What’s Ahead For Mortgage Rates This Week – April 23rd, 2018

Last week’s economic reports included readings on builder confidence, housing starts and building permits issued. Weekly readings on mortgage rates and new jobless claims were also released. NAHB: Builder Confidence Drops by One Point The National Association of Home Builders reported that builder confidence dipped by one point in April to an index reading of 69. While any reading over 50 indicates positive builder sentiment, NAHB noted that builder sentiment has decreased for the past four months. During the housing bubble of 2004 and 2005, builder confidence in market conditions averaged 68, but analysts said that the post bubble crash in home values was preceded by several months of decreasing builder sentiment.  Builders are maintaining a steady approach to housing starts despite high demand in...

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Your Guide To Aging In Place Home Modifications

If you’ve had to watch your parents transition into assisted living, you may have no desire to call such a place home. You are not alone. According to the Aging in Place Housing Survey conducted by the American Association of Retired Persons (AARP), more than 90 percent of seniors want to remain in their home. Many survey respondents said that they would rather use nursing home funds towards purchasing a home that is suited for aging in place or making accessible home modifications.   You’ve probably heard the buzzwords — aging in place, non-assisted living, universal design — these phrases mean the same thing: growing older in your home. Today, home modifications can help you continue to live in your home as you age. Plus,...

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Best Tax Deductible Home Improvements for Homeowners

Before delving into tax-deductible home improvements, it’s important to understand that these tax deductions won’t be applied immediately. In most cases, homeowners can only benefit, tax-wise, from their home renovations later, when they sell their home. It’s important for homeowners to keep receipts for their improvements, though so they have proof of the improvements they made, even if it’s years later when they sell their residence. Typical Renovations/ Home Improvements That Can Yield Eventual Tax Benefits A home improvement is any project that substantially adds value to a home. It can include adapting it to be more useful or be improvements that allow it to be used differently. The following are some general home improvements that can yield tax savings when a home is sold...

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Pros and Cons of Adjustable Rate Mortgages

When you are in the market for a new home, you may be faced with numerous options for financing your home. One of the choices you will have to make is whether to apply for a fixed or adjustable rate mortgage. In some cases, an adjustable rate mortgage (ARM) may be your best option, but keep in mind, they are not the answer for everyone. Adjustable rate mortgages can be risky for some borrowers and it’s important to understand both the pros and cons. When To Consider Adjustable Rate Mortgages Perhaps one of the best things about ARMs is they typically have a lower starting interest rate than fixed rate mortgages. For some borrowers, this means it is easier for them to qualify for a...

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