I take pride in providing useful information that you will find helpful when making decisions regarding your mortgage. My monthly newsletter covers different topics each month to help increase your knowledge of the mortgage industry and recent industry happenings. Please take a moment to review the monthly newsletter and click on the links on the left hand side for more news and resources. Feel free to pass this newsletter along to any friends and family members who might find it useful and contact me with any questions you may have.
Thank You,
Richard Lopez
Spotlight
The Top Four Housing Market Trends to Keep Your Eye on This Summer
As we enter into the dog days of summer many would expect house sales and prices to pick up, but according to economists and mortgage professionals, this may not be the case in many major markets. Read on to learn a bit more about some of the up and coming mortgage application trends, rate trends and buying trends to ensure you're making financially wise decisions this summer.
Mortgage Rates Are Low, but Predicted to Rise
Though rates remain low, many economists expect mortgage rates to rise, especially now that the Federal government has pulled out of the mortgage game. If you are one of those homeowners who have been putting off a refinance, you may want to consider making the move and locking into a rate within the next few months.
Contact your Gulf States Mortgage Corporation mortgage professional by calling 281-537-8999 to determine whether or not you can benefit from the current low rates.
Housing Prices Continue to Fall
Traditionally the summer is known as the home buying season, but according to Mortgage Bankers Association (MBA), sales are projected to be slow and few in many major housing markets. If you're in search of a property deal, now's the time to hunt.
Take advantage of the slow summer market. Contact your Gulf States Mortgage Corporation mortgage specialist to learn more about what's available in your area and to discuss how much house you can reasonably afford.
New Twist in the Mortgage Application Process
If you're in the midst of applying for a mortgage, think twice before taking on new debt. Sure, it may be tempting to apply for your favorite store's credit offer and save 20% on your purchase, but this small savings can derail your mortgage application process. Mortgage professionals are now required to check your credit before closing, so applying for a new credit card or loan while your mortgage application is being processed may result in major approval delays.
Accurate Good Faith Estimates (GFE)
The feds are cracking down on those lenders who deliver inaccurate good faith estimates and secretly slip in surprise fees at closing. With an accurate GFE you can borrow with confidence. An accurate GFE will ensure you're fully aware of all fees upfront so that you're not stuck with any unexpected expenses when all is said and done.
With these mortgage and housing trends in effect, it is plain to see that now is prime time for buyers and homeowners to consider purchasing a new home or refinancing their current mortgage. Visit Gulf States Mortgage Corporation online at http://gulfstatesmortgage.com or call a mortgage specialist at 281-537-8999 to find a mortgage program that is right for you.
Keeping You Informed
Gulf States Mortgage Corporation mortgage professionals are dedicated to keeping you informed of the latest market trends and mortgage options. Visit Gulf States Mortgage Corporation online at http://gulfstatesmortgage.com, or call us today at 281-537-8999, to obtain custom loan options designed to fit your needs and help you obtain your home goals.
