Holden Lewis, NerdWallet Published 5:48 pm CDT, Tuesday, July 3, 2018 This article was first published on NerdWallet.com. Homebuying will remain competitive from July through September, with the edge going to buyers who act fast. And as mortgage rates rise, some homeowners will feel compelled to tap their equity rather than refinance or sell. Here are three housing and mortgage trends to watch for as summer 2018 slides into fall: Home sales will slacken in the third quarter, creating an opening for assertive home buyers. After rising through the first half of the year, mortgage rates could keep pushing upward — or plateau. The rise in mortgage rates will keep some homes off the market, fueling demand for home equity lines of credit. Home & Real Estate Channel Now Playing: Now Playing Building Houston - The River Oaks The River Oaks, Houston Chronicle Wrigleyville real estate and development ChicagoTribune Pressured to sell? Fox5 Long … [Read more...] about 3 Months, 3 Housing Trends: Fast Buyers, Higher Rates, Tapping Equity
20 year mortgage refinance rates
Photo by Contributed Photo /Times Free Press. Photo by Contributed Photo /Times Free Press. EMJ names Coughran as chief finance officer EMJ Corp., has named Steve Coughran as its chief financial officer. As CFO for the Chattanooga-based construction company, Coughran will serve as advisor and strategic partner to EMJ President and CEO Burt Odom, and work closely with executive leadership to establish short-term and long-term financial strategies, support organizational transformation and maximize financial performance. "We are excited to add Steve's unique set of skills to our EMJ team," said Odom. "Along with established leaders in the finance and accounting department, Steve will provide both financial stewardship and strategic and business leadership to our diverse family of companies. Before joining EMJ, Coughran founded the Coltivar Group where he counseled large and small construction clients on a broad range of services including strategy, organizational structure, … [Read more...] about Business Digest: Westin hotel earns AAA Diamond rating
Published May 24, 2018 Markets Motley Fool Facebook Twitter Comments Print If you own a home, chances are good you have a mortgage. Making mortgage payments can be a source of frustration for homeowners, some of whom will decide to pay off a mortgage early. While owning your home free and clear seems attractive, it's important to consider whether paying off your mortgage early is actually a good financial decision. There's lots to consider, including the psychological benefits of being debt-free, along with the consequences to your net worth if you make the choice to pay down your mortgage quickly. Continue Reading Below Read on to find out if prepaying your mortgage is the right goal or whether you'd be better off in the long term if you invested instead. 8 reasons you should prepay your mortgage Prepaying your mortgage is a huge financial decision that requires weighing all the pros and cons. First, let's take a look at why prepayment might be your … [Read more...] about Pay Your Mortgage Early or Invest?
MoneyTipsIt Will Cost You More to Buy A HomeThe housing market topped a new threshold over the past week. Buoyed by a strong economy and a series of interest rate increases by the Federal Reserve, thirty-year fixed mortgage interest rates reached 4.61% – the highest number since May of 2011.Rates crossed the 4% threshold in the week of January 11 and they have been on a relatively steady rise since then. If this pace continues, we'll hit 5% before the year is out.Should rising interest rates deter you from buying a home? Not necessarily, but it may cause you to re-think your definition of an affordable home.How Much More?To see the effect of higher interest rates, consider this example. Let's assume you're buying a $200,000 house with a 20% down payment. Your monthly principal and interest payment will be $764 at 4% interest, $821 at the current 4.61%, and $859 at 5%. For the $160,000 you are borrowing, the difference between 4% and 5% amounts to over $34,000 in extra interest … [Read more...] about Long-Term Mortgage Rates Hit A Seven-Year High
Q: Why have mortgage interest rates been creeping up over the last few months?A: Recent declines in unemployment to rock bottom levels and the accompanying increase in the inflation rate have induced the Federal Reserve to tighten credit in order to dampen further price increases. The process will continue until the emergence of the next recession, which is overdue.Q: What interest rates predict the direction future mortgage interest rates will take?A: Before the development of secondary mortgage markets, there was an answer to this question. Changes in mortgage rates lagged changes in corporate bond yields by anywhere from two to eight months.Today, however, the mortgage market is so thoroughly integrated into the broader capital market that there are no leading indicators of mortgage rates. Mortgage rates and bond yields change together.A large proportion of all mortgages are placed in pools against which mortgage-backed securities (MBSs) are issued. MBSs trade actively in the market … [Read more...] about The Mortgage Professor: Some questions about mortgage interest rates