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  • Hire | Market Watch Blog

    Wednesday, January 11, 2017   /   by Trenner Tompkins

    Fla. has 4 of top 5 ‘hottest’ single-family markets

    Fla. has 4 of top 5 ‘hottest’ single-family markets


     
    IRVINE, Calif. – Jan. 10, 2017 – Among the 50 largest U.S. markets, the top five (in order) were Orlando, Palm Beach County, Fort Lauderdale, Tampa and Dallas, according to Ten-X, an online marketplace. Each metro area had "a vigorous combination of consistently strong demand, home price appreciation, and economic and demographic growth."
    While Florida metros again dominated the rankings, Ten-X said there was movement within the top five slots: Orlando jumped from fourth to first to overtake Fort Lauderdale; Fort Lauderdale dropped to third; Palm Beach County remained unchanged in second; and Tampa slipped from third place to fourth.
    "While most of the cities at the top of the list share common traits like job growth, population growth and economic expansion, many of the cities showing the greatest potential were among those hardest hit during the Great Recession," says Ten-X Executive Vice Pre ...

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    Wednesday, December 21, 2016   /   by Trenner Tompkins

    1 in 5 borrowers think they chose the wrong lender

    1 in 5 borrowers think they chose the wrong lender


     
    NEW YORK – Dec. 20, 2016 – Twenty-one percent of customers purchasing a home regret their choice of a lender, according to the J.D. Power 2016 U.S. Primary Mortgage Origination Satisfaction Study, based on responses from more than 5,000 consumers. When it comes to first-time buyers, 27 percent say they regret their choice.
    One reason for customers' regret overall is a poor experience, including a lack of communication and unmet promises.
    Some buyers also said they felt pressured to choose a particular mortgage product, and they made up their mind due to financial reasons, such as a lower rate offered. As a result, dissatisfaction with the mortgage process doesn't necessarily mean it cost these borrowers more money.
    "This 'happy buyer's remorse' is in part due to customers feeling that circumstances out of their control drove them to a particular choice and that options weren't totally clear," says Craig Ma ...

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    Tuesday, December 20, 2016   /   by Trenner Tompkins

    Failure to qualify for a mortgage: Top 3 reasons

    Failure to qualify for a mortgage: Top 3 reasons

     
    WASHINGTON – Dec. 19, 2016 – A Federal Reserve study on mortgages pinpointed the top three reasons people fail to get approved – the biggest snares for homebuyers seeking a loan. Buyers who focus on these areas before applying stand a better chance of eventually hearing: "Yes, we can loan you the money."
    The recently completed Fed study looked at millions of mortgage applications, and it found that flunking the debt-to-income (DTI) test is the No. 1 reason why loan applicants get rejected.
    No. 2: Issues over credit histories and scores.
    No. 3: Property valuation problems, such as buyers signing up for a house at a price higher than the actual market value.
    They all spell trouble.
    The study tapped into the databases compiled annually from mandatory reports filed by lenders nationwide to the federal government regarding mortgage applications. During 2015, according to researchers, one of every eight home p ...

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    Tuesday, December 13, 2016   /   by Trenner Tompkins

    Mortgage Rates Today, Tuesday, Dec. 13: Lower as Volatility Continues

    Mortgage Rates Today, Tuesday, Dec. 13: Lower as Volatility Continues
    Thirty-year fixed, 15-year fixed and 5/1 ARM rates are all lower Tuesday, according to a NerdWallet survey of mortgage rates published by national lenders this morning.
    This is a volatile time for mortgage rates. Up one day, down the next. The skittish bond market may find some relief following tomorrow’s Federal Reserve short-term interest rate announcement. While a 0.25-percentage-point hike is widely expected, market analysts and bond investors will be more interested in hearing the Fed’s hint of what is coming next.
    Fed Chair Janet Yellen will hold a news conference tomorrow following the rate announcement, at which time she will release the committee’s economic projections.



    Mortgage Rates Today,
    Tuesday, Dec. 13
    (Change from 12/12)
    30-year fixed: 4.35% APR (-0.03)
    15-year fixed: 3.68% APR (-0.03)
    5/1 ARM: 3.78% APR (-0.01)



    A warning from a mortgage ...

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    Wednesday, December 07, 2016   /   by Trenner Tompkins

    Exactly which credit score should you check?

    NEW YORK – Dec. 6, 2016 – Let's keep it real, OK? When it comes to credit scores, numbers – namely, your three-digit score and the amount you have to pay to access it – are all that really matter.
    In simpler terms, it doesn't matter what type of credit score you get – whether FICO or Vantage, for instance – or where you get it, as long as the source is reputable and you receive maximum access for minimal cost. And if you don't buy into that notion, here are four fundamental reasons why seeking out a certain type of score – or ever paying for one – is a fool's errand.
    1. You're looking for a needle in a haystack.There are more than 1,000 different types of credit scores currently in use, according to Experian, and each model produces a unique result depending on which of the three major credit bureaus is supplying the underlying information. In other words, you're going to have a very hard time trying to ide ...

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    ;