William Tuning
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It’s Pre-approval Time: How to Get Your Finances in Order for Your Mortgage Approval

Buying a new home is one of the most exciting experiences a person or family can have. Of course, before you can step foot into your new dream home you will need to get prepared financially, especially if you are taking out a mortgage to cover some of the purchase price. Let’s take a look at a few key steps that will help you to prepare for the financial background checks that are part of the mortgage process. Square Up With The Government The first place you’ll want to start is making sure that you are fully caught up on any income or other taxes. Rest assured that your lender will be checking your financial history and being behind on government payments is a significant...

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NAHB: Builder Confidence Dips on Hurricane Damage

Home builders had less confidence in housing market conditions in September. In the aftermath of Hurricanes Harvey and Irma, builders worried that ongoing shortages of construction labor and materials would worsen.  NAHB Chairman Granger MacDonald said that concerns over labor and building materials were “intensified,” but said that builder confidence was expected to return to high readings once rebuilding is underway. The National Association of Home Builders Housing Market Index dropped three points to an index reading of 64 with all three component readings lower than they were in August. Builder confidence in current market conditions for new single-family homes dipped for points to an index reading of 70. Builder confidence in housing market conditions over the next six months also dropped points to 74....

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How Much Is the Right Amount to Commit to Your Down Payment? Let’s Take a Look

Are you thinking about buying a new home? If you are going to take out mortgage financing, one consideration you will have is your down payment, which is the amount you pay up front in cash to cover some of the purchase cost. Let’s consider a few points that will help you to decide how much is the right amount for your down payment. How Much Do You Have? The most obvious question you will need to answer is: how much do I realistically have to place as a down payment? Keep in mind that your down payment is money that you aren’t going to see again until you sell your home. While you want to invest a significant amount for reasons we will share...

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What’s Ahead For Mortgage Rates This Week – September 18, 2017

Last week’s economic readings release included reports on inflation, core inflation retail sales and retail sales excluding autos. Consumer sentiment, along with weekly readings on mortgage rates and new jobless claims were also reported. Inflation Exceeds Expectations, Retail Sales Lag Consumer prices rose 0.40 percent in August, which surpassed expectations of 0.30 percent growth and July’s reading of 0.10 percent. Core consumer prices, which exclude volatile food and energy sectors, matched expectations with a reading of 0.20 percent growth and exceeded July’s growth of 0.10 percent. August retail sales fell to -0.20 percent against expectations of no change from July’s reading of 0.30 percent. Retail sales excluding auto sales grew by 0.20 percent, which was lower than expected growth of 0.40 percent, which was based...

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