Home Mortgage and Finance

There are currently 207 blog entries related to this category.

We all heard that the Federal Reserve raised its benchmark interest rate yesterday. If you're planning to buy a home soon, put down that can of Dinty Moore stew and climb on out of your doomsday bunker. The sun will indeed come up tomorrow. Your mortgage rate is not directly tied to that Fed rate.

I think this article does a good job of explaining why the Fed Rate isn't really relevant to mortgage rates and gives some good insight on what might lie ahead:

Why the Fed move doesn't matter to mortgage rates

So if it's your life's ambition to geek out financially, watch the yield on the 10-year note. That is the one indicator that mortgage rates tend to follow. (The key word is "tend". It's not fail-safe.)

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Is a biweekly mortgage payment plan a good idea? This is a question I've been getting often from buyers right after they close on a new home which makes me think that mortgage companies are really pushing these programs now. A biweekly mortgage payment plan essentially means that you make half your mortgage payment every two weeks. The idea is that by doing so, you will pay off your mortgage much quicker and pay less interest over the life of the loan. To get the best answer, I turned to one of my favorite lenders, Tracey McVicker with SWBC mortgage since he is certainly the expert in these areas. Here is his advise. 

Theoretically, it is better than just making your payments once a month. If you are making 26 payments per year, 1 every two weeks, in

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As we wrap up 2015 and dive head-first into planning personal and financial goals for the New Year, we came across this information and thought it was worth the share. Please let us know if we can help you with your Real Estate, home ownership, and investment goals, or if you have questions about what might be the best strategy for you as you plan your 2016 and beyond.

Will the next few months find you searching for your first home? Investing in rental properties? Selling your home and using the equity to buy something bigger, smaller, or just in a different part of town? We can help.

There has been much written about how dramatically home values have increased over the last several years. With the increase in values, comes an increase in the

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It's one of the most common questions that we get as Real Estate professionals:

Are interest rates going to go up in the near future?

And, although we certainly don't have a magic crystal ball (we SO wish that we did!), we look to the experts to pass along their predictions. This information was just released by Freddie Mac, and we think it's important to note that as rates go up, purchasing power goes down.

The 30-year fixed-rate mortgage is getting closer to moving over 4 percent, as mortgage rates climb for the second week in a row. Freddie Mac reports that fixed-rate mortgages are rising in anticipation of a possible rate increase by the Federal Reserve and a recent strong jobs report.

"A surprisingly strong October jobs report showed

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The Denver Metro Area Real Estate Market seems to be leveling out a bit..and after months in a super-hot Seller's Market, we have to say we are relieved!

Inventory has picked up a little, Days on Market are a little longer, and prices are starting to reflect the balance as well. All of these factors might be leading you to think about buying a house this fall - super smart move!

Even though Spring is traditionally known as the optimum time to buy a house, Fall is actually a great time for many of the same reasons - you might be able to feel the house on both warm and cool days as you consider buying it, and you will also be able to see the remainders of the landscaping and exterior features while they are still green and not covered in snow.

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Many home buyers, home sellers, and sadly more than a few real estate agents probably don’t realize major changes are coming that will affect the rules governing real estate closings. You’ll no doubt be hearing more about these changes as the deadline for the new rules to go into effect draws nearer.

What are the big changes? On October 3, 2015 the Consumer Financial Protection Bureau, which is a new federal entity created by Congress when it passed the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010, will mandate that mortgage documents are locked in at least 3 days before closing.* Additionally lenders will have to use newly created RESPA (Real Estate Settlement Procedures Act) and TILA (Truth In Lending Act) forms:

  • A newly
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Colorado is officially in the fall season with leaves changing and colder nights so naturally the question of what is going to happen to the Denver Real Estate Market as we head into fall is starting to come up. Since the Denver Real Estate market is often seasonal, I try to do my best to predict what will happen to the market as we head into each season based on my experience, what I hear from other agents and future expert predictions.

The past few years, we have seen an insane spring selling season, a slower summer season in July and August, and another rush in home sales in September through November before winter sets in. That is what we expected this year and so far, we are still waiting for the fall rush to begin. For a number of reasons,

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As the kids head back to school, we tend to see a seasonal slowing of the housing market.

This August was no exception. According to REcolorado’s monthly report on the residential real estate market, signs of the traditional end-of-summer softening were seen in the Denver metro and surrounding area. Prices dipped a bit, the number of sold listings decreased, and homes stayed on the market longer.

August brought continued moderation in sales prices for single family homes. The average sold price for a single family home in August was $363,625, down one percent from last month, but up 11 percent year over year. The average price for a single family detached home was $405,863 in August, while a condo/townhome saw an average sale price of $257,048.

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What is “Title?” What Does It Mean to the Prospective Property Buyer or Seller?

It's not a stupid question at all...because, after all, it might be a bit boring compared to finding a house, negotiating a deal, and working through inspection and appraisal...but title is actually a super important thing to understand when you are purchasing a property.

What is title and why is understanding it important?

“Title” is a term broadly used to describe matters affecting your legal rights to own, possess, use, control or sell your property. Many types of matters can adversely affect your property’s title. It is very important as a buyer for you to identify and understand all title issues affecting your prospective property before you buy and also to

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Early next week, we will bring you our monthly wrap-up of Denver Metro Market Statistics, so watch for those soon...but in the meantime, here is an interesting look from a national perspective.

From Jonathan Smoke, the chief economist of realtor.com, who analyzes real estate data and trends to develop market insights:

"It’s the perennial question, and one that both consumers and the media have asked me incessantly over the past few weeks: When is the best time of year to buy a home?

The question inspired me to look at the seasonal patterns for supply and demand a couple of weeks ago, revealing the upper hand that buyers who are willing to close on a home in off-peak times like the fall and winter might have.

But upon closer inspection I

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