Blog :: 2013

Welcome to our blog! Here, we'll keep you updated on everything you need to know about the real estate market in the Upper Valley. We keep our finger on the pulse of the local real estate market from our office in Enfield, NH. 

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3 Critical Tips To Improve Your Credit Score And Mortgage Terms

Posted: 05 Jun 2013 05:52 AM PDT 3 Critical Tips To Improve Your Credit Score And Mortgage TermsWhen you are looking for a mortgage for your home, your credit score is very important. Any potential lender will check your score and will use the number to assess your creditworthiness and the interest rate that they offer you. The better your credit score the lower the mortgage interest rates will be available to you, as the lender will be able to see that you can handle credit well. However, if you have a very bad credit score, it could be causing you to be offered high interest rates on your mortgage that could cost you thousands over the years. Improving your credit score before searching for a mortgage will ensure that you get the best rate possible. But what can you do to improve your credit score? Here are three tips that can help you improve your credit score and your mortgage loan: Be Patient Remember that improving your bad credit will be a little bit like losing weight. You might not see results right away but it is the long term benefit of your good habits that will make all the difference. When it comes to all of the ways to improve your credit score, there are no quick-fixes and the best way to rebuild your credit is to be responsible over time. Check Your Credit Report For Errors If you dont know precisely what your credit score currently is, the first step will be for you to obtain a credit report. You can request a free copy of your credit report and check it over carefully for errors. There might be an error on the report that is making your score appear worse than it should be. Set Up Payment Reminders If you have trouble remembering to make your credit payments by the due date, this can be one of the biggest negative factors bringing down your score. You can ask your bank to set up convenient reminders through the online banking portals so that you will receive an email or a text whenever your payments are due. Your credit score is very important when looking for a New England home mortgage, as it will mean that you receive much better program options and interest rates. Keep these tips in mind so that you can enjoy the best rates possible on your mortgage. For more tips on how to improve your prospects for the best mortgage, feel free to contact your local, trusted mortgage professional. via The Market Street Settlement Group Blog

Rising Mortgage Rates May Spark Buying Frenzy | Realtor Magazine

Rising Mortgage Rates May Spark Buying Frenzy Daily Real Estate News | Thursday, May 30, 2013 Rising mortgage rates are prompting some renters to jump off the fence and consider buying a home, so they dont miss out. Mortgage rates have seen a sharp rise in recent weeks. Mortgage applications for home purchases have risen 3 percent and are up 14 percent over year-ago levels, according to the Mortgage Bankers Association. Fed Chairman Ben Bernanke recently suggested that the Feds efforts to keep mortgage rates at record lows may be nearing an end soon. "It's amazing to see the frenzied pick-up in home buying, as renters get nervous that both home prices and rates will rise quickly," Craig Strent, CEO of Maryland-based Apex Home Loans, told CNBC. "They are trying to catch the beginning of the curve here." The 30-year fixed-rate mortgage -- the most popular among home buyers -- recently ticked up to 3.90 percent, the highest level in a year. Coupled with rising mortgage rates, home prices have been on the rise too. Every 1 percentage point that mortgage rates rise reduces the average home shoppers maximum purchase price by 11 percent, according to Dan Green, a loan officer with Waterstone Mortgage in Cincinnati. Still, mortgage rates are low by historical standards, and remain below the 4 percent historical low threshold. The 30-year fixed-rate mortgage reached a record low in December last year -- averaging 3.47 percent. via Rising Mortgage Rates May Spark Buying Frenzy | Realtor Magazine.


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