Simple Real Estate Definitions : Tax And Insurance Escrow

As a homeowner in Gig Harbor , your fiscal responsibility extends beyond just making mortgage payments. You must also pay your home’s real estate taxes as they come due, as well as your homeowners insurance policy premiums. Failure to pay real estate taxes can result in foreclosure. Failure to insure...

Have Mortgage Rates Bottomed Out?

Mortgage rates have troughed. Or, so it seems. According to Freddie Mac’s weekly Primary Mortgage Market Survey, the average 30-year fixed rate mortgage is 4.00 percent nationwide — roughly the same rate as it’s been for 5 weeks.  During that times, rates have ranged between 3.97 and...

Fed Minutes Suggest New Economic Stimulus Next Week

The Federal Open Market Committee released its November 2011 meeting minutes, revealing a Fed split on whether new stimulus is needed for the U.S. economy. The Fed Minutes is published 8 times annually, three weeks after each scheduled Federal Open Market Committee meeting. It’s the official record of...

Washington State Mortgage Rates This Week : December 5, 2011

Mortgage markets made little change last week for the fifth time in as many weeks. As Wall Street watched both the Eurozone and the U.S. regain their respective footing, expectations for a new Fed-led stimulus increased, which prevented mortgage rates from rising. According to Freddie Mac, the average...

More Housing Strength : Pending Home Sales Surged In October

If you’re waiting for home prices to reach its bottom, you may have missed your window. After 3 consecutive months of easing, the Pending Home Sales Index jumped 10 percent in October, lending credence to the belief that housing is in recovery. The Pending Home Sales Index is a monthly publication...

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