OPenHouseAdMany potential buyers are still waiting in the wings, not sure that now is the time to buy a house.  They are often afraid of buying before the market has fully recovered, and are concerned that they may lose out if they jump in too early.  Here are 5 reasons they shoul...
04.02.13 08:12 PM - Comment(s)
Two early reports this morning that should have dealt a blow to the bond and mortgage markets didn’t happen. At 8:15 ADP reported their count on private sector jobs, estimates were for ADP to report an increase of 180K; according the payroll people private jobs increased a huge 325K in Dec. The reac...
05.01.12 07:01 PM - Comment(s)
Buying a home is getting less expensive for Veterans.  Effective for Veteran Affairs (VA) loans closed on or after October 1, 2011, the VA funding fee will change. According to VA Circular 26-11-12, changes in the VA funding fee are prompted by the passage of Public Law 112-26, Restoring GI B...
23.09.11 05:24 PM - Comment(s)
Eurozone debt concerns resurfaceMortgage markets improved last week on a weak jobs report, expectation for new market stimulus, growing evidence of a global economic slowdown. Rates were especially volatile, too, with the long Labor Day Weekend looming. Overall, conforming mortgage rates in Virginia improved for the first time in ...
06.09.11 04:01 PM - Comment(s)

The S&P / Case Shiller Report released today for April indicates increasing home values.:

 

Data through April 2011 ... show a monthly increase in prices for the 10- and 20-City Composites for the first time in eight months. The 10- and 20-City Composites were up 0.8% and 0.7%, respectively...

28.06.11 05:22 PM - Comment(s)
Yes seniors may purchase a home and have no monthly mortgage payment.  This is possible with a reverse mortgage (also known as a Home Equity Conversation Mortgage (HECM)) Here is an example for a 69 year old buying a home.  

Purchase Price = 200,000

Amount of FHA reverse mortgage  =...

01.06.11 12:01 AM - Comment(s)
Here is a reminder of items other than mortgage interest and property tax that Virginia Realtors should remember at tax time: subscriptions to real estate publications Costs of designing and maintaining real estate web site Clothing with company logo Business gifts Milage for business auto use Conti...
27.03.11 07:26 PM - Comment(s)
Watch this NBC video, advising prospective first time home buyers to get off the fence and buy a home.  The reasons include, home affordability, low but sure to rise  mortgage rates, seller concessions (buyer's market) and the uncertain future of Fannie Mae & Freddie Mac:

PaulCantor...

03.03.11 06:32 PM - Comment(s)
Mortgage rates improved last week as the price of mortgaged backed securities rose.  The price of a rate for thirty-year fixed rate mortgages improved by about ½ of a discount point.  However, the long term outlook for mortgage rates continue to be bearish.  The near term outlook has ...
21.02.11 04:44 PM - Comment(s)
Here are some interesting Home sales statistics for 2010 in the metro Richmond, Virginia market: •        Homes sales under $250,000 were down 7%. •        Homes sales priced between $250,000 and $500,000 were down 15%. •...
31.01.11 05:26 AM - Comment(s)
Last Friday mortgage prices increased a little, but not much; holiday trade generally doesn't amount to much. This morning the bond and mortgage markets opened better with no data points today; this week however, is filled with data beginning tomorrow. The dollar is stronger again this morning,...
29.11.10 06:39 PM - Comment(s)
Reprieve after six straight days of worsening fixed mortgage rates. Rates on 15 and 30 year fixed rate purchase and refinance loans ended yesterday, October 28th in a positive (lower rate) direction. . www.PaulCantor.info .
29.10.10 03:47 PM - Comment(s)
Beginning this week, Fannie Mae and Freddie Mac are trying to sell off 150,000 foreclosed homes by offering low down payments, no requirement for mortgage insurance, and up to $30,000 added to the mortgage for renovations. In addition, the real estate practitioner selling the property gets a $1,500 ...
01.10.10 10:03 PM - Comment(s)
The National Association of Realtors released exsisting home sales numbers today and they dropped to 27.2 percent to a seasonally adjusted annual rate of 3.83 million units in July.    This is the lowest level since May of 1995. . www.paulcantor.info .
24.08.10 07:11 PM - Comment(s)
We have some stating that inflation may be hitting sooner than expected.  This would mean higher mortgage rates.  Although nobody knows where the bottom of the rate will / have hit, their is no question that mortgage rates are at near all time lows and home owners and home buyers should ta...
23.08.10 03:48 PM - Comment(s)
Thinking about buying a home?  Maybe you should act now.  Proposed  and slated changes to FHA loans will mean it will be tougher and more expensiveto buy a home.  Read this article from MarketWatch: .Homebuyers beware: Tougher rules for FHA loans - MarketWatch. .www.paulcan...
18.08.10 03:37 AM - Comment(s)
This video explains why now is a great time to buy investment properties and benefits of holding them in an IRA. ..www.PaulCantor.info.
15.08.10 03:12 PM - Comment(s)
APR calculations have lost their uniformity.  With the introduction of the new Good Faith Estimate this year the industry has developed and adopted different ways of calculating APR.  The new GFE was supposed to make shopping and comparing loan programs easier.  In many ways it has si...
22.07.10 05:02 AM - Comment(s)

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