According to the Mortgage Bankers Association, mortgage credit availability increased by 0.7% in November, and JTS & Co.
Can help you take advantage of t he looser lending standards.
Good morning, i?m jeff farnham.
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According to the mortgage bankers association, mortgage credit availability increased by 0.7% in november.
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This indicates that lending standards have loosened, and more borrowers are now eligible for a mortgage, than the month prior.
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Also, according to the mba, in the 3rd week of november, mortgage applications increased 3.9%.
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Of those applications, 71.1% were for home refinancing, which is up from 79% for the same week last year.
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According to black knight, as of november 20th, approximately 19.4 million homeowners can save an average of $309 per month by refinancing.
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In fact, if every qualified borrower refinanced, the total potential savings would be the most ever recorded ?
A massive $5.98 billion.
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Speak to one of our loan advisors today to see if a refinance can bring you big savings.
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Mortgage rates initially rose in mid-november when pfizer announced its encouraging covid-19 vaccine news.
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But the increase was just a blip, as covid cases soared and lockdowns started to return around thanksgiving in some regions across the country.
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Rates can go up or down at any time, so ultra-low mortgage rates may not stick around much longer, especially as more covid-19 vaccines move closer to approval and give the financial markets a boost.
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Therefore, if you're considering a home purchase or refinance, you might want to take advantage of the low rate while they are still available.
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Making home improvements to increase your home's value is always a wise investment, but according to redfin, there are certain projects that you should always hire a professional for, instead of attempting to do it yourself.
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Those projects are electrical work, plumbing, and roof, siding and foundation replacement or repairs.
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Some smaller investments that can make a big difference, which you may be able to do yourself are to update your lighting, replace flooring, add new cabinets, apply new paint, replace window treatments, and upgrade your bathroom with a new vanity, hardware, paint color, or flooring.
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If you don?t have the money on- hand to cover the larger home renovation costs, a cash-out refinance may help.
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Speak to one of our loan advisors to see if a cash- out refinance may be right for you.
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A better credit score brings lower mortgage rates when buying or refinancing.
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If your credit score needs some help, the first step should be to check your free credit reports and make sure there are no errors that could bring your score down.
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A study from the federal trade commission found that 20% of u.s. consumers had potentially costly mistakes on their credit reports.
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So be sure to check your credit reports, especially if you are considering buying a home or refinancing in the near future.
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At jts & co.
We are your local mortgage advisors that can help secure your lowest rate on a mortgage or refinance.
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We?re experts at matching you with the mortgage that makes the most sense for your situation, as there is no one- size-fits-all home loan.
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Jts & co.
Is your lifetime mortgage advisor.
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We can guide you on all your home financing needs, especially as they change over time.
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Visit our website or text jts at 33655 to get pre- qualified today.
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We are local, trusted, and experienced.
Thank you for joining me today and remember to tune in again next week!
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