Economic News This Week: Not much movement in the rates
It was a quiet week this week, so not much movement in the rates. The big number was Thursday’s June housing starts – a much bigger number than expected at 8.2%. Also, building permits were up 7.3%, which should have made rates go up more, but they did only...
Success Story of the Week: Five siblings, one duplex that they inherited from their mother
Five siblings, one duplex that they inherited from their mother, and none can agree on what to do. Buy and hold forever? Cash out now and buy your own home? Cash out partially and pay off debt? Rent it out? Sell? The family’s trustee, who is also one of the siblings,...
Economic News this Week: Bad News for Interest Rates
It was a busy week this week, even with the July 4th holiday and shortened market day the day before. On Monday, the Institute of Supply Management index for June was 57.8% versus last month’s 54.9%, considered a big jump, which means a more robust economy and...
Success Story of the Week: Getting laid off is harsh
Getting laid off is harsh, but getting laid off after age 50 challenges a family’s ability to keep their home. This couple was referred to me by a co-worker (who has done close to 10 loans with me over the last 18 years) because they were eyeball deep in debt. He was...