10
Jul
By Todd Grey
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – July 10, 2023

Last week’s scheduled economic reporting included readings on construction spending, June’s FOMC meeting minutes, and reports on jobs and the national unemployment rate. Weekly readings on mortgage rates and jobless claims were also released. Construction Spending Increased in May The Commerce Department reported spending for construction rose to 0.90 percent in May as compared to a month-to-month increase of 0.40 percent posted in April. The year-over-year reading showed $1.93 trillion in construction spending in May. April’s data was revised downward from the original reading of 1.20 percent growth to 0.40 percent growth in construction spending. Readings for construction spending include…
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07
Jul
By Todd Grey
Home Mortgage,

Concerns To Address When Choosing The Right Mortgage Lender

Choosing the right mortgage lender is a crucial decision when you're considering purchasing a home or refinancing your existing mortgage. With numerous lenders available in the market, it's important to carefully evaluate your options to ensure you select a lender that suits your needs and financial goals. Interest Rates and Terms: One of the primary factors to consider is the interest rate offered by the lender. A lower interest rate can significantly impact your monthly mortgage payments and overall affordability. Compare rates and terms from different lenders to determine the most favorable options for your financial situation. Lender's Reputation and…
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06
Jul
By Todd Grey
Mortgage, ,

How To Beat High Inflation with a Home Purchase

Inflation can erode the value of your savings over time, and one way to hedge against inflation is by investing in assets that appreciate in value over time. Real estate is often considered a good hedge against inflation, as property values tend to rise in line with inflation. Here are some ways a home purchase can help beat high inflation: Lock in a low-interest rate mortgage: High inflation often leads to higher interest rates, but if you lock in a low-interest rate mortgage when inflation is low, you can benefit from lower mortgage payments even if interest rates rise in…
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05
Jul
By Todd Grey
Home Buyer Tips, ,

The Role of Escrow in Real Estate Transactions

Purchasing or selling a property is a significant financial transaction that involves numerous parties, legalities, and a substantial amount of money. To ensure a smooth and secure process, the real estate industry relies heavily on a mechanism known as escrow. Understanding Escrow Escrow refers to a neutral third-party entity or professional, typically an escrow officer or a title company, entrusted with holding and disbursing funds and documents during a real estate transaction. It acts as a safeguard, ensuring that all parties fulfill their obligations and that the transaction progresses smoothly. How Escrow Works Once the buyer and seller have agreed…
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05
Jul
By Todd Grey
Home Buyer Tips, ,

The Role of Escrow in Real Estate Transactions

Purchasing or selling a property is a significant financial transaction that involves numerous parties, legalities, and a substantial amount of money. To ensure a smooth and secure process, the real estate industry relies heavily on a mechanism known as escrow. Understanding Escrow Escrow refers to a neutral third-party entity or professional, typically an escrow officer or a title company, entrusted with holding and disbursing funds and documents during a real estate transaction. It acts as a safeguard, ensuring that all parties fulfill their obligations and that the transaction progresses smoothly. How Escrow Works Once the buyer and seller have agreed…
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