C21AGVoices

“Economic uncertainty” is turning into a 2008 buzzword and there’s a lot of good reasons why. On the one hand, there are precursors to inflation in the economy: Rising oil costs Rising food prices Higher Cost of Living On the other hand, there are precursors to recession in the economy, too: Mounting job losses Less […]

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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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Okay, maybe I am overly focused on food, but it happens to be a community magnet, so maybe I’m not the only one. After telling you about the Glenside Farmer’s Market last week, I couldn’t help but think about another community staple, this one in the Mt. Airy section of Philadelphia. (What is it about […]

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Last week, Forbes Magazine published a Top 10 list that should grab the attention of housing market bottom-feeders. The Top 10 list of Increasingly Affordable U.S. Housing Markets shows that falling home prices and steady mortgage rates are providing a support floor in some of the country’s most beat-up regions. The report’s methodology is simple: Take […]

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On the first Friday of each month, the Bureau of Labor Statistics releases its Non-Farm Payrolls report. More commonly, it’s called the “jobs report”. The jobs report is a sector-by-sector look into the U.S. economy and whether businesses are hiring — or firing — workers. This is one of the reasons why its release is […]

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A Home Equity Line of Credit is bank product that grants homeowners access to the equity in their home at anytime, usually using checks. Often called a HELOC, these equity-based credit lines function very much like credit cards: The rate is adjustable, tied to Prime Rate There is a minimum monthly payment There is a pre-set […]

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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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