Since April 1971, Freddie Mac has surveyed lenders across the nation weekly to determine the average 30-year fixed-rate mortgage rate. The purpose of the Primary Mortgage Market Survey® (PMMS®) is to survey lenders each week on the rates and points for their most popular 30-year fixed-rate (and other various loan products offered by lenders including: … More A Glance at Historic Interest Rates
The lending environment has changed drastically over the past three years. Now more than ever, lenders are very nervous to lend money and are tightening their guidelines. The process to obtaining financing for a home is extremely difficult and often times painful. I have listed below actions to avoid before applying for a mortgage loan … More 10 Things to Avoid When Applying For A Loan
Recently, Realtor Magazine published an article called “Clearing the Closing Hurdles.” This article named the 5 of the most common problems that are causing closing delays. They are: Financing falls through at the last minute Appraised value doesn’t support contracted sales price New lending and closing regulations create delays Title can’t be transferred at closing … More How to: Minimize Closing Delays
In a recent WSJ article “Close First, Then Splurge” by Jonnelle Marte, it urges buyers who are in the process of purchasing a home to not change their financial picture that they gave when they first submitted their loan application with their lender. It is very important to not go out and make major purchases … More Buyer Beware: Don’t Splurge Before Closing
LESLIE MONACO REAL ESTATE 