What is a “HENRY”? It stands for “High Earner Not Rich Yet” — This term is used to describe individuals who have landed lucrative six-figure jobs out of college, but haven’t been able to save enough…
Home Owners have been asking this since 2012 when our economy was in recovery mode. The quick answer, not much longer. Interest rates are at historical lows
Unfortunately, the program didn’t live up to expectations…. of the 5 million homeowners it was expected to help – less than 1/10th of this number actually took advantage – primarily due to appraisal values.
Interest rates are at extreme lows, enabling people to either refinance their mortgage or get qualified to purchase a new home. The problem is, however, that appraisal values are consistently coming in lower – a clear indication that real estate values have not hit rock bottom just yet.
Las Vegas has long been a Mecca for gamblers, but now has become the go-to place for real estate investors looking to cash in on the massive down-turn the city has experienced over the last several years. Not only are home prices way down, but interest rates are near all-time lows while rents are climbing. Las Vegas has the highest foreclosure rate in the nation — and many of those former homeowners now rent.
The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.
I found this video online. It is a very easy to understand outline of how the credit crisis came to be – definitely worth your time to view.
Mortgage Brokers work as the “middle men” between the borrower and the bank securing wholesale rates for their clients. They typically get paid by the wholesale banks (also known as a “Rebate” or “Yield Spread Premium”), depending on what kind of rate they secure for the borrower.
When the Fed initiated the stimulus program to purchase billions of dollars worth of Treasury Securities, mortgage interest rates were expected to lower as investors began buying up these MBS (Mortgage-Back Securities)… and they did. However,…
To say that interest rates are low is an understatement. If you compare interest rates of today to the last 40+ years, you’ll see why so many people are in a frenzy to either buy a…