Mortgage Interest Rates

Mortgage Interest Rates Are Going Up

According to Freddie Mac’s latest Primary Mortgage Market Survey, the 30-year fixed rate mortgage interest rate has jumped up.  The last few weeks we’ve seen 3.94% to the current higher rate of 4.03%.   Interest rates had been hovering around 3.5% since June, and many are wondering why there has been such a significant increase so quickly. 

Why are mortgage rates going up?  Basically, the better the economy, the higher interest rates will go.

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Renting vs Buying a Home

Buying is Now 37.7% Cheaper than Renting

The results of the latest Rent vs. Buy Report from Trulia show that home-ownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.

The updated numbers actually show that the range is an average of 17.4% less expensive in Honolulu (HI), all the way up to 53.2% less expensive in Miami & West Palm Beach (FL) and 37.7% nationwide!

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Austin Adler - Life Insurance & Homeownership

Life Insurance & Homeownership

NOTE: Austin Adler is a Financial Services Professional with MassMutual Financial Group, specializing in life and long term disability insurance. Austin takes the confusion out of insurance!  He’s a good friend and someone I respect greatly.  He provides some “must know” info below.  Check it out, then give Austin a call at 608-828-4327 or send him a note at austinadler@financialguide.com!

—Randy Lenz, Broker/Owner, NextHome Metro Group

By Austin Adler, MassMutual Financial Group

Life insurance and home ownership may seem like they don’t belong on the same plate, but the reality is they go together just like peas and carrots. The truth is, when you go through the processes and commitment of buying a home, life insurance inevitably comes up as part of your asset protection. It’s not surprising for first-time home buyers to not carry any life insurance whatsoever.  “Why do I need life insurance?  If something happens to me I don’t really care what the next day looks like.”  This statement can be frequently heard from first-timers before they settle down to buy a home.

Debt changes everything.

Every year families lose homes when the person who paid the mortgage is no longer around and life insurance is just one way to help make sure that doesn’t happen to you.

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Mortgage Pre-Approval with Rob Miller | Providence Home Lending

Why Mortgage Pre-Approval is Important

NOTE:  Rob Miller is a lender who cares deeply about his clients and is available when you need him—not when it’s convenient for him!  Rob is there for you on weekdays, weeknights and weekends; whenever YOU want to buy a home!  He takes great pride in education within his field, and has a special dedication to loan programs for veterans. He shares some great advice on preapproval letters below!

—Randy Lenz, Broker/Owner, NextHome Metro Group

By Rob Miller, MLOP, Providence Home Lending

What is mortgage pre-approval and why is it important?

This is a popular question. The short answer is that pre-approval puts you on the right path to buying your home. Knowing your financial situation and strengths before you go house-hunting and propose offers will get you on your way to success.

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