Equifax Data Breach: What You Need to Know

Equifax, one of the three largest credit reporting bureaus in the country, reported that due to a data breach, approximately 143 million Americans may have their personal information compromised.  Data such as names, social security numbers, birth dates, addresses and driver’s license numbers are all at risk.  Additionally, Equifax estimates Read More

Market Recap: Construction Spending Unchanged, Mortgage Apps Up, ADP Employment Numbers Positive

Mortgage rates started to trend upward after a few weeks of holding steady.  This month, US construction spending remained unchanged and private-sector jobs grew less than anticipated.  New purchase mortgage applications rebounded after last week’s declines, and refinance applications decreased slightly. US construction spending from April to May was unchanged Read More

Joining the 800+ Credit Club

Lenders use credit scores to determine a borrower’s ability to repay debts like mortgages and vehicle loans. Credit scores impact lending terms, mortgage rates, and financing eligibility. Typically, scores above 700 are considered good. TransUnion reports only about 20% of Americans have a score above 780 and even fewer rank Read More

3 Mortgage Myths that are Wrong

As the spring and summer buying seasons quickly approach, prospective homebuyers have to remain careful about falling for mortgage myths. Let’s dispel the following three mortgage myths: No. 1: Buyers must have a high credit score Having a high credit score won’t hurt, but subpar scores won’t bar buyers from Read More

What to Consider as a First-Time Homebuyer

Buying a home for the first time can be intimidating. Whether you’re fresh out of college or buying for the first time later in life, there are several things potential homeowners need to consider before making a purchase. Making a wrong decision when it comes to buying a home will not Read More

HUD Lowers FHA Premiums, Combatting Higher Rates

Housing and Urban Development (HUD) Secretary Julian Castro announced on Monday that the Federal Housing Administration (FHA) will reduce annual insurance premiums by 25 basis points. The move affects most new mortgages with a closing or disbursement date on or after 1/27. The HUD expects these new rates to save Read More

How to Whip Your Credit Into Shape Before Buying a Home

Mortgage interest rates have dominated the news lately, but there’s another aspect of buying a home people shouldn’t forget about: credit scores. It’s one of those things many individuals don’t even think about it until it’s time to make a big purchase. But a poor credit score can be a Read More

Has the Millennial Homebuying Wave Arrived?

Home builder sentiment posted a strong score of 63 on the Wells Fargo/NAHB’s Sentiment Index for October. This was a two-point slip compared to September, but September was a five-point surge over August. The bottom line is that builders remain overwhelmingly optimistic, and they are even more optimistic about future Read More

What the Presidential Election Means for Housing, Historically and Today

From now until November, the one topic on everyone’s mind nationwide is the impending presidential election. This election in particular remains extremely divisive, with seemingly unprecedented amounts of animosity and rhetoric being bandied about on both sides of the aisles. But does this political contest have an impact on real Read More

Balancing Your Expenses: What a Debt-to-Income Ratio Means for a Mortgage

One important consideration that a lender takes into account when deciding whether to approve a borrower for a mortgage or a mortgage refinance is their debt-to-income ratio. This small ratio, buried among all the other percentages and numbers in an application, is often a key deciding factor – even more so than credit scores and savings. Read More