by Athena Paquette | November 17, 2022 | Blog | 0 Comments

A mortgage is a loan or debt that is secured by real estate. In some states it is also the word used for the lien that is put on the property to secure the debt. Normally this loan is paid back over a specific time , like 30 years or 15 years, until the entire...

How raising the prime rate makes mortgage rates go down

by Athena Paquette | September 26, 2022 | Blog | 0 Comments

I have talked about this before but I think it is worth revisiting after our talk last week about the prime rate. The Federal Reserve raised the Fed Funds rate (often confused with the prime rate) by 0.75% this week.to 1.75% it was 0.25% a year ago. The highest 1-day...

Mortgage Minute – ARMS and HYBRIDS

by Athena Paquette | September 19, 2022 | Blog | 0 Comments

What do you do when mortgage interest rates jump up 2% in 4 months? Don’t go LONG, go SHORT use a HYBRID ARM loan ARM means adjustable-rate mortgage. But some people are not comfortable with the idea that their mortgage payment and that the interest rate will start...

Mortgage Minute – Adjustable rate mortgages or ARMS

by Athena Paquette | September 12, 2022 | Blog | 0 Comments

When rates go up, we usually see a switch over from the 30 year fixed to ARM loans. Why go LONG at a high rate when you can go short at a lower interest rate and get the upfront savings? People do this to help ease the payment shock of rates going up and to help them...

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Economic News this Week: A light Week for Economic Data this Week

Mar 12, 2018 | Blog, Featured

Monday: The ISM came out with their number on the Service Sector. Their reading came in at 59.5, versus last month’s 59.9% - a little bit of a yawner, but also a relief that it didn’t jump, causing more inflation scares. Friday: The February payroll numbers were...

Success Story of the Week: Will FHA work for you?

Mar 12, 2018 | Blog, Featured

I got a call this week from a gentleman who was turned down for an FHA loan for some units he wanted to buy. He didn’t know why he wasn’t approved, and he was in a panic since he needed full loan approval in 2 weeks so he could close in 4 weeks. When he told me the...

Economic News this Week: This week was chock full of data, so rates tipped one way then the other.

Mar 4, 2018 | Blog, Featured

Monday January new homes were down 7.8% which is not good news for builders, but good news for rates. Tuesday the New Federal Reserve Chair Powell hinted that the inflation and acceleration of growth both might indicate a need for more rate hikes this week. Wednesday...

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