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Joseph Roraff's Blog

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By Joseph Roraff | Agent in Onalaska, WI
  • Getting Pre qualified for a home loan

    Posted Under: Home Buying in Onalaska, Financing in Onalaska, Home Insurance in Onalaska  |  April 2, 2014 2:31 PM  |  297 views  |  No comments
    Here is a great video on getting pre qualified for a home loan. Make sure you know how much you can spend on a home before you start searching for a house. Give me a call if you have any questions!

  • Little to no down payment loans

    Posted Under: Home Buying, Financing, Rent vs Buy  |  March 25, 2014 4:32 PM  |  245 views  |  No comments
    There are a lot of loans with no down payment or down payment assistance. Watch the video linked to this blog for more information on USDA, FHA and Conventional loan down payments.

  • FHA 203k Loans, What is a FHA 203k Rehab loan?

    Posted Under: Home Buying in La Crosse County, Financing in La Crosse County, Home Ownership in La Crosse County  |  March 11, 2014 1:32 PM  |  288 views  |  No comments
    A new weekly video talking about FHA 203k loans. What they are and what restrictions are on them.

  • 9 ways you can cash in on your home

    Posted Under: Home Selling, Financing, For Rent  |  March 2, 2013 11:58 AM  |  246 views  |  No comments
    Don't you want to cash in on your biggest investment? Of course you do! Click the link below immediately :)

  • Freddie Mac: 30-Year Fixed-Rate Mortgage Averaged 3.51%

    Posted Under: Market Conditions, Home Buying, Financing  |  March 1, 2013 9:56 AM  |  205 views  |  No comments

    Good stuff from Tess Tynes writing for the WSJ...

    By Tess Stynes

    Average fixed mortgage rates in the U.S. fell over the past week after remaining mostly unchanged over the past month, according to mortgage-finance companyFreddie Mac FMCC +5.28%.

    Freddie Mac Chief Economist Frank Nothaft said mortgage rates eased somewhat last week though economic data continues to show signs the housing market is improving, including reports that the number of existing and new home sales during February hit the highest levels since July of 2007 and July 2008, respectively.

    For the week ended Thursday, the 30-year fixed-rate mortgage averaged 3.51%, compared with 3.56% the previous week and 3.9% a year earlier. Rates on 15-year fixed-rate mortgages averaged 2.76%, versus 2.77% a week earlier and 3.17% a year ago.

    Five-year Treasury-indexed hybrid adjustable-rate mortgages, or ARMs, averaged 2.61%, compared with 2.64% the previous week and the 2.83% rate set a year earlier.

  • 30-year mortgage rate steady at 3.53%

    Posted Under: Market Conditions, Financing, Rent vs Buy  |  February 16, 2013 4:02 PM  |  139 views  |  No comments

    WASHINGTON (AP) — The average rate on 30-year fixed mortgages was unchanged for a second week, remaining near historic lows.

    The rate on 15-year mortgages also stayed the same. Low mortgage rates are helping to strengthen the housing recovery.

    Mortgage buyer Freddie Mac said Thursday that the rate on 30-year loans averaged 3.53% for a second week. That's near November's 3.31%, which was the lowest rate on records going back to 1971.

    The rate on 15-year fixed mortgages stayed at 2.77% for a second week. The record low is 2.63%.

    Adjustable rates rose slightly. One-year adjustable mortgages averaged 2.61%, up from 2.53% last week. And the average rate on five-year adjustable-rate mortgages edged up to 2.64% this week from 2.63% last week.

    Low mortgage rates have helped boost sales, and that has helped push home prices up, which makes consumers feel wealthier and helps boost consumer spending. Increased housing demand is also boosting home construction.

    Still, housing has a long way to go to achieve a full recovery. And many people are unable to take advantage of low mortgage rates, either because they can't qualify under stricter lending rules or they lack the money to meet larger down payment requirements.

    To calculate average mortgage rates, Freddie Mac surveys lenders across the country Monday through Wednesday each week. The average doesn't include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1% of the loan amount.

    The average fee for 30-year loans was 0.8 point, same as last week. The fee for 15-year mortgages was 0.8 point, up from 0.7 point last week. The fee for one-year adjustable rate mortgages was 0.3 point, down from 0.4 point last week.


  • As Housing Market Rebounds, Listing Prices Cut the Other Way

    Posted Under: Market Conditions, Financing  |  January 16, 2013 3:54 PM  |  109 views  |  No comments

    The end of the year typically represents prime time for savvy home buyers who pounce on last-ditch discounting by sellers. But in another sign that 2013 may be brighter for housing, price reductions on for-sale homes are getting harder to find in many markets.

    Bloomberg NewsNew research from Trulia shows that fewer homes are seeing asking-price reductions. 

    Out of the 100 largest metro markets, 33.6% of homes for sale saw price drops from their original or recent listing price in the last six months, according to data to be released on Wednesday by home listing and research company Trulia TRLA -1.64%. In the same period a year earlier, a larger share, 36.7% of homes, went down in price. Overall, 83 of the 100 markets studied had fewer price reductions than in the previous reporting period.

    In the case of homes that have been listed for more than six months, the current price was compared with the price from six months ago. Foreclosures were excluded from the data.

    On the metro level, the difference was even starker. In Oakland, Calif., which recorded the smallest percentage of price reductions, only 15% of homes dropped in price. In the same period a year ago, 31% of homes experienced price cuts. “As prices strengthen and the market gets tighter, sellers are better able to sell without having to reduce prices,” said Jed Kolko, chief economist for Trulia.

    The year-over-year median sales price for existing homes has risen for nine consecutive months through November, the most recent month when data were available, according to Walter Molony, a spokesman for the National Association of Realtors. Fewer asking-price reductions could mean sales prices continue to improve.


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