Third Party Real Estate Sites

I have been working in real estate for all of 2 months...I went to school in 2005 to become a real estate agent and somehow on that path I ended up here. JK Realty doing the website, social media, print, etc...you kinda get the picture...I will tell you what I have come to as my conclusion about the real estate industry...you ready for this...wait for it...CHAOS!!!

Four Keys to Getting a Loan Today

Landing a mortgage in today’s tight credit market can be as tough as trying to find a job in today’s economy.

That’s no joke.

One in five homebuyers said waiting to hear if they were approved for a mortgage was more stressful than waiting to hear if they got a job, according to a MortgageMatch.com survey earlier this year.

Home Ownership Matters

Home Ownership matters…to people, to communities, and to America. Why?

• For every two homes sold, one job is created in the U.S.

• Each purchase generates as much as $60,000 in economic activity over time.

HUD Housing

HUD Housing: A Historic Housing Conglomerate

The roots of the United States Department of Housing and Urban Development (HUD) were planted as early as the 1930s beginning with the Emergency Relief and Construction Act of 1932 which created the Reconstruction Finance Corporation (RFC) during the Great Depression. It was the first time the federal government got directly involved in the nation’s housing market. HUD housing soon evolved into a housing conglomerate.

Mortgage Rates Fall Again on Rising Unemployment

According to the newest Freddie Mac Primary Mortgage Market Survey, fixed-rate mortgages edged down after weak jobs report. Today’s release shows that mortgage rates are following long-term bond yields lower, while the unemployment rate increases.

“The economy added 18,000 jobs in June, well below the market consensus forecast, and the unemployment rate rose to 9.2 percent, the highest since December 2010. In addition, employee wages stagnated. These factors may lead to less consumer spending, which in turn, reduces the threat of inflation in the near term.” Freddie Chief Economist Frank Nothaft said.

Although fixed-rate mortgages are at some of the lowest levels this year, many home shoppers still can’t take advantage of these rates because of the tighter lender standards and higher down payment requirements.

The average rate for 30-year fixed-rate mortgages (FRMs) dropped to 4.51 percent from the previous week, when it was 4.60 percent.

This week 15-year fixed rates averaged 3.65 percent, down from last week when it averaged 3.75 percent. A year ago at this time, it averaged 4.06 percent.

Rates on adjustable-rate mortgages also fell this week, but not as much.

The rate for 5-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 3.29 percent this week, a one percent difference from last week when it averaged 3.30 percent. A year ago, the 5-year ARM averaged 3.85 percent.

Additionally, 1-year Treasury-indexed ARMs averaged 2.95 percent this week, down from last week when it averaged 3.01 percent. At this time last year, the 1-year ARM averaged 3.74 percent.

To obtain the rates, 30-year mortgages required the payment of an average 0.7 points in fees, while 15-year fixed-rate and 5-year ARM required 0.6 points, and 1-year ARMs required 0.5 points.

About Brandon Swanson

Brandon Swanson is the Social Media Moderator for MortgageMatch.com.