial period, your monthly payments are significantly lower compared to traditional mortgages. This feature can be particularly appealing for buyers looking to ease into homeownership without straining their finances. Flexibility: Interest-only mortgages offer…
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02 Apr 2024
By Aadil Nathoo

Exploring the HECM Reverse Mortgage Program for Seniors

Mortgage, ,
For many seniors, home equity represents a substantial portion of their wealth. However, accessing this equity while maintaining homeownership can be challenging. This is where Home Equity Conversion Mortgage (HECM), commonly known as a reverse mortgage, emerges as a potential solution. We will discuss the HECM program, shedding light on its features, costs, and potential risks, to help seniors make informed decisions about their financial future. Understanding HECM HECM is a federally-insured reverse mortgage program designed for homeowners aged 62 and older. Unlike traditional mortgages, where homeowners make monthly payments to lenders, HECM allows seniors to convert a portion of…
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01 Apr 2024
By Aadil Nathoo

What’s Ahead For Mortgage Rates This Week – April 1st, 2024

Financial Reports, ,
As expected from the prior inflation reports with CPI and PPI, the PCE index had also shown the same corollary among its data points, reporting a higher than expected increase for the month of February across all products. In addition, the Chicago PMI had shown a declining trend of activity among businesses for the 6th week in a row. All this points to that there might be a case for the Federal Reserve to continue holding rates in the next rate decision coming up in the summer of 2024. There has been much speculation that the Federal Reserve will begin…
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