Blog – Page 319 of 324 – DiversiFund Texas, LP

19 Jul 2017

NAHB: Builder Confidence in Market Conditions Dips in July

Home Values

According to the National Association of Home Builders, July builder sentiment dipped to an index reading of 64 as compared to June’s revised reading of 66, the original reading was 67. Analysts expected the reading for July to increase to 68. Builders cited increasing lumber prices as a concern affecting builders’ outlook on housing market conditions for new single-family homes. Any reading over 50 for the NAHB Housing Market Index indicates that more builders than fewer are positive about housing market conditions, but July’s reading was the lowest in eight months. NAHB said that home builder confidence in market condition “remains strong.”

Three month rolling averages were mixed. The Northwestern region gained one point for an index reading of 47, the Midwest gained one point to a reading of 66 and the Southern region dropped three points to a reading of 66. The Western region had the highest level of builder confidence but lost one point for a reading of 75.

Shortages of homes for sale and buildable lots have impacted builder confidence for several months. As the number of available homes dwindles, demand and home prices have risen. Real estate pros view building more home as the only solution for easing the shortage of homes for sale Lower readings on builder confidence in market conditions could indicate slowing in the construction of new homes.

Lumber Tariff Raises New Home Prices, Could Cost Jobs

While home builder confidence jumped in the aftermath of the election, builders said that a tariff on Canadian lumber is affecting home prices and construction jobs. In a statement released with July’s Housing Market Index readings, NAHB said that the lumber tariff tacked on an average of $1236 to the average home price. NAHB leaders also said that as materials costs continue to rise, affordability will become an issue and that construction layoffs could potentially exceed 8000 jobs.

NAHB Chairman Granger MacDonald said about the lumber tariff, this is hurting housing affordability even as consumer interest in the new-home market remains strong” While current interest in new homes is healthy, home builders will have to manage costs to keep home prices affordable and competitive.

18 Jul 2017

By support

Going Green(er): 3 Common Waste Items You Had No Idea You Can Recycle

Around The Home

Going Green(er): 3 Common Waste Items You Had No Idea You Can Recycle It has never been more popular to live a “green” lifestyle and develop sustainable living practices that will help out the planet. While you may be used to recycling cardboard boxes and giving away your old hand-me-down clothes, there are probably a few household items you didn’t even know you could recycle! If you’re wondering what to do with some of your old, used items, here are a few things that may be ready for re-use.

Re-constituting Your Lenses

It’s common to think your eyeglass prescription only works for you, but an easy way to re-use old eyeglasses is to take them to your local optician or optometrist’s office so that they can make use of them. Not only will someone in need be able to use the frames that you’ve provided, your lenses may be donated to another person with a similar prescription who will truly appreciate the gesture.

Old Phones & Electronics

It can be tempting to throw out an old phone with a shattered screen or an aging laptop that no longer turns on properly. However, with technology being obsolete almost as soon as it hits the market, it’s more important than ever to recycle these items. Old technology like iPods, iPhones, cell phones, chargers and digital cameras can be taken to your local electronics or “big box” store and recycled as part of their e-waste program. Before discarding any electronics that still work, you may want to look into other local places that refurbish these goods to donate them to less-fortunate families.

Improving Your Oil Change

While there are many renewable solutions on the market, oil is still one of the most common resources used in cars, trucks, motorcycles and other forms of transportation. Fortunately, while an oil change may be necessary maintenance on your car now and then, you can be more environmentally friendly by going to an auto repair shop that recycles and re-refines your oil. Before you make a trip to your old auto body, take a look at motor oil recycling locations on Earth911 for some options in your area.

It’s easy enough to compost food and throw your cardboard boxes in the bin, but there are many common waste items that can actually be re-used in your local community. If you’re looking for ways to go greener as you plan a move to a new home, contact your trusted mortgage professional for more information.

17 Jul 2017

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What’s Ahead For Mortgage Rates This Week – July 17, 2017

Mortgage Rates

Inflation Rate Stays Flat in June

Inflation was flat in June, but achieved a 0.00 percent reading as compared to May’s – 0.10 percent reading. Analysts expected a June reading of +0.10 percent reading month-to-month. The Federal Open Market Committee of the Federal Reserve has established a benchmark reading of 2.00 percent inflation year-over-year as an indication of economic recovery. In recent months, the Fed has increased its target federal funds rate at each meeting of the FOMC. A slowdown in inflation and other economic indicators may cause the Fed to halt rate increases until conditions improve.

Fed Chair Testifies before House Financial Services Panel

During testimony last week, Fed Chair Janet Yellen addressed questions about Federal Reserve board members’ interaction with Wall Street. Ms. Yellen explained that the Fed values clear communications with Wall Street as a productive relationship. Chair Yellen also noted that the Fed may taper off on interest rate increases soon; she said that further rate increases may not be warranted at present.

Stating that “monetary policy is not a preset course,” Chair Yellen said that the Fed is aware of problems associated with forecasting higher than actual inflation gains, but also said that the Fed believes that inflation will achieve the 2.00 percent annual goal established by the Fed.

Ms. Yellen hinted that her tenure as Fed Chair may be reaching its conclusion; she did not answer media inquiries about whether she would stay on if asked. She said she was concentrating on current issues instead of focusing on potential developments.

Mortgage Rates Rise, New Jobless Claims Lower

Mortgage rates rose again last week; the average rate for a 30-year fixed rate mortgage exceeded four percent for the first time since May with an average rate of 4.03 percent. Fifteen-year fixed rate mortgages had an average rate of 3.29 percent. Average mortgage rates for 15 and 30-year fixed rate mortgages rose seven basis points over last week’s average rates. The average rate for a 5/1 adjustable rate also rose seven basis points to 3.28 percent. Discount points averaged 0.50 percent for all three mortgage types.

247,000 new jobless claims were filed last week as compared to expectations of 245,000 new claims filed and last week’s reading of 250,000 new claims. First-time jobless claims stayed below 300,000for 123 consecutive weeks. This run is the longest since the 1970s. Analysts said that low jobless claims indicate a very low rate of layoffs.

Consumer sentiment dropped by two index points from 95.10 to 93.10 percent. Rising mortgage rates and concerns about current events likely contributed to wavering consumer sentiment.

What‘s Ahead

This week’s scheduled economic readings include NAHB Housing Market Indices, Commerce Department reports on housing starts and building permits issued and weekly releases on mortgage rates and new jobless claims.

14 Jul 2017

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Buyer Beware: Three Major Red Flags to Watch for When Visiting Open Houses

Home Buyer Tips

Buyer Beware: Three Major Red Flags to Watch for When Visiting Open Houses An open house is a good opportunity to get out and about to see what kind of home you’re looking for and if it will work for you. Fortunately, they can also be a good opportunity to find out some things about the house you’re looking at that might not be listed on the website and may be less than flattering. If you’re wondering what red flags to watch out for, pay attention to the following things the next time you’re at a showing.

Strong Odors

Many home sellers try to engage the senses in order to entice buyers by baking cookies or spraying air freshener. However, a lot of air freshener or scent can also be a means of hiding less than pleasant smells that are a giveaway for big problems. If you notice a lot of scents when visiting an open house or if there’s an odor, you may want to look for mildew or mold as this can mean a huge house-owning hurdle to deal with down the road.

An Abundance Of Fix-Up

A small maintenance issue here and there may not be a big deal, whether it’s a doorknob that doesn’t catch or peeling paint on the wall. Unfortunately, an abundance of small issues can signal a certain attitude towards general maintenance that should be approached with caution. While it may just be a few details that were forgotten about, it’s important to pay attention as there may be a lot of more important maintenance issues that are not being taken care of if the minor ones are visible.

Issues With the Foundation

There are many issues that will hopefully come to the forefront at the home inspection, but it’s not worth it to get invested in a home only to back out due to a failing foundation. Instead of leaving it up to the due diligence of the home inspector, check for large gaps in the home’s foundation to unveil any issues on this front. The foundation can be a huge issue if it requires a fix-up, and it’s one you probably won’t want to deal with in your new home.

Open houses can provide a great sense of what it’s like to live in a home, but they can also be a good opportunity to take note of any major issues with a future home. If you’re currently preparing to buy a home, contact your trusted mortgage professional for more information.

13 Jul 2017

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Understanding Your FICO Score and Why Small Credit Mistakes Can Cause Huge Headaches

Home Mortgage Tips

Understanding Your FICO Score and Why Small Credit Mistakes Can Cause Huge Headaches Many people all over the world are dealing with issues involving debt or poor credit history, but most aren’t necessarily aware of what exactly makes up their credit score. Unfortunately, it might seem like it’s the big stuff that counts when it comes to credit, but little things can have a significant impact on your financial health. If you’re looking to improve your understanding and your finances, here’s what you need to know about small mistakes and your FICO score.

Making Late Payments

The due date on your bills might seem like an advisory, but whether we’re talking about a student loan, a credit card payment or your telephone bill, late payments can add up. Your payment history constitutes 35% of your total FICO score, which means that even a couple of late payments can have a marked impact on your overall credit. Instead of leaving this to chance, set aside a day each month before your bills are due to ensure they’re all paid off.

Applying For New Credit

It’s often the case that a store will offer special deals if you sign up for their own in-house credit card, but this can cost you big since the amounts you owe make up 30% of your credit score. Also, because lenders will often assume that you’ve run out of credit if you apply for a new card, applying for new credit can be a red mark against your FICO score. It’s also important to realize that closing off an old, unused credit card can actually bump up your balance so you may want to keep them active temporarily.

Forgetting Credit Altogether

It might seem like the best possible option for avoiding credit issues is to avoid using credit altogether, but your credit history constitutes 15% of your FICO score. This means that you should have at least one credit card in your possession so that you can use it to build a history of lending success. While you won’t want to use more than 30% of your credit limit, it’s important to show proven experience in paying back your lenders.

Many people think that bad credit is the result of overspending and huge debt amounts, but your FICO score is largely determined by your payment history and your available credit. If you’re trying to improve your financial outlook in preparation for buying a home, contact one of our mortgage professionals for more information.