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Tag Archives:interest rates

Jan 6

How the Fed Impacts Mortgage Rates

How the Fed Impacts Mortgage Rates

The Federal Reserve Open Market Committe (FOMC) meets at least eight times per year to discuss and vote on US monetary policy.  The Fed controls the Fed Funds rate, which is essentially a bank’s cost of money.  When the Fed increases the Fed Funds rate, short-term interest rates such as the Prime rate and LIBOR go up.  These are often used to determine interest rates on adjustable rate mortgages, home equity lines of credit, credit card balances, and business loans. However, interest rates on fixed-rate mortgages are not tied to changes in the Fed Funds rate.

Jun 15

Yuma Homebuyer Housing Market Update

Yuma Homebuyer Housing Market Update

Yuma is heating up, and so is the housing market!  The FED announced today that they will not be raising rates just yet.  For homebuyers in Yuma, this is great news!  When you factor in low home prices and REALLY low interest rates, you can’t go wrong buying a house in this market. Qualifying is Easier Than You Think! If you are just missing the down payment, there are plenty of ways to buy a house with zero down (or close to it). The Pathway 2 Purchase program is

Feb 23

With a VA Loan, You Always Have the Best Rate

With a VA Loan, You Always Have the Best Rate

Anyone who has served knows, the military loves its acronyms.  And the VA home loan is no different.  Today we are talking about the VA Interest Rate Reduction Refinance Loan, or IRRRL.  Also known as the VA Streamline Refinance Program, the IRRRL was designed to ensure that as interest rates move up and down, VA borrowers will always have access to the current lowest rates. This program allows you to refinance your existing VA loan into a new VA loan with a lower rate & lower monthly payment.  We have seen

Feb 22

6 Reasons to Consider Refinancing Your Mortgage in Yuma AZ

6 Reasons to Consider Refinancing Your Mortgage in Yuma AZ

If you have a mortgage, you should periodically consider refinancing.  While a 30 year fixed rate is the most common mortgage type, you may be surprised to find that the average life of a mortgage loan is less than 5 years.  Most people don’t stay in a home for 30 years anymore, and even if they do, their lives and financial needs can change drastically over time.  If you have had your mortgage for more than 3 or 4 years, you may want to consider a mortgage checkup.

Aug 15

The Top 5 Ways to Buy a House with Zero Down in Yuma AZ

The Top 5 Ways to Buy a House with Zero Down in Yuma AZ

You may have noticed that the housing market has been heating up around Yuma Arizona over the last few years. With near record low interest rates and discounted home price, owning a home is more affordable than renting in many cases. Still, for a lot of potential home buyers, down payment is the biggest concern. The good news is that there are currently quite a few options for buying a home with little to nothing down. VA Loans Between MCAS Yuma and Yuma Proving Grounds, Yuma is home to

Jan 24

Yuma Real Estate Market Update – January 2014

Yuma Real Estate Market Update – January 2014

In 2013, 2,082 homes were sold in Yuma county.  The average sales price was $132,931. Let’s put those 2 facts into a little bit of perspective. 2006 was considered the peak of the real estate market in Yuma.  In 2006, people we lining up to buy homes.  Investors were coming over from California to snatch up any property they could.  Home builders started refusing to sell to investors.  In fact, in a lot of neighborhoods, you would have to enter your name in a lottery, and then wait

Aug 21

Slow Down!

Slow Down!

Sometimes with 6 crazy little kids running around, breaking things and causing havoc, it is really hard to appreciate this stage of life. I feel like they can’t grow up fast enough.

Aug 23

Buying a Home In Yuma Arizona

Due to weak U.S. economic reports and the impact of the European economic crisis, interest rates have moved lower in the last few days.  As a student of the markets, I can tell you that rates have not been this low in over 50 years, and will not remain this low for long. If you know anyone who is thinking of buying a home in Yuma, there has never been a better time than right now!