September 2015 - Platinum Lending Solutions

Case-Shiller Housing Market Index: Home Prices Rise in July

September 30, 2015
Mortgage News

U.S. home prices rose by 0.10 percent in July according to the S&P Case-Shiller Housing Market Index. San Francisco, California edged past Denver Colorado with a year-over-year price increase of 10.40 percent as compared to Denverâs reading of 10.30 percent. All year-over-readings for the 20-City Home Price Index posted gains, but Washington, D.C. showed the lowest year-over0-year growth rate at 1.70 percent. Chicago, Illinois and New York City followed closely with year-over-year readings of 1.80 percent and 1.90 percent respectively.

FICO Scores 101: How to Shop for a New Mortgage Without Harming Your Credit Score

September 29, 2015
Mortgage News

It's difficult to begin shopping around for a new mortgage without the facts on how this can affect your FICO score. Thankfully, not all credit checks are created equal and they do not affect FICO scores in the same way.

What’s Ahead For Mortgage Rates This Week – September 28, 2015

September 28, 2015
Mortgage News

Last week's scheduled economic news included reports on new and existing home sales, the FHFA House Price Index, and weekly reports on mortgage rates and new jobless claims. The week finished with a report on consumer sentiment.

The New Home Warranty: Why This Benefit Alone Makes Buying New Worth Considering

September 25, 2015
Mortgage News

When making the decision to purchase a home, there can be an array of questions to ask regarding location, size, style and additional features that will complicate things. While buying new can seem like a risk, this type of warranty may help make at least one decision easy when it comes to your home purchase.

Looking Ahead: How to Ensure That You Are Taking Full Advantage of Mortgage Tax Credits

September 24, 2015
Mortgage News

One of the major benefits to purchasing a home with a mortgage are the tax credits that can be taken advantage of when April 15 comes around. Many homeowners are unaware of what mortgage related expenses can be deducted and, more importantly, which ones can no longer be deducted.

National Association of REALTORS – Sales of Pre-Owned Homes Dip

September 23, 2015
Mortgage News

Sales of previously owned homes dropped in August by 4.80 percent on an annual basis for the first time in four months; the dip was likely caused by rising home prices. August sales were reported at a rate of 5.31 million; July's rate was 5.58 million sales of previously owned homes.

Critical Documents That You’ll Need to Have Ready Before Applying for a Mortgage

September 22, 2015
Mortgage News

If not done properly applying for a mortgage can be stressful and time consuming, but with the right preparation the entire process can be seamless. Here are some crucial pieces of information that almost any lender will require before approving a mortgage.

What’s Ahead For Mortgage Rates This Week – September 21, 2015

September 21, 2015
Mortgage News

Last week's economic releases included several reports related to housing. The Wells Fargo/ NAHB Housing Market Index achieved its highest reading in nearly 10 years. Housing Starts dipped in August and Building Permits issued in August exceeded July expectations. The week's big news was actually no news. The Fed's Federal Open Market Committee decided not to raise interest rates. Fed Chair Janet Yellen followed up on the FOMC statement with a press conference and said that the Fed is not yet ready to raise rates, but that a majority of FOMC members are prepared to raise rates before year-end.

NAHB: Builder Confidence Hits Highest Rate in 9 Years; Fed Doesn’t Raise Rates

September 18, 2015
Mortgage News

The National Association of Home Builders (NAHB) / Wells Fargo Housing Market Index reported that home builder confidence rose by one point to a reading of 62 for September. This was the highest reading since November 2005, when the NAHB reported a reading of 68 for home builder confidence.

First-Time Home Buyer? 3 Budgeting Tips to Help Make Your Mortgage Payments Easier

September 17, 2015
Mortgage News

Buying a new home is an exciting time, but excitement can easily turn to stress if there isn't enough money to pay the monthly mortgage bill. The added expense can take some time to get used to, but there are ways to make the payments easier, especially in those first few months when money is the tightest.