Blog – Page 320 of 322 – DiversiFund Texas, LP

28 Jun 2017

Case-Shiller: Home Price Growth Slows in April

Home Building Tips

Case-Shiller’s National Home Price Index indicated slower home price growth in April. Year-over-year, home prices rose 5.50 percent in April as compared to 5.60 percent in March. Year-over-year readings are calculated on a seasonally-adjusted annual basis.

Case-Shiller’s 20 City Home Price Index was also lower with a seasonally-adjusted year-over-year reading of 5.70 percent gain in April as compared to the year-over-year March reading of 5.90 percent. Seattle, Washington held on to its lead for home price growth with a year-over-year reading of 12.90 percent; Portland Oregon followed with a year-over-year reading of 9.30 percent, and Dallas, Texas maintained third place in the 20-City Home Price Index with a year-over-year reading of 8.40 percent.

Month–to–Month Home Prices Rise in 19 of 20 Cities

Seattle also led in home price growth with a rate of 2.60 percent from March to April. Portland followed with home price growth of 1.60 percent, and Denver, Colorado reported month-to-month home price growth of 1.30 percent, which edged Dallas Texas out of third place in month-to-month home price growth rates.

Analysts have been watching housing markets carefully due to a prolonged shortage of homes for sale against high demand for homes in many areas. David M. Blitzer, Chair and Managing Director of the S&P Indices Committee, noted that skyrocketing growth in home prices must slow and eventually decline. During a press conference, he asked,” Will home price gains gently slow, or will they crash and take the rest of the economy with them?”

Analysts questioned how long home prices can continue to grow and remain sustainable. Affordability is a significant aspect of home price growth as first-time and moderate-income home buyers provide opportunities for present homeowners to sell and move up to larger homes. Mr. Blitzer eased fears of an imminent housing market crash and said, “For the moment, conditions appear favorable for avoiding a crash.”

Mr. Blitzer said that more housing starts and an expected increase in home buyers were positive signs for sustaining current home prices. Upcoming readings on consumer confidence and sentiment, new home sales and mortgage rates will support estimates of when and how much home prices will continue to increase.

27 Jun 2017

By support

Want a Quick Mortgage Approval? Come Prepared With These 5 Key Items

Home Mortgage Tips

Want a Quick Mortgage Approval? Come Prepared With These 5 Key Items Whether you’re finally prepared to get into the real estate market or you want to know how you can make a deal quick, there are a few necessary documents you’ll need to prove your reliability to a mortgage lender. If you’re wondering what will be involved in getting the application approval you’re looking for, here are the documents you’ll want to have on hand when the time comes.

Previous Tax Returns

In order to ensure the earnings information you’ve provided to the lender, you’ll have to have your tax returns for the two years prior to your mortgage application. In addition, you may also be required to provide your W-2s as backup documentation.

Bank Statements

To make sure you’re a solid bet who will be able to make your down payment, you’ll need to present bank statements to ensure you have a cushion in the case that interest rates increase. If you do get money gifted to you for your down payment, you’ll need a letter to prove you’re not indebted to the provider.

Recent Paystubs

It can be much more difficult to get approved for a mortgage if you have a patchy work history or happen to be self-employed, so you’ll need 2 months of recent pay stubs to prove consistent employment. The paystubs provided should also be an accurate reflection of the salary you’ve provided on your application to ensure no discrepancies.

Investment Statements

It’s certainly a good sign to the lender if you have a healthy balance in your checking and savings accounts, but you’ll also need to provide any statements for mutual funds and other investments. While they may not be necessary to prove financial soundness, they will help with approval if you have a lot of money squirreled away.

A Listing Of Debts

While it may be the least popular of the pile, a lender will also want to know about any outstanding debts like auto loans, credit card payments or student loans. It may be tempting to forego these documents, but it will give the lender a good sense of your honesty and your ability to manage your mortgage.

Mortgage approval may seem like a time-consuming process with no certain end, but by having the appropriate documentation and being upfront about your debts, you may be able to speed up the timeframe. If you’re currently perusing your mortgage options, contact one of our mortgage professionals for the inside scoop.

26 Jun 2017

By support

What’s Ahead For Mortgage Rates This Week – June 26, 2017

Mortgage Rates

Last week’s economic news included readings on sales of new and previously owned homes. Despite expectations of lower sales in both categories, sales surpassed expectations and April sales. Analysts were concerned about extremely tight inventories of available homes limiting home sales and did not expect May home sales to increase.

May Home Sales Surpass Expectations

Sales of new homes increased to a seasonally-adjusted annual rate of 610,000 sales as compared to expectations of 590,000 sales and an annual sales pace of 593,000 homes in April. Home builders have repeatedly cited a lack of buildable lots and skilled labor, but growth in new home sales could prompt more housing starts. Real estate industry pros insist that building more homes is the only way to ease tight inventories and high demand for homes.

Existing Home Sales, National Median Home Price Rise

Sales of previously-owned homes also increased in May according to the Commerce Department. Pre-owned homes were sold at a seasonally-adjusted annual pace of 5.62 million sales as compared to expectations of 5.51 million sales and April’s reading of 5.57 million sales. The National Association of Realtors® said that the current sales pace is “unsustainable” and that “would-be buyers are having to delay or postpone their home search due to short supplies of homes for sale.” The national median home price rose 5.80 percent to $252,800 year-over-year.

Regional readings for existing home sales were mixed. Sales of existing homes were 6.88 percent higher in the Northeast while the Midwest was -5.90 percent. Existing home sales increased by 2.20 percent in the South and 3.40 percent in the West.

Mortgage Rates Hold Steady, New Jobless Claims Rise

Freddie Mac reported slightly lower mortgage rates last week as the average rate for all three mortgage types: The average rate for a 30-year fixed rate mortgage was 3.90 percent. Rates for a 15-year fixed rate mortgage averaged 3.17 percent and rates for a 5/1 adjustable rate mortgage averaged 3.14 percent. Discount points were unchanged at 0.50 percent across the board.

New jobless claims reported week rose to 241,000 and exceeded expectations of 240,000 new claims based on the prior week’s reading of 238,000 new claims. Week-to-week fluctuations can be volatile; the four-month rolling average of new jobless claims rose by 1,00 claims to 244,750 new jobless claims filed. New claims have remained below the benchmark reading of 300,000 new claims for 120 weeks, which is the longest consecutive run since the 1970s.

Analysts said that while job markets remain strong, employers continue to have difficulty in finding skilled candidates for jobs offered.

What‘s Ahead

This week’s economic news releases include Case-Schiller Housing Market Index reports, pending home sales and inflation. Mortgage rates and new jobless claims will also be released.

23 Jun 2017

By support

Understanding How Mortgage Calculators Work and When to Make Use of One

Home Mortgage Tips

Understanding How Mortgage Calculators Work and When to Make Use of One Investing in a home is a big financial decision, and along with the decision to buy is the question of how much mortgage you’ll be able to afford. While your debt-to-income ratio can be helpful in determining the range for your mortgage amount, a mortgage calculator can be a beneficial tool in coming to a potential price. If you’re curious about how and if this financial tool can benefit you, here are the details about using a mortgage calculator.

What Does It Do?

It’s very important to ensure that you can afford your mortgage before signing on the dotted line, and a mortgage calculator can assist with this. Most calculators utilize the principal amount of the loan, the interest rate and the amortization period in order to find a monthly payment that is foreseeable for you. While a debt-to-income ratio and the advice of a mortgage professional can be helpful, a calculator can be a quick determination of the overall cost involved.

How Accurate Is It?

Some mortgage calculators can utilize a pretty simple formula to come up with an estimate, but some are more complex and can calculate PMI, home insurance, and even property tax to arrive at a sum. The most accurate calculators will utilize the principal, interest, taxes and home insurance in order to determine an estimate that is feasible for you. However, it’s important to understand that you’ll need to enter the information accurately and leave out as little as possible, as this can have a dramatic impact on the calculation’s reliability.

Should You Use One?

A mortgage calculator can be beneficial in providing you with an estimate, but it should not be the be-all-end-all when it comes to making the final decision. It’s important to consider your current lifestyle and your future plans to ensure that your monthly payment will remain do-able down the road. While a calculator is a good place to begin, it’s worth consulting with a lender to get an idea of how much home you can afford. Since they’ll be required to provide a GFE with the fees disclosed, this will be the best means of understanding the costs.

A mortgage calculator can be a good means of estimating your house-buying ability, but it’s important to get the advice of a lender before making the big decision. If you’re currently in the market for a new home, contact your trusted mortgage professionals for more information.

22 Jun 2017

By support

Summer’s Here! Freshen up Your Home Decor With This Summer Color Palette

Around The Home

Summer's Coming! Freshen up Your Home Decor With This Summer Color Palette Now that the summer season has arrived, it’s time to enjoy the warm weather and cooler clothes. You might also be thinking about making some design changes to your home to welcome the season and indulge in its brilliance. If you’re looking for some new color schemes and how you can use them to amp up your home, here a few brightly-colored suggestions to try out for yourself.

Sky Blue

With the reminder of the sea and the sky, few things are akin to summer like bright blue. Instead of going overboard with this shade, try adding an accent like a side armchair, a throw or even some pillows to be adjusted with the seasons. If you’re really feeling the color, you might even want to try a large floor rug or an accent wall to add more flair.

Bright Orange

Orange can be a little bit of a risk, but if you have a love for this color there are ways to use it that will really enhance a room. As a splash against neutrals, it can add a lot of character to an otherwise unassuming space. However, if you want to go all out, consider a smaller space like a bathroom or den where it won’t look too showy.

Kelly Green

Much like blue, the color green is reminiscent of the return of the leaves and the grass, which makes it an ideal tone for the months of summer. While this color can be a lot less assuming than many bright colors, it can still provide a very alluring accent around the home. If you’re looking for ideas for this color, consider pairing it with white for a look that is both striking and homey.

Hot Pink

The color pink may seem like a risk for any room, but if you’re going for a patio setting or a makeup room, it can be the perfect tone to liven things up. Whether you want to try an accent wall or re-upholster some chairs, hot pink can easily make one think of summer cocktails and warm destinations throughout the season. With the summer months around the corner, there are plenty of great ways and fabulous colors to dress up your home with.