Archive for October, 2010

30-Year Mortgage Rates Plumb New Depths

Monday, October 18th, 2010

Freddie Mac reports that the average interest on 30-year fixed mortgages slipped to an all-time low, for the third consecutive week, to 4.19 percent.

At the same time, 15-year fixed-rate loans and the five-year adjustable-mortgage rate both also hit record lows. Rates on the former were 3.62 percent, while the latter averaged just 3.47 percent.

Source: The Wall Street Journal, Nathan Becker (10/15/10)

Kevin Bergin

Monday, October 11th, 2010

The Amy Willis team made the themselves available to us, regardless of the time or day. When we had requests or concerns, they were prompt to address them. During every step of our buying our home, a member of the team was there, in person, to answer any question or address any issues.

Daniel and Hope Abrego

Friday, October 1st, 2010

Who’d of thought that blessings could come in the form of a realtor? When we’re in need of a doctor, lawyer, or any professional for that matter, we want the best for our family. Why settle for anything less for something as important as selling/purchasing your family’s home? We got exactly that with Amy and her team. We were guided through every step of the process making it easier with a better outcome for us than expected.  We praise God for connecting us with the Willis family. Simply wonderful!

Most Homebuyers Have No Regrets

Friday, October 1st, 2010

An overwhelming 90 percent of homeowners say they don’t regret buying their current home, according to a new study by Bankrate, Inc.That’s even in the face of stagnant – or sliding – home prices they’ve suffered and rock-bottom mortgage rates they may have missed out on.

Only 9 percent of respondents expressed second thoughts about taking the plunge. Why? Most often because they couldn’t sell their home and move on, or because they were unable to afford the monthly mortgage payment.

“It’s surprising and reassuring to hear 90 percent of homeowners say they don’t regret the purchase of their current homes,” says Greg McBride, CFA, senior financial analyst for Bankrate.com.

“And all the nasty headlines in the past two years have really moved the needle in terms of mortgage awareness, with a significant drop in the percentage of borrowers who don’t know what type of mortgage they have,” McBride said.

Only 8 percent of Americans don’t know what type of mortgage loan they have. That’s a lot lower than the 26 percent of respondents in a Bankrate study done two years ago who said they were in the dark about their mortgage type.

Being bullish on homeownership isn’t necessarily new. A recent Fannie Mae report revealed 70 percent of consumers see a home as one of the safest investments to make and 64 percent think now is a good time to buy.

“The key to any real estate survey conducted in today’s market would be to factor in the state where the survey’s respondents reside. In many parts of the country, particularly in the Central states, they did not experience a real estate boom like the West and East coasts and therefore are not faced with the fall out of a dramatic real estate bust today,” said Nancy Osborne, chief operating officer of Erate.com, a Santa Clara, CA-based financial information publisher and interest rate tracker.

She added, “Feelings about homeownership should have changed very little in those states where home prices and equity have remained relatively stable.”Other results in the Bankrate poll of 1,001 randomly selected adults, conducted last month by Princeton Survey Research Associates International, include:

  • Fixed-rate mortgages are gaining in popularity. Seventy-nine percent of respondents said they had this type of mortgage on their home.  
  • Wealthier Americans — those making more than $75,000 — overwhelmingly preferred fixed-rate mortgages. Almost 90 percent of those who were asked, said they used a fixed-rate mortgage.
  •  

    By: Broderick Perkins