A lot of buyers have been flocking the market in this busy spring home buying season because of the low mortgage rates. While a lot of people are taking advantage of the rates nearing its lowest in three years, a recent report shows that there was a drop in the number of mortgage applications because of a slight increase in the interest rates.
The fourth quarter CRE loss rates, which is the annualized charges as a percentage of average loan balances, is now being reviewed by regulators recently. This is part of the oversight on financial institutions' activities that are related to commercial real estate loans. The oversight was instituted to prevent the market crash recently experienced by the real estate market.
Spring is when most sellers put their homes for sales and buyers shop for new properties as the weather looks better. But with the buying season already on, mortgage rates picked up for the second straight week.
Mortgage payments are long-term commitments, as you will most likely be paying it for 15 or 30 years of your life depending on your term. Given this long commitment, you may want to choose for the best mortgage out there for you, as this will determine the payments you will be making for quite some time. How do you know which mortgage company or lender is best for you?
Whether it was an accident or a one-time mistake you made that sent you to prison, your record is more likely tarnished forever. For some, starting a new life after prison could be a hard thing, such as finding a secure and safe home. Can you buy or rent a home if you have a criminal record?
Mortgage payments sound like a long-term commitment for most people because it entails giving monthly payments to the lender for 15 or 30 years. While these two might sound like the only options one can choose from, there are several ways in which you can pay off your mortgage in as fast as three years.
Getting a higher home appraisal is a must if you wish to refinance the mortgage on your home and hopefully, secure better loan options and payments later on. While the appraisal would depend solely on the appraiser, there are ways you can do to ensure you can get higher home appraisals.
The current tax imposable on transfers on real property is pegged at one percent for the first $200,000. The rate increases to two percent when the property is worth $2 million and anything over that is taxed at three percent. Many first time buyers are exempt from this tax. With this tax alone, a projected $1.5 billion in revenues are expected to be collected between 2015 and 2016 alone.
There are many reasons why spring is busy for real estate. One of the reasons is that homes look better during spring. This causes listings to expand and increase available inventory. Alongside this is the increase of potential buyers interested in purchasing a home at this period. With these two factors, home prices naturally would increase as demand increases.
With previous articles showing that Ordos Kangbashi as the "largest ghost city in China", recent reports have started to dispute the assertion. Recent government announcements said that the city is at 90 percent occupancy.
As of the moment, the average rental cost is at £1,867 per month. This was 2 percent higher from prices at the start of 2015 as observed by real estate agent Portico's London Rental Market Report. In the said report, based on its historical data, two bedroom homes would reach £2,008 per calendar month by the time September comes around.