Blog – Page 571 of 635

24 Oct 2018

You Ask, We Answer: What is Private Mortgage Insurance or ‘PMI’ and How Does It Work?

Home Mortgage TipsHome Mortgage Tips, Mortgage Insurance, Mortgages

For many homeowners, their mortgage payment contains more than just principal and interest. A little something called PMI could be representing a significant portion of that payment, and it's important for home buyers to understand this cost. What Is PMI? PMI stands for private mortgage insurance, or sometimes just mortgage insurance. However, it isn't intended to mitigate risk for the homeowner, but rather the bank. Statistics show that when a home buyer puts less than 20% down on a home, he/she is much more likely to default. So, requiring these buyers to carry PMI helps the bank hedge their losses…

NAHB: Builder Confidence in Housing Market Ticks Up in October

Real EstateBuilder Confidence, Market Conditions, Market Trends

Home builder confidence in national housing market conditions rose one index point for a reading of 68 in October. Readings over 50 indicate that most builders are confident about market conditions. Rolling three-month averages showed mixed results. The Northeastern region gained three points for an index reading of 57; the Midwestern region lost two index points with a reading of 57 and the Southern region posted a gain of one point with a reading of 70. The Western region held steady at 74. Readings for sub-categories of the Housing Market index showed a one-point gain to 74 for current market…

What’s Ahead For Mortgage Rates This Week – October 22nd, 2018

Financial ReportsFinancial Reports, Interest Rates, Mortgage Rates

Last week's economic reports included readings on home builder confidence,sales of pre-owned homes and housing starts. The Commerce Department also issued a report on building permits issued; weekly reports on mortgage rates and first-time jobless claims were also released. Homebuilder Confidence Rises One Point The National Association of Home Builders reported a reading of 68 for October,which surpassed August's reading of 67. Any reading over 50 indicates most home builders are confident about housing market conditions. Builders cited ongoing headwinds including higher prices for materials,shortages of lots and labor and rising mortgage rates. Builders sought ways to provide more affordable…