Low Interest Rates – How long Will they Last?

The media is abuzz – interest rates are low. They have been surprisingly low all year, as a matter of fact, and have been unusually stable as well. They took a nice dip a couple of weeks ago, and now are skipping along the bottom, apparently happy (for now) in an even lower range. Today,...

It is About to Get Easier to Get a Mortgage

You’ve heard that it’s almost impossible to get a mortgage these days because mortgage underwriting is so crazy. Ben Bernanke was turned down, for goodness sake! What if I told you that might all change in the next few weeks, and it is about to get significantly easier to get a mortgage? Fair warning: this...

Who Buys Homes? Homeownership by Profession

Here’s an interesting article. In today’s Marketwatch column Amy Hoak explores which professions are more likely to own homes. So, who buys homes? At first glance the list is a little surprising. While you would think that income level would be the primary driver of homeownership rates, that isn’t the case. In fact, a factor...

Rent vs. Own –Comparing ROI

We know from my post of October 2nd that we can calculate (using a few reasonable assumptions) when you will spend more on your annual housing cost if you purchase a home, compared to renting, and about what the difference will be over your lifetime. But in our analysis of rent vs. own, how does...

Lowest Mortgage Rates Remain Steady

I’ll cover interest rates again today as I haven’t done that for a while. The lowest mortgage rates are offered by Fannie Mae for prime borrowers. At the beginning of this year all the smartest guys in the room agreed interest rates would rise steadily over the course of the year, and end up around...

Rent vs. Own – Where is The Break-Even?

First time home buyers inevitably compare the monthly cost of owning a home against the cost of renting. This is natural, but the greatest mistake that most make in doing so, is thinking in terms of the monthly cost only, and not the lifetime costs. Well-meaning real estate agents usually encourage this thinking, and that’s...