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Mortgage Rates Projected to Increase

by Cheryl Scott-Daniels

The Mortgage Bankers Association, Fannie Mae and the National Association of Realtors have all projected that the 30-year mortgage rate will be at least 4% by the end of 2013. If we assume that rates will still be at 4% in twelve months, here is the difference a buyer will pay if they wait.

Mortgage

 

This article originally posted by Keeping Current Matters.

Monday Morning Fairfield County Real Estate Market Watch

by Cheryl Scott-Daniels

Monday Morning Fairfield County Real Estate Market Watch

180 single family home sales in Fairfield County were reported over the past week on the Greater Fairfield County Consolidated Multiple Listing Service (GFC CMLS). This number is up from last week. The average sales price was $700,253.

347 New single family homes were listed in the past week with an average list price of $945,043, resulting in a total of 4,112 single family homes currently for sale in Fairfield County on the GFC CMLS.

Cheryl Scott-Daniels’ Monday Morning Fairfield County Real Estate report covers Fairfield County Real Estate market activity over the past 7 days to provide our readers with up-to-date market information they need to make an informed buying or selling decision.  

 

Buy Without Money Worries

by Cheryl Scott-Daniels

When asked to name the greatest perceived obstacle to purchasing a home, most buyers say “Money!”, referring to the down payment, qualifying for a mortgage, or cash for closing costs.  Buyers may know how much is available for the down payment, but they are often unsure about closing costs or how much mortgage money they can get. When money is perceived to be an obstacle, that perception may simply be based on the lack on information. Once all the facts are known, there may be no obstacle at all.

Few buyers want to chance signing a purchase contract only to learn later that they don’t qualify for the correct mortgage amount.  The solution is a simple one!  Buyers can ask their real estate agent to set them up with a “pre-qualification” interview with a mortgage broker or lender. The lender will give a “conditional commitment” based on final verification of a buyer’s financial information. Buyers can then see homes in their price range with confidence as truly “qualified” buyers. Today, most sellers will not consider an offer without first seeing a letter of pre-approval from a lender.

To further assist you, we offer a number of Free Buyer Reports for Fairfield County Home buyers available for download from our website, http://www.yourfairfieldcountyhomes.com/Buyer-Resources/Buyer-Reports

 

Displaying blog entries 1-3 of 3

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