Over the past few years, home owners have enjoyed deducting private mortgage insurance (pmi) premiums from their income tax. This is also true for government forms of mortgage insurance (aka funding fee or guarantee fee) with FHA, VA and USDA mortgage loans. This benefit is coming to an end effective on 2014 tax returns.
Mortgage Insurance loses tax deduction benefit in 2014
May 21, 2014 by 2 Comments
What May Impact Rates this Week: May 19, 2014
May 20, 2014 by Leave a Comment
This week we have the following scheduled economic indicators that may impact mortgage interest rates:
- Wednesday, May 21: FOMC Minutes
- Thursday, May 22: Initial Jobless Claims and Existing Home Sales
- Friday, May 23: New Home Sales
What May Impact Mortgage Rates this Week: May 12, 2014
May 12, 2014 by Leave a Comment
I hope all you Moms had a wonderful Mother’s Day weekend. 🙂
On Friday, the DOW enjoyed a record high close at 16,583. Mortgage rates are based on mortgage backed securities (bonds) and often change throughout the day. Here’s what may impact the direction of mortgage interest rates this week:
How Much Cash Do I Need to Buy a Home besides the Down Payment and Closing Cost?
May 9, 2014 by 1 Comment
In addition to the down payment and standard closing cost associated to buying a home, additional funds may be required from the buyer prior to closing on a home. Here’s an example of what home buyers in the greater Seattle area should be prepared for.
What May Impact Mortgage Rates this Week: May 5, 2014
May 5, 2014 by 1 Comment
Happy Cinco de Mayo! This week’s calendar is very light, especially when you compare it to the amount of economic data that was released last week. It’s not just economic reports that may move mortgage rates. The stock markets or world events, such as what’s going on with Russia, may impact the direction of mortgage rates. Here are the economic indicators scheduled to be released this week:
