Back to Normal?

Why consider ARMs (adjustable-rate loans)?  Rates are much-lower than fixed-rate loans and most homeowners don't stay in their home for 30 years. ARMs can be particularly appealing those approaching retirement age or anyone planning to sell their homes within a relatively short period of time.  Professionals completing a residency or internship program who wants to build equity should consider this option.  Even better news is the pendulum is swinging away from "restrictive" credit and back toward normalcy. The risk, of course, is the pendulum swings too far toward "easy" credit and buyers feel compelled to take ARMs as home-price appreciation and higher rates have made homes far less affordable today compared to a year ago.  It's a balance for this pendulum so it is always better to discuss your specific situation with a Mortgage Broker to truly understand your best options. 

Homes will appreciate 4.5% in 2014

According to Money's latest poll from February, Americans' average mortgage debt in 2013 was $149,925. The good news for all home owners is that the average home appreciation projected for 2014 is 4.5% Great news if you are interested in refinancing this year!

As predicted, Mortgage rates were sharply higher today.  Hope everyone floating locked last week as per my last post.  As concern grew over geopolitical tension in Ukraine, Mortgage rates went from best levels in a month to the worst levels in more than a week.

Time to Lock in Rates - Reversing Trend

Time to lock in rate if floating. Analysts predict rates creeping upward next week.  Rates gradually increased end of 2013, became lower in January and now reversing trend