Mortgage Guide 101 Blog

April 2006 - Posts

In my reading on environmentally friendly ways of dealing with housing and renovation, I think I've come across the ultimate: an architect by the name of John Johnston has renovated his own home and used cardboard for the walls between rooms. Yes, you Read More...
Posted on April 28,2006

I found a great set of advice for those who are out there looking for their first home. Here's my synopsis of the best points: 1. Find a knowledgeable realtor and work with that person. After all, their assistance to the buyer is "free", and you'll get a Read More...
Posted on April 27,2006

So, the market where you are is softening and you're wondering about that investment property you've got? In some cases, investors will try to convert their strategy from a quick flip at a profit, to renting out a property. Frankly, if you bail out, it Read More...
Posted on April 25,2006

Canada is experiencing a huge housing boom -- in cottages! Waterfront recreational properties are the new big sellers, thanks to the money of retirees trading in expensive homes and cash-rich investors from the resource sector. The over-50 crowd are Read More...
Posted on April 23,2006

We haven't seen rates this high in 4 or 5 years. Freddie Mac says the average 30-year fixed rate among the lenders it surveys was 6.49 percent. Rates are now at the July 2002 level, when the monthly average was also at 6.49 percent. But the change is not Read More...
Posted on April 22,2006

As the summer selling season comes up, so do most people's mortgages. Is your ARM about to expire? Is your fixed rate coming to an end? Here's something to think about, as you shop for your next mortgage. The interest you pay on your mortgage can double Read More...
Posted on April 21,2006

Wondering who's hot and who's not? The LA Times says that Los Angelos County is still hot. The median home price is apparently $560,000. (That's a little rich for my blood.) The median price has hit this record high from a level of $230,000 just 4 years Read More...
Posted on April 19,2006

As we look at more record prices for a barrel of oil, we may see impacts which go beyond our gas tanks or our home heating oil bill. We may actually see this put pressure on the prices of homes. This pressure makes perfect sense. Frankly, sky-high Read More...
Posted on April 18,2006

I'm always watching the real estate news. Here's something interesting I read in the online real estate news: Apparently, the global bond market has a lot to say to our interest rates for mortgages. Not only does it have influence, it's making that Read More...
Posted on April 17,2006

Perhaps the toughest thing when trying to decide on a property is deciding what to offer the seller. In some markets (where the seller has the advantage) you can find yourself in a bidding war in an attempt to get a property. In markets where the selling Read More...
Posted on April 14,2006

I've been hearing more about identity theft again. Seems the prime targets for identity theft are people who make more than $100,000 a year. Apparently, crooks cruise both middle class and upper class neighborhoods (assuming that people who live there Read More...
Posted on April 12,2006

Your credit score largely determines what interest rate you pay. It's that simple. It's also why you need to be sure that the information that the credit reporting bureaus are keeping on you is as accurate as possible. Errors are easy. Somehow, the Read More...
Posted on April 11,2006

Oh, oh. Spring fever struck hard. We started going to open houses, and cruising the real estate pages. We looked at our combined salary and started to calculate the cost of mortgages... You guessed it. We've been caught by the buying bug! And wouldn't Read More...
Posted on April 10,2006

Have you heard of this? Some companies are actually giving buyers a rebate if they buy through them! Here's a list:Redfin; BuySide Realty; Zip Realty; RebateReps.com; LendingTree.com and RealEstate.com. This is an old tactic made new, to entice buyers to Read More...
Posted on April 7,2006

If the market in your area is cooling (and some definitely are), there are new "rules" for navigating the buying, selling and investing in those markets. It's not the same old game as when the market was virtually guaranteeing that prices would go up. Read More...
Posted on April 6,2006

Here's one of those infrequently discussed problems with refinancing: what if the value of your home goes down and you actually owe more on your mortgage than you could get if you sell it? In some cases, if the value of your home isn't sufficient, it Read More...
Posted on April 3,2006

Have you ever stopped to wonder about points on mortgages? I certainly have. Rumor has it that there was a time when the interest rate you paid was simply the interest rate you paid, and there wasn't any "point" that you could "buy" to reduce that rate. Read More...
Posted on April 2,2006
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