C21AGVoices

Another day, another piece of inflationary data. June’s Consumer Price Index showed a 5 percent year-over-year increase in what is now the largest annual Cost of Living increase for Americans in 17 years. This is bad news for active home buyers because rising costs are considered inflationary and inflation causes mortgage rates to increase. Predictably, […]

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Picture courtesy of ResPres   My niece Beth,who is considering purchasing her first home recently asked me…”Can you refer me to a mortgage company who can tell me how much I can afford to spend on a home?” I believe that it is at this stage where most of the purchase mistakes are made. Beth like […]

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In the summer of 2005, sub-prime mortgage lending was at its peak.  Rates were relatively low and lending guidelines were relatively loose. At the time, the “standard” sub-prime mortgage product was the 3/27 ARM. The 3/27 had a few basic traits: A fixed, 3-year “starter rate” Every six months thereafter, the mortgage rate changed The […]

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As flood waters ran through Iowa and other Midwestern states, the nation’s corn supply was thought to be in danger. Prices spiked in the wake of the floods, adding to the already-peaking grocery bills that many Americans are now bearing. With shortages of rice, and the unexpected increases in food costs due to transportation expense as […]

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In the current mortgage market, there are fewer ways to buy homes with no money down, but it is still possible to buy with none of Your money down. One of them is probably as old as home buying itself. Get a gift of cash (probably from a family member) to be used as part […]

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Home buyers are often surprised when a “rate quote” from the morning won’t be honored in the afternoon.  Sometimes, the assumption is that the loan officer is just being sneaky. This couldn’t be less true. Rate quotes change in the middle of the day because mortgage markets are in constant flux.  All day, every day — […]

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