24hr Mortgage

02 Sep 2021

3 Reasons Why the Cost of Title Insurance is Worth the Investment

Home Mortgage TipsHome Mortgage Tips, Mortgage Insurance, Mortgages

Title insurance is one of the few types of protection policies available to homebuyers and one that is often overlooked because of its optional nature. Because title insurance is purchased simultaneously with the home, it can be very easy to forego when looked at alongside all the additional fees that are associated with purchasing property. This is typicaly not advisable, as title insurance is one of the smartest forms of protection a homeowner can buy. Here are just three reasons why every purchaser should get title insurance. It's The Best Protection Against Fraud Title insurance protects the owner of a…

01 Sep 2021

By 24hr Mortgage

Case-Shiller: June Home Prices Higher

Financial ReportsCase Shiller, COVID19, Home Price Index

S&P Case Shiller Home Price Indices reported new record gains for home prices in June. The National Home Price Index rose by a seasonally-adjusted annual pace of 18.60 percent as compared to May’s home price increase rate of 16.80 percent. Home prices were 41 percent higher than they were during the 2006 housing boom; home price growth was driven by high demand for homes coupled with short supplies of homes for sale. 20-City Home Price Index Posts Month-to-Month Home Price Gain of 2 Percent The S&P Case-Shiller 20-City Home Price Index posted a two percent gain in June as…

31 Aug 2021

By 24hr Mortgage

A Complete Guide: What Is A Credit Freeze And Why Is This Helpful?

MortgageCredit Safety, Freezing Credit, Mortgage

Due to recent changes in federal regulations, consumers are now allowed to freeze their credit free of charge. Prior to changes in these regulations, credit bureaus would charge consumers for freezing their credit. What does this mean, and why might someone want to do this? Freezing Credit Restricts Access To Confidential Information There are certain situations where consumers may need to have access to their credit reports. For example, they may be applying for a home loan or a car loan. There are other situations where consumers may not need access to their credit reports for an extended amount of…

30 Aug 2021

By 24hr Mortgage

What’s Ahead For Mortgage Rates This Week – August 30, 2021

Financial ReportsFinancial Report, Jobless Claims, Mortgage Rates

Last week’s economic reports included readings on new and existing home sales; the University of Michigan released its monthly Consumer Sentiment Index, and weekly updates on mortgage rates and jobless claims were also published. New Home Sales and Median Home Price Rose in July The Census Bureau reported that new homes sold at a seasonally-adjusted annual pace of 353,000 sales in July; analysts expected a pace of 350,000 new homes sold based on June’s reading of 349,000 sales of new homes. Homebuyers are buying new and existing homes at a faster pace as more homes and wider choices become available…

27 Aug 2021

By 24hr Mortgage

The Process Of Estimating Property Values

MortgageHome Estimates, Mortgage, Property Value

Property values are a moving target. They are important to buyers and sellers because everyone wants to get the best deal possible. Sellers want to get as much money for their investment while buyers do not want to overpay for a home. There are a lot of factors that play a role in property values including the economy, the number of people looking for homes, new home construction, schools, the job market, and more. How do real estate agents estimate the value of a home? How Much Will Someone Pay For A Home? The market value of a home is…

26 Aug 2021

By 24hr Mortgage

The Average Length Of Homeownership For Most Families

MortgageEconomy, Home Ownership, Mortgage

It is critical for everyone to find a home that is right for them. Given the current lack of inventory, this can be a significant challenge. Fortunately, the National Association of Realtors (NAR) keeps track of numerous market aspects, including how long the average family stays in a home. For the past few decades, the average family has stayed in their home for approximately six years; however, during the past few years, that average has gone up to nine years. This means that the average homeowner is keeping his or her house longer than he or she did in the…