Consumer spending was mixed, with most Districts indicating steady to modestly increasing activity. Full Report Source: Federal Reserve Beige Book. For Minneapolis Beige Book District Report
Do You Know What Questions To Ask Your Mortgage Lender?
A mortgage comes with many moving pieces and understanding them is the key getting a great deal. Unfortunately, studies show that few Americans have a firm grasp of how mortgages work — from mortgage types to mortgage fees.
In this back-to-basics interview on NBC’s The Today Show, you’ll learn some mortgage planning basics to help you get smarter with your next home loan in St Paul or anywhere else — purchase or refinance.
Some of the topics covered include:
- The mortgage applicants for whom adjustable-rate mortgages are a better choice than fixed-rate mortgages
- Why you should include “How Good Is This Lender?”-type questions in the rate shopping process
- What a pre-approval letter is good for, and what it is not good for
There is also one of the most simple explanations of “discount points” ever offered on network television.
The video runs 4-and-a-half minutes. For first-time buyers and experienced ones, it’s worth a watch. You’ll pick up some tips to use on your next mortgage.
Rental Markets Tightening Rents Climbing!
Due to the foreclosure crisis millions of Americans went from homeowners to renters. Even during slow economic growth, buying a home at historically low rates and prices can be the best choice. In many cities today buying is cheaper than renting. A 30 year fixed rate term loan monthly payment will never go up, unlike rent!
Rental Markets are Tightening – Source: Harvard Joint Center for Housing State of the Nations Housing Rental Report 2011 Rental Housing Report 2011