Archive for the Business, Finance, Mortgages, Taxes Category
Faron Young - Play Now Pay Later APR versus interest rate: The advertised rate is the one used to calculate your mortgage payment. Borrow $100,000 at 5% with a 30-year term, and the payment is $537. But an advertised rate tells you nothing about the cost of the loan or if it’s a good deal. Suppose you’re offered two loans. Both have a 5% rate, but one costs $1,000 and the other costs $4,000. They’re obviously not the same! What is APR? The annual percentage rate (APR) on a loan includes some of the costs involved in procuring the loan and is meant to provide the consumer w… Read More
"The Heat is ON!!" - Glenn Frey Our housing market has enjoyed the benefits of historically LOW, LOW rates for quite some time now. And, complacency can be the enemy of building wealth. This morning we've seen the largest swing in mortgage interest ra… Read More
“What We Got Here is Failure to Communicate”! Portland’s Sellers Market–Is It Time to Consider a Move???
"Cool Hand Luke" Our recovering Portland Metro real estate market is still a bit tentative and I totally understand!!! We are slowly emerging from 4-5 years (according to when you feel our recent real estate bust began and ended) of plunging property values, "underwater" mortgages and an uncertain economy!! Now increased faith in our overall economic status + historically low interest rates + diminished housing prices are luring buyers back into the marketplace at a more rapid pace than sellers are preparing for market. So, as the warden in "Cool Hand Luke" said to Paul Newman "what… Read More
"Missed Opportunity" - Alfa Here is a re-post of a very interesting article on mortgage rates written by Eric Newman of American Pacific Mortgage (with permission). Please don't hesitate to call Eric at 503-698-5801 for more information. Interest rate… Read More