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4 Things Every Borrower Needs to Know About Mortgage Brokers

Buying a home in Utah, whether for the first time or the last, is an exciting event. Yet before you even take a look at a single home for sale, it is a smart idea to have your mortgage financing lined up. While it is possible to get a home loan directly with your local credit union or bank, the most common mortgage-makers are mortgage brokers. If you are ready to apply for a home loan, here are 4 things you need to know about mortgage brokers before starting the process. A broker is a middleman Mortgage brokers act as go-betweens for you and many different potential lenders. Instead o...

June 20th, 2018 | mortgage brokers, 4 Things Every Borrower Needs to Know About Mortgage Brokers

Should I Rent or Buy?

While homeownership has long been the American dream, buying a home is not necessarily the best choice for every person or every situation. There are many factors to consider in determining if a home purchase is the right decision for you right now. Can you Afford It? If the cost to own a home – mortgage, homeowners insurance and property taxes included – if less than roughly 28% of your gross income and you have few other debt obligations, you can probably afford to buy. Do not underestimate the additional costs of maintenance though. Replacing appliances or paying for a plu...

June 14th, 2018 | Purchasing a Home, Should I Rent or Buy?

4 Reasons You Don’t Want to Pay PMI

Years ago, a 20% down payment was a requirement for obtaining a mortgage loan. Putting that much money down made it less likely that borrowers would simply default on their home loans and gave lenders a measure of security and collateral in the case of foreclosure. However, in more recent years, lenders have gotten much more creative in financing to help more Americans become homeowners. There are now mortgage loans that require as little as 3% down up front. In order to compensate for that added risk of loss, lenders require and borrowers with a down payment of less than 20% to pay for pri...

June 7th, 2018 | First-time Homebuyers, 4 Reasons You Don’t Want to Pay PMI

Mortgage Interest rate news, mortgage blog, interest rate blog

April 23, 2014; 9:15am Good morning! Interest rate trends: Today – Lower; 10 days – Flat; 25 days – Flat Interest rate recommendation:  Floating Mortgage bonds (MBS’s) are doing well this morning on worse than expected New Home Sales.  March New Home Sales plunge by 14.5% to an annual rate of 384,000, well below the 455,000 expected.  Yesterday’s Treasury auction garnered a C- rating, not too good, and today’s $35 billion auction of 5 year notes will likely be not so good either.  Mortgage bonds were fairly resilient to yester...

April 23rd, 2014 Mortgage Interest rate news, mortgage blog, interest rate blog

Mortgage Interest rate news, mortgage blog, interest rate blog

April 22, 2014; 9:15am Good morning! Interest rate trends: Today – Flat; 10 days – Flat; 25 days – Flat Interest rate recommendation:  Locking bias Mortgage bonds (MBS’s) are currently flat, but worsening.  Yesterday we saw a worsening trend from morning throughout the day.  We expect the worsening trend to continue, but only just a little.  We are changing to a locking bias until news comes that cause bonds to change course.  March Existing Home Sales came in 0.2% lower than February and the lowest since July of 2012.  The Rich...

April 22nd, 2014 Mortgage Interest rate news, mortgage blog, interest rate blog

Mortgage Interest rate news, mortgage blog, interest rate blog

April 21, 2014; 9:15am Good morning! Interest rate trends: Today – Lower; 10 days – Flat; 25 days – Flat Interest rate recommendation:  Floating Mortgage bonds (MBS’s) are doing well this morning after last weeks sell off worse.  There are no economic reports due today and the week is light on news.  The U.S. Treasury will auction $96 billion in debt, but they are short term notes, so we are not too worried about them.  Interest rates are mostly the same as they ended last week, not much change.  We will get to see Existing Home sale...

April 21st, 2014 Mortgage Interest rate news, mortgage blog, interest rate blog

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