Bi-weekly mortgage payments reduce the term of the loan, reduce interest payments, and apply more to the principal loan balance. Bi-weekly payments are equivalent to making one extra mortgage payment per year because there are 26 bi-weekly periods in a year (13 monthly pmts). Taking advantage of an “extra” payment each year of a 30-year [...]
Austin Homes Sales Volume Down Due To Tax Credit; Price Continues to Slowly Rise Austin Board of REALTORS® releases April 2011 real estate statistics May 19, 2011 – According to the Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS®, 1,690 single-family homes were sold in the Austin area in April 2011, 16 percent fewer [...]
Vast Majority of Americans Favor Home Ownership: Despite a historic real-estate market upheaval that sent foreclosure rates skyrocketing and home values plummeting, Americans still have a deep attachment to homeownership. Furthermore, they consider homeownership an integral part of an American Dream in which they still believe, according to poll results announced today by The Allstate [...]
Mortgage backed securities (MBS) lost -42 basis points last week which caused 30 year fixed rates to move higher and closed at their highest levels of 2011. As we have discussed several times, mortgage rates are pushed lower when the economy is performing poorly and their is little to no risk of inflation. So, as the economy [...]
Average rates on 30-year fixed-rate mortgage expected to jump above 5% By Amy Hoak, MarketWatch Last Update: 4:47 PM ET 10/26/10 ATLANTA (MarketWatch) — Mortgage rates may be as low as they’ll get — rates are on course to rise, slowly moving toward 5% by the end of next year, according to the Mortgage Bankers [...]
3rd Fastest-Growing City: Austin, Texas Change in Population, 2000-2008: 32.2% The capital of Texas, also known as the “live music capital of the world” for events such as the Austin City Limits annual music festival, Austin ranks as the third fastest growing city in the nation by population. Increasing in population by almost a [...]
REBOUND OR DOUBLE DIP? DOTZOUR’S 2011 FORECAST COLLEGE STATION (Mays Business School) – As much of the nation ponders whether the country is in rebound mode or headed for a “double-dip” recession, Real Estate Center Chief Economist Dr. Mark Dotzour sees definite signs of hope for the economy. “There are signals that the economy is trying [...]
If you are looking for a larger home, you most likely will need a larger mortgage. If you need to borrow more than $417,000, a jumbo or blended jumbo mortgage may be your best option. Jumbo mortgage programs can give you the extra borrowing power you need, but the costs and guidelines may differ from [...]
From Application to Closing Once you’ve submitted your mortgage application and received a decision, the steps leading up to your closing will be unfamiliar. We want you to know what to expect. Prior to closing on your new home, you’ll need an appraisal, a home inspection, home insurance and title insurance. PreApproval [...]
I found this and thought it might be good info. What is title Insurance? Title insurance is the application of insurance to hazards in real estate titles. What is “Title”? “Title” is the foundation of ownership of property. It means that you have a legal right to possess that property and to use it within [...]
