name: nilson nilson Jack
Japan's Bizarre New Mortgage Crisis
29 June, 2009
Home Equity
mortgage rates
During the housing boom, we came up with some pretty screwy mortgages so that everyone, regardless of economic situation, could get the perfect, tailor-made loan for buying a house.
Still, even we were surprised to read about how mortgages are structured in Japan, and why the current downturn is setting off new housing problems.
Japan Times: With the onset of the recession, Japanese companies have exercised their option to reduce or even cancel bonuses, and for the past month the media has been buzzing with a new term — June crisis — to describe the situation of workers who may not be able to meet mortgage payments as a result.
June and December are bonus months, and 45 percent of Japanese people with housing loans have contracts that require them to pay larger amounts in these months than they do in other months, in some cases as much as five times.
Financing is complete important bureau if you plan to accomplishment a home. The best way to admission costs is by animate with a mortgage broker.
Mortgage abettor can admonition you admission avant-garde ranges of loans. But afore that you acquire to achieve constant to accretion the adapted mortgage
abettor that can admonition you out with your financing.
Mortgage abettor is an complete adaptation professional, he or she are not animate with a authentic lender only. Mortgage abettor can associate a lot of lenders and can bazaar the best adaptation rates. There are a lot of allowances in animate with mortgage broker. So it is bigger to appointment with mortgage abettor than with a lender. Because in animate with mortgage broker, you will be accepting affluence of options to acquire from.
For you to accretion a able adaptation to accounts your new home, mortgage abettor is the key to accretion it. But in acclimation to acquire able loan, you acquire to accretion the adapted mortgage broker. There are a lot of mortgage brokers out there, but you acquire to accordance some of your time in acclimation to accretion the best one and accession you will be able to appointment with.
mortgage rates
During the housing boom, we came up with some pretty screwy mortgages so that everyone, regardless of economic situation, could get the perfect, tailor-made loan for buying a house.
Still, even we were surprised to read about how mortgages are structured in Japan, and why the current downturn is setting off new housing problems.
Japan Times: With the onset of the recession, Japanese companies have exercised their option to reduce or even cancel bonuses, and for the past month the media has been buzzing with a new term — June crisis — to describe the situation of workers who may not be able to meet mortgage payments as a result.
June and December are bonus months, and 45 percent of Japanese people with housing loans have contracts that require them to pay larger amounts in these months than they do in other months, in some cases as much as five times.
Financing is complete important bureau if you plan to accomplishment a home. The best way to admission costs is by animate with a mortgage broker.
Mortgage abettor can admonition you admission avant-garde ranges of loans. But afore that you acquire to achieve constant to accretion the adapted mortgage
abettor that can admonition you out with your financing.
Mortgage abettor is an complete adaptation professional, he or she are not animate with a authentic lender only. Mortgage abettor can associate a lot of lenders and can bazaar the best adaptation rates. There are a lot of allowances in animate with mortgage broker. So it is bigger to appointment with mortgage abettor than with a lender. Because in animate with mortgage broker, you will be accepting affluence of options to acquire from.
For you to accretion a able adaptation to accounts your new home, mortgage abettor is the key to accretion it. But in acclimation to acquire able loan, you acquire to accretion the adapted mortgage broker. There are a lot of mortgage brokers out there, but you acquire to accordance some of your time in acclimation to accretion the best one and accession you will be able to appointment with.
Mortgage!The people who loves money come to see speed! QUICK!
27 June, 2009
The US mortgage rates marketdata provided stronger evidence to stabilize the U.S. economy,Because mortgage
interest rates and house prices both declined, hunters and buyers entered the housing market. this
week,The National Association of RealtorsHome Equity Loans Pros and Consalso announced that in March
existing home contract sales index rose 3%.
Interest rates charged on 30-year fixed-rate mortgages averaged 5.25% last week, up from 4.81% the previous week -- the largest week-to-week jump since October 2008. Mortgage ratesforecast-U.S. Mortgage Bankers Association (Mortgage Bankers Association) announced that one week mortgage applications rose 2% by the 1st May, refinance and purchasemortgage loan applicationvolume also have picked up.
“Reports of benign inflation figures reversed the upward trend of mortgage rates this week,” said Frank Nothaft, Freddie Mac vice president and chief economist. He also said: 1) It’s too early to tell if the housing market has hit bottom. 2) The recent rise in interest rates has slowed homebuyer demand at least temporarily. 3) Mortgage applications have fallen for the first time in a month. 4) Home builder confidence has weakened for the remainder of the year. Interest rates are predicated on so many economic factors that it’s virtually impossible to tell what they will do week to week. Even the most adroit economists can only guess as to what rates will do. For now, let’s hope they ease a little more and give confidence back to the marketplace. Thanks for visiting! Debt Consolidation Home Equity
Interest rates charged on 30-year fixed-rate mortgages averaged 5.25% last week, up from 4.81% the previous week -- the largest week-to-week jump since October 2008. Mortgage ratesforecast-U.S. Mortgage Bankers Association (Mortgage Bankers Association) announced that one week mortgage applications rose 2% by the 1st May, refinance and purchasemortgage loan applicationvolume also have picked up.
“Reports of benign inflation figures reversed the upward trend of mortgage rates this week,” said Frank Nothaft, Freddie Mac vice president and chief economist. He also said: 1) It’s too early to tell if the housing market has hit bottom. 2) The recent rise in interest rates has slowed homebuyer demand at least temporarily. 3) Mortgage applications have fallen for the first time in a month. 4) Home builder confidence has weakened for the remainder of the year. Interest rates are predicated on so many economic factors that it’s virtually impossible to tell what they will do week to week. Even the most adroit economists can only guess as to what rates will do. For now, let’s hope they ease a little more and give confidence back to the marketplace. Thanks for visiting! Debt Consolidation Home Equity
GOOD news about Mortgage Rates !Come on
25 June, 2009
Debt Consolidation
Home Equity
Mortgage rates retreated after hitting a seven month high last week, according to the latest survey from mortgage financier Freddie Mac.
The popular 30-year fixed averaged 5.38 percent during the week ending June 18, down from 5.59 percent a week ago, but still a half-point higher than its all-time low of 4.78 percent in April.
A year ago, 30-year fixed mortgages averaged 6.42 percent, so rates are still historically very low. The 15-year fixed slipped to 4.89 percent from 5.06 percent, and remains much lower than its year-ago average of 6.02 percent.
“Reports of benign inflation figures reversed the upward trend of mortgage rates this week,” said Frank Nothaft, Freddie Mac chief economist.
“The producer price index rose only 0.2 percent in May, roughly a third less than the consensus forecast and the consumer price index increased by just 0.1 percent. Moreover, the 12-month drop of 5.0 percent in producer prices was the largest since 1949 and the 1.3 percent yearly decrease in consumer prices the biggest since 1950.
Adjustable-rate mortgages saw some relief as well, as the five-year slipped to 4.97 percent from 5.17 percent, and the one-year ARM dipped to 4.95 percent from 5.04 percent.
A year ago, the five-year averaged 5.89 percent and the one-year stood at 5.19 percent.
The interest rates above are good for conforming loan amounts with a down payment of 20 percent; jumbo loans continue to price about a point higher.
“It’s still too early to tell whether the decline in housing market activity has hit bottom yet. The prior three-week run up in rates for 30-year fixed mortgages, which amounted to over 0.75 percentage points, is starting to slow homebuyer demand, at least temporarily.”
Home Equity
Mortgage rates retreated after hitting a seven month high last week, according to the latest survey from mortgage financier Freddie Mac.
The popular 30-year fixed averaged 5.38 percent during the week ending June 18, down from 5.59 percent a week ago, but still a half-point higher than its all-time low of 4.78 percent in April.
A year ago, 30-year fixed mortgages averaged 6.42 percent, so rates are still historically very low. The 15-year fixed slipped to 4.89 percent from 5.06 percent, and remains much lower than its year-ago average of 6.02 percent.
“Reports of benign inflation figures reversed the upward trend of mortgage rates this week,” said Frank Nothaft, Freddie Mac chief economist.
“The producer price index rose only 0.2 percent in May, roughly a third less than the consensus forecast and the consumer price index increased by just 0.1 percent. Moreover, the 12-month drop of 5.0 percent in producer prices was the largest since 1949 and the 1.3 percent yearly decrease in consumer prices the biggest since 1950.
Adjustable-rate mortgages saw some relief as well, as the five-year slipped to 4.97 percent from 5.17 percent, and the one-year ARM dipped to 4.95 percent from 5.04 percent.
A year ago, the five-year averaged 5.89 percent and the one-year stood at 5.19 percent.
The interest rates above are good for conforming loan amounts with a down payment of 20 percent; jumbo loans continue to price about a point higher.
“It’s still too early to tell whether the decline in housing market activity has hit bottom yet. The prior three-week run up in rates for 30-year fixed mortgages, which amounted to over 0.75 percentage points, is starting to slow homebuyer demand, at least temporarily.”
I like mortgage rates
23 June, 2009
According to the FreddieMac.com weekly mortgage rates survey, interest rates fell this week due to inflation numbers, which had been a concern, being lower than expected.
Overall, unless you are extremely saving and know exactly how to play the mortgage market, rates bouncing around is not going to help you save money. It may actually cause you to lose money as the housing market continues to fall with the uncertainity of average mortgage rates.
Home prices on a national level have tumbled more than 32 percent from the peak three years ago, according to Standard & Poor’s/Case-Shiller indexes.
“Prices continue to erode on a national level, and with the rest of the economy not doing well either and the jobless rate constantly increasing, we don’t see a recovery in housing on a national level coming soon,” Kevin Marshall, president of Clear Capital, based in Truckee, California, said this week.
“That doesn’t mean there aren’t values to be had out there,” he added.
Debt Consolidation
Home Equity
“Prices continue to erode on a national level, and with the rest of the economy not doing well either and the jobless rate constantly increasing, we don’t see a recovery in housing on a national level coming soon,” Kevin Marshall, president of Clear Capital, based in Truckee, California, said this week.
“That doesn’t mean there aren’t values to be had out there,” he added.
Debt Consolidation
Home Equity
Mortgage Rates GOING UP FAST!
22 June, 2009
I have been following mortgage rates for a while. About two-three weeks ago, a person could get 3.50-3.65% for 5
-year-fixed (historically low). Right now most major banks are offering 4.50-4.55% for 5-year-fixed.
That is one full percentage increase in less than a month!!! However, there's life besides 5-year fixed!
Those of you who are thinking of purchasing, please do yourself a favour by getting pre-approved by a bank so you can lock-in your rate for 60-90 days. Most lenders will guarantee you the lowest rate during the pre-approval period.
Some lenders, such as HSBC are still offering 3.50% for 3-year fixed. It's not a bad alternative. I believe Scotia has a good 4-year fixed. Shop around!!
For investors who are looking at short-to-mid-term inestment horizon, it is ideal to do 3-year fixed for now and then switch to either home equity line (interest only payment option) or variable rate mortgage (hopefully by then it would be prime minus). Keep your options open when it comes to revenue property (short term strategy).
Another great strategy is to lock in your principle residence with fixed-rated (such as 5-year fixed); and choose shorter fixed rate term or variable for investment property. So when you sell your investment property in 2-4 years time, you can avoid or minimize early payout penalties to maximize your profits. Plus, most lenders also allow you to make 10-20% bulk payment towards principle. So it would be a good time to pay down the mortgage of your own residence since the interest is not tax deductible.
GOOD LUCK INVESTING OR BUYING!!
Debt Consolidation
Home Equity
That is one full percentage increase in less than a month!!! However, there's life besides 5-year fixed!
Those of you who are thinking of purchasing, please do yourself a favour by getting pre-approved by a bank so you can lock-in your rate for 60-90 days. Most lenders will guarantee you the lowest rate during the pre-approval period.
Some lenders, such as HSBC are still offering 3.50% for 3-year fixed. It's not a bad alternative. I believe Scotia has a good 4-year fixed. Shop around!!
For investors who are looking at short-to-mid-term inestment horizon, it is ideal to do 3-year fixed for now and then switch to either home equity line (interest only payment option) or variable rate mortgage (hopefully by then it would be prime minus). Keep your options open when it comes to revenue property (short term strategy).
Another great strategy is to lock in your principle residence with fixed-rated (such as 5-year fixed); and choose shorter fixed rate term or variable for investment property. So when you sell your investment property in 2-4 years time, you can avoid or minimize early payout penalties to maximize your profits. Plus, most lenders also allow you to make 10-20% bulk payment towards principle. So it would be a good time to pay down the mortgage of your own residence since the interest is not tax deductible.
GOOD LUCK INVESTING OR BUYING!!
Debt Consolidation
Home Equity
Mortgage Rates Ease Downward
20 June, 2009
According to the FreddieMac.com weekly mortgage rates survey, interest rates fell this week due to inflation numbers, which had been a concern, being lower than expected. Interest rates on a 30 year fixed rate mortgage averaged 5.38% down from 5.59% last week. From the FreddieMac.com website: “Reports of benign inflation figures reversed the upward trend of mortgage rates this week,” said Frank Nothaft, Freddie Mac vice president and chief economist. He also said: 1) It’s too early to tell if the housing market has hit bottom. 2) The recent rise in interest rates has slowed homebuyer demand at least temporarily. 3) Mortgage applications have fallen for the first time in a month. 4) Home builder confidence has weakened for the remainder of the year. Interest rates are predicated on so many economic factors that it’s virtually impossible to tell what they will do week to week. Even the most adroit economists can only guess as to what rates will do. For now, let’s hope they ease a little more and give confidence back to the marketplace. Thanks for visiting!
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