My Real Estate Goals for 2021 and 2020 Results!

2020 was a crazy year for many people, but it turned out to be a good year for us business-wise. I had many goals in 2020 including flipping 15 houses, buying 50k square feet of rentals, writing 2 books, possibly buying another car, and more! We did not accomplish all of the 2020 goals but … Read more

Source: investfourmore.com

How Removing Your Name from a Shared Credit Card Affects Your Credit Score

Credit cards exceptional financial instruments. They allow you to buy without any cash and earn rewards while at it. Another interesting feature is the option of adding another person as an authorized user to your card. However, credit card usage does have a huge impact on your creditworthiness. So, does removing your name from a […]

The post How Removing Your Name from a Shared Credit Card Affects Your Credit Score appeared first on Credit Absolute.

Source: creditabsolute.com

Mortgage rates hit another record low at 2.67%

The average U.S. mortgage rate for a 30-year fixed loan fell four basis point this week to 2.67% – the lowest rate in the Freddie Mac’s Primary Mortgage Market Survey’s near 50-year history. This week’s mortgage rate broke the previous record set on Dec. 3 and is the first time the survey has witnessed it fall below 2.7%.

“The housing market continues to surge higher and support an otherwise stagnant economy that has lost momentum in the last couple of months,” said Sam Khater, Freddie Mac’s Chief Economist. “Mortgage rates are at record lows and pushing many prospective homebuyers off the sidelines and into the market.

“Homebuyer sentiment is sanguine and purchase demand shows no real signs of waning at all heading into next year,” Khater continued.

The average fixed rate for a 15-year mortgage also fell last week to 2.21% from 2.26%.

A Tuesday analysis from Fannie Mae’s Economic and Strategic Research group predicted rates would hit their trough at 2.7%, and since the 10-year Treasury yield has remained at or above 90 basis points through the beginning of December, mortgage spreads are continuing to compress.


5 reasons to refinance your mortgage right now

If you’re thinking about refinancing your mortgage, here are five reasons why you might want to act now and reach out to a loan officer.

Presented by: Citi

“While there may be some resistance to the 10-year yield consistently pushing above 1% in the coming months, with vaccination efforts and subsequent stronger economic growth, we expect Treasury yields to move higher over the next year,” the Fannie Mae report said.

Last week, Khater noted mortgage rates managed to retain their record low numbers despite higher Treasury yields – resisting a typical correlation.

A Wednesday statement from the Federal Open Market Committee revealed that the Federal Reserve plans to keep interest rates low until labor market conditions and inflation meet the committee’s standards. Fed Chairman Jerome Powell said to get inflation back to 2% though is going to “take some time.”

Overall, Fed purchases have helped to drive mortgage rates and other loan interest rates to the lowest level on record by boosting competition for bonds, which compresses yields.

With the release of the Fed’s latest intentions, Mortgage Bankers Association chief economist Mike Fratantoni said the MBA now expects the Fed to maintain these low rates at the zero level for years to come.

The post Mortgage rates hit another record low at 2.67% appeared first on HousingWire.

Source: housingwire.com

Closing Costs Scam: How Hackers Steal Homebuyer Cash Via Wire Fraud

For many people buying a home can become a nightmare when hackers target vulnerable systems to hack email accounts and steal their hard earned closing costs

The post Closing Costs Scam: How Hackers Steal Homebuyer Cash Via Wire Fraud appeared first on Bible Money Matters and was written by Peter Anderson. Copyright © Bible Money Matters – please visit biblemoneymatters.com for more great content.

Source: biblemoneymatters.com