Tehachapi home buyers may be in a quandary as to whether mortgage rates will rise or remain stable. The second question is whether or not it should make any difference in the timing of your home purchase. Let's look at these issues one at a time. Will mortgage rates rise for Tehachapi area home buyers? I wouldn't … Continue reading Will Mortgage Rates Increase or Remain Stable for Tehachapi Home Buyers?
How's that new neighborhood you're thinking about moving into? One of the most important steps a home buyer can take when deciding which home to purchase is to conduct “drive bys” of the house and the neighborhood at various times of the day. Don't forget to include both week and weekends too. Take the … Continue reading How's That New Neighborhood, Really?
Congress is about to approve a program to put contractors back to work doing energy retrofits. If “Cash for Caulkers” passes, home owners will be eligible for a tax credit worth up to $12,000 or half the cost of the retrofits, whichever is lower. A home owner who spends $24,000 to cut his energy use … Continue reading Cash for Caulkers: Appealing to Home Shoppers?
2009 saw historically low mortgage rates. Early last year, the Federal Reserve announced plans to purchase debt and mortgage-backed securities from Fannie Mae and Freddie Mac to lower interest rates for consumers and spur homebuying. As a result, rates on 30-year, fixed mortgages fell to historic lows. 2010 rates are expected to rise because the Fed’s … Continue reading Mortgage Rates Rise in Response to Wind-Down of Federal Support