Category Archives: Mortgage, Insurance & Taxes

Interesting Turn In Real Estate Market Place

Fannie Mae’s report the , “Weekly Note” which was released this past Friday (11/18/16) shows an interesting, if not fickle housing market in the single family home sector. According to Fannie Mae, “Through the first ten months of the year, single-family starts are 10.0 percent higher than the same period a year ago”. “Single family starts” are new construction of single family dwellings and does not include existing properties. Fannie Mae is a government sponsored...
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Mortgage Rates and the Talking Heads

In 1980 the band the “Talking Heads” had a hit song called, “Once in a Lifetime”. One of the repeating lyrics of the song was, “Same as it ever was. Same as it ever was”. Who would have ever thought that 37 years later that the David Byrne lyric would be used to describe the mortgage rates! For the third straight week BankRate.com is reporting that the average rate for a 30 year fixed mortgage is at 3.56 percent. And the forecast for that 3.56...
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June Crystal Coast Real Estate Report

We’ve got to spread the good news! Mortgage rates have nose-dived and are at near historic low levels. The opportunity is now to get interest rates that may not be seen again. Residential property inventory in some of the prime locations along the Crystal Coast are at supply levels not seen in 10 years that make sales conducive for both the seller and buyer. Mortgage Rates In terms of buying a home and getting a 30 year fixed mortgage, now is almost a once in a lifetime...
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Mortgage Applications Soar. Rates Inch Up Slightly

If mortgage applications are the indicator of the over-all health of the real estate market place then last week proved to be a huge shot in the arm. Not only are week over week applications up, but year over year comparisons showed a drastic improvement. And it wasn’t driven by those seeking to refinance their homes. The mortgage application surge came from homebuyers! Diana Olick with CNBC reports, “Mortgage applications to purchase a home drove total volume, rising 5 percent for the week, seasonally adjusted,...
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Bad Economic Outlook Means Great Real Estate Prospects

Fannie Mae, who is a “leading source of financing for mortgage lenders”, has just released poor economic outlook that actually holds some very wonderful news for those trying to sell or buy a house! In their recent report titled, “Economic Growth Outlook Subpar Again as 2016 Progresses. Consumers and Businesses More Cautious Amid Slowdown in Labor Market” Fannie Mae states that their, “full-year economic growth forecast” has been lowered to “1.7 percent, down from 1.9 percent growth in...
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Are Mortgage Rates At Lowest Level Ever?

Money.CNN is reporting on some very big mortgage rate news. In a video report titled, “Will You Ever See Mortgage Rates This Low Again” the host in this brief news segment talks about 3.59 percent rates for a 30 year mortgage and 2.88 percent for 15 year loans. The subtitle beneath the video reports says, “If you're looking to buy a home this spring, you're [sic] timing couldn't be better. Mortgage rates are hitting their lowest levels in years.” The news reports ends with this important thought....
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Mortgage Lending Requirements Eased

Have you been thinking about buying a home but haven’t due to restrictive mortgage loan requirements? Well, now may be the time to reconsider and take advantage of the still low interest rates. According to some of the latest reports released by several federal agencies, obtaining a mortgage may have just gotten easier for you. According to the Federal Reserve Board and their latest “Senior Loan Officer Opinion Survey on Bank Lending Practices”, it appears that banks have been easing their requirements for consumers to get...
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FEMA Drafting New Flood Zone Maps

The Federal Emergency Management Agency (FEMA) is currently drafting new flood zone maps. The proposed changes will greatly affect many residence of Carteret County and the Crystal Coast. The last time flood zone maps were updated was back in 2003 using information dating back to the 1980’s. The greatest area of proposed change will impact those properties in the V flood zones along our coast line. V flood zones require a more stringent set of building codes and...
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