This week’s Recommended Article: U.S. mortgage rates reach 3% for first time since April Mortgage rates in the U.S. rose for the first time this month. The average for a 30-year loan was 3 percent, up from 2.94 percent last week, Freddie Mac data showed Thursday. It was the first time since mid-April that the [...]
This week’s Recommended Article: Top Mortgage Myths—Busted Buying a home and getting a mortgage typically go hand in hand. Yet home loans aren’t always easy to understand—and there’s a lot of misinformation out there about how mortgages work. “A lot of home buyers think the process is simple, but when you start explaining the details, [...]
The lending process is often intimidating for buyers, especially those first-timers who have never looked for a loan larger than a used car. Comparison shopping for mortgages is important, though, as rates, fees, and terms can vary widely. So where can your clients streamline the lending process? Morty is an online mortgage comparison shopping platform designed [...]
Do you have clients applying for a mortgage who are worried about some hard-to-explain aspects of their application? Counsel them to attach a “comfort letter.” This piece, “Mortgage Comfort Letters: No Need to Panic,” explains that comfort letters are “statement(s) clarifying your financials so [lenders] can get you to the closing table with minimized risk.” [...]
An ongoing feature in Tuesday Tactics is our “Great Read Roundup” in which we highlight some of the best pieces we’ve read recently and why they might expand your mind or help with your real estate career. The 10 Top Emerging Trends that Will Shape Real Estate in 2018 (15 minute read) Why it matters: Set [...]
There’s a lot of conversation about the future prospects of millennial home buyers, and what it means to the health of the real estate industry. But here’s the catch: Many of these younger buyers don’t have established credit scores. In fact, a surprisingly high percentage are averse to all forms of traditional credit. The Fast Company article [...]
One way you can help prospects eventually become clients is by extending a helping hand when it comes to financial knowledge. Lots of current renters, unemployed, and impoverished students are tomorrow’s home buyers. If you’re the one who helps people realize the dream of home ownership through sound financial guidance, you’re more likely to be [...]
The tiny home trend–fueled in part by television shows and a generational counter cultural movement towards minimalist living–has an interesting problem: Financing. Matt Parker writes in “Why Can’t I Get a Tiny Home?” for REALTORMag: “Like many millennials, my wife and I don’t want a big house. But that’s all we can get a loan [...]
Home buyers may not realize how complex and competitive the lending process can be. For many, especially first-time buyers, there’s only a hazy idea of “the bank” approving or denying them a mortgage. So many don’t realize how to shop for a loan or that investing a little time upfront can result in profound savings [...]
An ongoing feature in Tuesday Tactics is our “Great Read Roundup” in which we highlight some of the best pieces we’ve read recently and why they might expand your mind or help with your real estate career Mortgage Rates Spike to End 2016 (5 minute read) Why it matters: According to mortgage guru Julian Hebron, “If [...]
