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13 Feb 2024

Consider an Adjustable-Rate Mortgage If You Plan to Sell Within 5 Years

Real EstateAdjustable Rate Mortgage, Buying and selling, Real Estate

Which is better -- a fixed-rate mortgage or an adjustable-rate mortgage (ARM)? It's a common question among home buyers and refinancing households. The answer? It depends. Fixed-rate mortgages offer the certainty of a known, unchanging principal and interest payment for the life of the loan. This stability can aid in budget-setting and financial planning, providing homeowners with a sense of security and peace of mind. On the other hand, adjustable-rate mortgages do not provide the same level of certainty. After an initial introductory period, the interest rate on the loan adjusts periodically based on prevailing market conditions. While this uncertainty…

What’s Ahead For Mortgage Rates This Week – February 12th, 2024

Financial ReportsFinancial Report, Jobless Claims, Mortgage Rates

This week is the release of Core CPI and PPI numbers for January. The only data release of note is the trade deficit and the usual unemployment reports for the prior week. The current trade deficit for the U.S. is operating precisely within expectations and correlating GDP numbers. This current week will provide further guidance for the Federal Reserve as the next release of inflation data is released. U.S. Trade Deficit The U.S. trade deficit rose slightly in December, but the annual gap still fell to the lowest level in three years and added to the economy's strong performance in…

Balancing Educational Debt with Homeownership Goals

Student LoansBudgeting, New Home, Student Loans

In the pursuit of the American dream, many individuals find themselves walking a tightrope between educational aspirations and the desire to own a home. The burden of student loan debt can often seem impossible, making the prospect of homeownership feel like a distant dream. With strategic planning and disciplined financial management, it's possible to strike a balance between educational debt and homeownership goals. Here are a few effective strategies to help you navigate this delicate balancing act. Understand Your Student Loan Landscape: Before diving into homeownership, it's crucial to have a comprehensive understanding of your student loan portfolio. Take stock…