mortgage interest

This tag is associated with 38 posts

July numbers are in …

General economic uncertainty aside, I believe that buyers who stay on the sidelines over the next six to twelve months — especially in the Austin area — will find that they missed the best opportunity to become homeowners we have seen in many years.
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Mortgage interest rates and monthly payments

Let’s say the rates bounced “all the way” up to 6%. What would that mean to the average homebuyer? To answer that, consider buying a $200,000 home (near the median in Austin), with a 3.5% down payment on a 30-year fixed rate FHA loan. Here’s what happens to the monthly payment (principal and interest only) as rates go up. Continue reading

So what about the debt ceiling?

Politics aside, I don’t see any practical reason that interest rates should spike next week based on what happens in the debt ceiling debate. I certainly believe we will have higher rates over the next year or two, but that will have almost nothing to do with all the noise coming from Washington now. Continue reading

Benefits Of Home Ownership

Times and markets may have changed in recent years, but the benefits of being a home owner rather than a renter are still the same. (And it’s a great time to buy now!) Continue reading

Another reason to buy soon!

This change will be effective on loans issued on or after April 18, 2011. That’s just sixty days away — plenty of time to find and purchase the right home, but not much time to remain uncertain about whether to buy or not. If home ownership is in your plans, and if you can qualify for a mortgage loan today, now is the time to get busy. Continue reading

Will higher interest rates cost you your dream home?

The difference between 5% and 6% mortage rates is about $125/month, or almost $20,000 in purchasing power. There is a real cost to delay while interest rates are increasing — an it looks like that’s the direction of change this year. Continue reading

Mortgage Interest Rates — Historical Perspective

Mortgage rates are rising, but still at 40-year lows. With prices also likely to increase, NOW it is the time to buy a home! Continue reading

Mortgage Rates, Payments, and Buying Power

It looks like mortgage rates will really keep rising this time. If you wait until rates increase to 6%, you will have lost more than 20% of the buying power that you qualified for just a few weeks ago! Continue reading

Foreclosure myths …

If it’s your time to buy or sell, don’t wait for some imaginary sea-change in the Central Texas real estate market. The outlook for home values and mortgage interest rates us UP, and we are not facing a flood of low-priced properties in the coming months. Make your move because it’s right for you, not because of external factors you read or hear about. Continue reading

Austin-Area Pending Home Sales

Pending home sales were down in September, but the Austin metropolitan area shows signs of strength. Continue reading