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Mortgage News Roundup

July 31st, 2014

Real estate agent leaningWelcome to almost the end of the week, and the last day of July. In fact, the year is now half over. It’s time to review your resolutions and see how you’re doing and what you still want to do over the next six months. Hopefully one of them was working on improving your credit. And if you’re looking to buy a home, now is definitely the time to start the process of getting pre-approved.

The 30-year fixed mortgage rate steadily rose last week, peaking at 4.17% on Monday before easing back down to the current rate on Tuesday. The Mortgage Bankers Association (MBA) released its weekly report on mortgage applications Wednesday morning, noting a decrease of 2.2% in the group’s seasonally adjusted composite index. That followed a rise of 2.4% for the previous week.

Can You Still Get a Great Deal on a Home

While it may seem like housing prices and mortgage rates are rising, the truth is it’s still possible to get a good deal on a home.

  1. Mortgage rates are still low compared to a few years ago
  2. There were more existing homes on the market in June than at any point since August 2012
  3. There’s considerably less interest in refinancing these days, which means lenders are competing even harder for purchase loans.

So keep looking for possibilities.

3 Splurges Worth the Expense When You’re Selling Your Home

If you’re selling your home and wondering how much to invest in the sale, read on. These three items may seem like a large expense but they pay off big time after the final sale.

Have Your Home Professionally Staged

It’s important to present your home in the absolute best light possible. And people will pay more to buy a home that looks warm and comfortable.

Hire a House Cleaning Service

The professionals know how to get into the cracks and crevices for a deep clean that makes your house seem new. That one missed cobweb could cost you thousands.

Hire a Professional Photographer

Just like weddings, photos of a house for sale are best left to the professionals who are up to date on the latest in technology to really enhance your house. You want those online photographs to pull people in.

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