Mortgage Rates Hardly Move

Pineaple

Freddie Mac just released it’s weekly Primary Mortgage Market Survey, which shows U.S weekly average mortgage rates as of  November 29, 2018.

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This survey shows how U.S weekly average mortgage rates change during the week of November 22-29, 2018. This survey is released every Thursday ( this time it was on November 22,2018)

For this week, November 29, 2018, survey shows, that 30-year fixed rate mortage did not change since the last week and stayed the same at 4.81 percent since the last week’s survey.

The 30-year fixed rate mortgage increased by 91 points in a year. For the week of November 30, 2017, when rate average was 3.90 percent.

The 15-year fixed-rate mortgage went up by 1 point in one week and now it is at 4.25 percent, when last week was 4.24 percent.

The 15-year fixed rate mortgage for the year increased by 95 points.  It was 3.30 percent on November 30, 2017.

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Since April 1971, Freddie Mac has surveyed the lenders all across the U.S.A weekly in order to get the average 30-year fixed-rate mortgage rate

Mortgage Rates Dropped During the Week

Gate to the side yard
Gate to the side yard in Hollywood, FL

Freddie Mac released another weekly Primary Mortgage Market Survey on August 23rd ,2018. It shows U.S weekly average mortgage rates for the week ending August 23rd, ,2018.

Mortgage rate dropped during the last week:

Freddie Mac 8_23_2018. Primary Mortgage Market Survey
Freddie Mac 8_23_2018. Primary Mortgage Market Survey

The highest interest point for 30-year fixed-rate mortgage was for the week ending May 24th, 2018. It was 4.66 percent.

The highest interest rate for 15-year fixed-rate mortage was for the same week ending May 24th, 2018, and it was 4.15 percent.

 

Freddie Mac 8_23_2018. US weekly mortgage averages
Freddie Mac 8_23_2018. US weekly mortgage averages

30-year fixed-rate mortgage dropped by 2 points since August 16th, 2018, when it was 4.53 percent, and current is at 4.51 percent.

30-year fixed-rate mortgage increased by 65 points since August 24th, 2017, when it was 3.86 percent.

15-year fixed-rate mortage dropped by 3 points since the last week’s August 16th, 2018 results of 4.01 percent. Now the 15-year fixed rate mortgage is at 3.98 percent.

15-year fixed-rate mortage increased by 82 points in one year since the August 24th, 2017 when it was  3.16 percent.

 

Notice of Proposed Property Taxes (“TRIM Notice”)

Building in downtown Fort Lauderdale,FL
Building in downtown Fort Lauderdale, FL

Did you receive your 2018 Notice of Proposed Property Taxes ( “TRIM notice” )in the mail? It was send by Broward County Property Appraiser Marty Kiar.

As you received your letter in the mail, please remember – it is NOT a tax bill, but a document so that homeowner can make sure not to pay too much in property taxes. There was a newspapers included that explained the TRIM notice.

The property appraiser does not send tax bills. The property collector does not set or collect taxes. This is job for Broward County Tax Collector.

What Is a Fixed-Rate Mortgage?

What is Fixed-rate mortgage
Downtown Fort Lauderdale, FL

A fixed-rate home mortgage has an interest rate that remains the same for the life of the mortgage.

That means, the monthly pricipal and interest payment will not change during the life of mortgage.

It has one single the same payment every month, what gives stability and predictability to plan for the monthly budget.

Here are some other blog posts that I have written already about the mortgage: what is a mortgage , Fannie Mae loan,and Freddie Mac loan.

What Is a Title Search in Real Estate?

House in east Fort Lauderdale, FL
House in east Fort Lauderdale, FL

A title search in real estate is a process of researching of a real property history. It is done when a real property  is being sold and getting a new owner.

The property buyer wants to investigate the history of a particular property by looking into legal records for any changes done, inconsitency and irregularities with the legal documents of the property. All the legal documents show events in the history of real estate.

All recorded documents regarding a specific real estate property are looked into to decide on the current condition of real estate title.

 

When buying a real property, a title search is done to answer three main questions regarding a real property :

  1. Does the seller have a saleable and marketable claim in the property?
  2. What kind of restrictions or allowances come with the use of the land? ( example: real covenants, easements and others)
  3. Do any liens exist on the property which need to be paid off at closing? ( example: mortgages, back taxes, mechanic’s liens, and others)