Janice Ziesig's Blog

Home Mortgages: Rates Up, Requirements Easing

Posted by Janice Ziesig on May 02, 2017 in No Category
The media has extensively covered the rise in mortgage interest rates since last fall (from 3.42% last September to the current 4.1% according to Freddie Mac). However, a less covered aspect of the mortgage market is that requirements to get a mortgage have eased while rates have risen. The Mortgage Bankers Association (MBA) quantifies the availability of mortgage credit each month with their Mortgage Credit Availability Index (MCAI). According to the MBA, the MCA... read more
View blog Entry | Comments Not Allowed
There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage - either yours or your landlord’s. As Entrepreneur Magazine, a premier source for small business, explained this month in their article, “12 Practical Steps to Getting Rich”: “While renting on a temporary basis isn't terri... read more
View blog Entry | Comments Not Allowed

The Foreclosure Crisis: 10 Years Later

Posted by Janice Ziesig on April 17, 2017 in No Category
CoreLogic recently released a report entitled, United States Residential Foreclosure Crisis: 10 Years Later, in which they examined the years leading up to the crisis all the way through to present day. With a peak in 2010 when nearly 1.2 million homes were foreclosed on, over 7.7 million families lost their homes throughout the entire foreclosure crisis. Dr. Frank Nothaft, Chief Economist for CoreLogic, had this to say, “The country experienced a wild r... read more
View blog Entry | Comments Not Allowed

What Are the Experts Saying about Mortgage Rates?

Posted by Janice Ziesig on April 16, 2017 in No Category
Mortgage interest rates have risen over the last few months and projections are that they will continue their upswing throughout 2017. What impact will this have on the housing market? Here is what the experts are saying: Laurie Goodman, Co-director of the Urban Institute’s Housing Finance Policy Center: “In 1984, 1994, 2000, and 2013, every time we have rate increases, we have increases in nominal home prices. We expect this to be more pronounced, as there is a big demand-and-supply... read more
View blog Entry | Comments Not Allowed

Over Half of All Buyers Are Surprised by Closing Costs

Posted by Janice Ziesig on April 06, 2017 in No Category
According to a recent survey conducted by ClosingCorp, over half of all homebuyers are surprised by the closing costs required to obtain their mortgage. After surveying 1,000 first-time and repeat homebuyers, the results revealed that 17% of homebuyers were surprised that closing costs were required at all, while another 35% were stunned by how much higher the fees were than expected. “Homebuyers reported being most surprised by mortgage insurance, followed by bank fees and ... read more
View blog Entry | Comments Not Allowed