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Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
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With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
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Is the Fed’s Low Interest Monetary Policy Resulting in More Cash Purchases?
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Is the Fed’s Low Interest Monetary Policy Resulting in More Cash Purchases?
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Is the Fed’s Low Interest Monetary Policy Resulting in More Cash Purchases?

March 5, 2012 (Shirley Allen)

You would think that with mortgage rates hovering near their all-time record lows for the last four months, more home buyers would be taking advantage of the low rates and finance their new home purchases instead of paying cash, but evidence points to the contrary.

One of the consequences of the Federal Reserve’s low interest monetary policy is that it also results in a low rate of return on money deposited in the various types of saving accounts available at banks.

Saving accounts can pay as low as 0.01 percent interest, while a six month Certificate of Deposit typically pays only about 0.45 percent interest and even a one-year Certificate of Deposit typically only pays around 0.75 percent interest.

With such a low rate of return on money, it has now become advantageous for some home buyers to forego today’s low mortgage rates and shop with cash according to the latest results of the monthly Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.

The survey found that the percentage of current homeowners who were looking to either downsize, upsize or who were relocating, and who used cash to purchase a new principal residence, increased from 25.8 percent in October to 29.0 percent in January.

Ironically, the increase in cash purchases began to occur right around the same time period that the Federal Reserve announced that its low interest monetary policy would remain in place for the next several years.

Thomas Popik, research director for Campbell Surveys, stated, “”Both mortgage rates and certificate of deposit rates have been very low for some time now. But when the Federal Reserve explicitly said that bank rates will remain low for several more years, I think a lot of affluent homebuyers just threw in the towel and decided to use all cash.”

By contrast, cash purchases by both investors and first-time homebuyers have remained flat during that same time period. Campbell Surveys estimates that if the current rate of cash purchases remains, almost 50 percent of current homeowners will use cash to purchase homes by the end of 2012.

And more cash purchases could also have a negative effect on home prices. Recent surveys have suggested that all-cash buyers can obtain higher discounts compared to buyers who have submitted offers with mortgage financing contingencies, especially when it comes to buying distressed properties.

Additionally, in the latest survey, the HousingPulse Distressed Property Index reports that through the end of January, distressed properties accounted for 46.8 percent of home purchases using a three-month rolling average. It was the 25th consecutive month that distressed property sales had accounted for over 40 percent of all sales.

Tags: distressed properties, REO, move-in ready, damaged, foreclosure, short sales, cash purchases

Source
Campbell/Inside Mortgage Finance

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

March 5, 2012 (Shirley Allen)

You would think that with mortgage rates hovering near their all-time record lows for the last four months, more home buyers would be taking advantage of the low rates and finance their new home purchases instead of paying cash, but evidence points to the contrary.

One of the consequences of the Federal Reserve’s low interest monetary policy is that it also results in a low rate of return on money deposited in the various types of saving accounts available at banks.

Saving accounts can pay as low as 0.01 percent interest, while a six month Certificate of Deposit typically pays only about 0.45 percent interest and even a one-year Certificate of Deposit typically only pays around 0.75 percent interest.

With such a low rate of return on money, it has now become advantageous for some home buyers to forego today’s low mortgage rates and shop with cash according to the latest results of the monthly Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.

The survey found that the percentage of current homeowners who were looking to either downsize, upsize or who were relocating, and who used cash to purchase a new principal residence, increased from 25.8 percent in October to 29.0 percent in January.

Ironically, the increase in cash purchases began to occur right around the same time period that the Federal Reserve announced that its low interest monetary policy would remain in place for the next several years.

Thomas Popik, research director for Campbell Surveys, stated, “”Both mortgage rates and certificate of deposit rates have been very low for some time now. But when the Federal Reserve explicitly said that bank rates will remain low for several more years, I think a lot of affluent homebuyers just threw in the towel and decided to use all cash.”

By contrast, cash purchases by both investors and first-time homebuyers have remained flat during that same time period. Campbell Surveys estimates that if the current rate of cash purchases remains, almost 50 percent of current homeowners will use cash to purchase homes by the end of 2012.

And more cash purchases could also have a negative effect on home prices. Recent surveys have suggested that all-cash buyers can obtain higher discounts compared to buyers who have submitted offers with mortgage financing contingencies, especially when it comes to buying distressed properties.

Additionally, in the latest survey, the HousingPulse Distressed Property Index reports that through the end of January, distressed properties accounted for 46.8 percent of home purchases using a three-month rolling average. It was the 25th consecutive month that distressed property sales had accounted for over 40 percent of all sales.

Tags: distressed properties, REO, move-in ready, damaged, foreclosure, short sales, cash purchases

Source
Campbell/Inside Mortgage Finance

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

March 5, 2012 (Shirley Allen)

You would think that with mortgage rates hovering near their all-time record lows for the last four months, more home buyers would be taking advantage of the low rates and finance their new home purchases instead of paying cash, but evidence points to the contrary.

One of the consequences of the Federal Reserve’s low interest monetary policy is that it also results in a low rate of return on money deposited in the various types of saving accounts available at banks.

Saving accounts can pay as low as 0.01 percent interest, while a six month Certificate of Deposit typically pays only about 0.45 percent interest and even a one-year Certificate of Deposit typically only pays around 0.75 percent interest.

With such a low rate of return on money, it has now become advantageous for some home buyers to forego today’s low mortgage rates and shop with cash according to the latest results of the monthly Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.

The survey found that the percentage of current homeowners who were looking to either downsize, upsize or who were relocating, and who used cash to purchase a new principal residence, increased from 25.8 percent in October to 29.0 percent in January.

Ironically, the increase in cash purchases began to occur right around the same time period that the Federal Reserve announced that its low interest monetary policy would remain in place for the next several years.

Thomas Popik, research director for Campbell Surveys, stated, “”Both mortgage rates and certificate of deposit rates have been very low for some time now. But when the Federal Reserve explicitly said that bank rates will remain low for several more years, I think a lot of affluent homebuyers just threw in the towel and decided to use all cash.”

By contrast, cash purchases by both investors and first-time homebuyers have remained flat during that same time period. Campbell Surveys estimates that if the current rate of cash purchases remains, almost 50 percent of current homeowners will use cash to purchase homes by the end of 2012.

And more cash purchases could also have a negative effect on home prices. Recent surveys have suggested that all-cash buyers can obtain higher discounts compared to buyers who have submitted offers with mortgage financing contingencies, especially when it comes to buying distressed properties.

Additionally, in the latest survey, the HousingPulse Distressed Property Index reports that through the end of January, distressed properties accounted for 46.8 percent of home purchases using a three-month rolling average. It was the 25th consecutive month that distressed property sales had accounted for over 40 percent of all sales.

Tags: distressed properties, REO, move-in ready, damaged, foreclosure, short sales, cash purchases

Source
Campbell/Inside Mortgage Finance

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS