Archive for the 'Home Mortgage' Category

Well the early indications are good that rates are beginning to lower. They have remained constant over the past few months, with a few dips. But last week 30 year fixed dropped under 6.25%. Another indicator was that the Federal Reserve isn’t planning on increasing the funds rate. The benchmark rate that the Fed has increased over the past 2 years. So it could mean rates will remain where they are and might drop a little over the next few months.

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Interest only loans serve one basic function, to give you the lowest payment. These loans only require you pay the interest owed on the loan each month; no principal is needed to be paid.

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These loans used to be solely for self-employed borrowers. The majority of self-employed individuals typically can’t or do not want to provide income documents. They are unable to verify enough income even though they are able to afford the mortgage payments.

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The biggest fear in Real Estate is that the ‘bubble will burst’ and property values will decrease. In many regions they have started to see a slight decrease in the property values. There are many reasons and factors into the decreasing of property values.

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