Last week’s economic reporting included home price data from Case-Shiller Home Price Indices along with readings on pending home sales, new home sales, and consumer sentiment. Weekly reports on mortgage rates and jobless claims were also released. Case-Shiller: August Home Prices Rise at Fastest Pace in Two Years Home prices rose at a seasonally-adjusted annual pace of 5.70 percent in August according to Case-Shiller’s National Home Price Index. U.S. home prices rose by 4.80 percent … [Read more...]
How Much Income Should People Spend On A Mortgage?
When people are looking for a home, this is an exciting process. There is always something fun about looking at potential homes and envisioning a future there. This is a big decision. At the same time, it is just as important for people to think about how much of their money they should be spending on their mortgage. There are a few rules of thumb that people should keep in mind. The 28 Percent Rule One of the most common rules that financial advisors and lenders are going to talk about is … [Read more...]
The Required Steps For A Smooth Mortgage Refinance Process
There are lots of people who have heard that one of the top ways to ensure the best mortgage rate possible is to refinance. At the same time, it is critical to make sure that this process is planned out accordingly. Therefore, there are a few steps that everyone has to follow to make sure they are able to handle the mortgage refinancing process in a smooth manner that leads to the best rate possible. Ask If A Refinance Is The Right Step There are a lot of people who assume that a mortgage … [Read more...]
Case-Shiller Reports Fastest Home Price Growth in Two Years
Home prices rose at their fastest rate in two years according to Case-Shiller Home Price Indices. The National Home Price Index for August showed 5.70 percent home price growth year-over-year as compared to 4.80 percent growth reported in July. The Case-Shiller 20-City Home Price Index showed that home prices rose to a 5.70 percent year-over-year pace from July’s growth rate of 4.10 percent. Phoenix, Arizona held the top home price growth rate for the 15th consecutive month with … [Read more...]
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