Aloha & Good Morning!
Today's forecast for Maui will be mostly sunny
with highs near 87 degrees!
Mortgage rates have been up and down a lot lately. So much so that when you are starting out this process it can feel like you are getting onto a mortgage roller coaster that not only goes up and down but can send you through some serious loopy-loops. Never fear though because as your trusted real estate agent I am here to help get you through.
The first step is to get pre-qualified for a loan. Getting to this important first step can take some time and you should prepare yourself and your finances so that you are in the best possible situation when you apply for the pre-approval. I have referrals for lenders on Maui that I am happy to share with you. There is also a buyer specific area on the Real Estate Sales Maui website where you can find articles related to the buying process. Below are a couple of recent articles to get you started.
Improve
Your Chances of Obtaining A Home Mortgage - Securing financing to purchase a new home is one of the most
important, exciting, and nerve-wracking financial steps most people will ever
take.
Choosing A Mortgage: Understanding These 7 - Factors - Deciding what type of home loan is best for your needs might be the most trying part of the home-buying process. Your decision involves seven components.
Keeping an eye on mortgage rates, trends and the general news on the financial markets is a good idea but try not to stress out about daily news. The big picture information can be a little easier to digest. Here are the current mortgage rates as stated on the Mortgage News Daily website.
I really like the graphic on Mortgage News Daily that I've linked below. The graph shows you the average 30-year fixed mortgage rates from 1977 - present. At the top of the graph you can specify a time period to look at. Below I've capture the time over the last 5 years.
Next week there will be a break in
the newsletter. We will see you again on November 20th with a new
newsletter and the October Sales Statistics for Maui County from the
Realtor's Association of Maui. Have a wonderful week everyone!
Don't forget to get your name in for this
year's exciting iPad giveaway!
New listings have been added to the Windermere Valley Isle Properties YouTube Channel. If you want to keep up-to-date with the newest listings you can follow them by clicking HERE!
Looking for more great articles, videos and advice? Check out the Real Estate Sales Maui Team on FACEBOOK, TWITTER, BLOGGER and PINTEREST
Lender Corner by Craig Haueisen
Last
Week In The News
The Standard & Poor's/Case-Shiller 20-city housing price index — on a
non-seasonally adjusted basis — rose 1.3% in August after a 1.8% increase in
July. On a year-over-year basis, when compared with August 2012, prices rose
12.8%.
The Mortgage Bankers Association said its seasonally adjusted composite
index of mortgage applications for the week ending October 25 rose 6.4%.
Purchase volume rose 2%. Refinancing applications increased 9%.
Pending home sales, a forward-looking indicator based on signed contracts,
fell 5.6% in September. On a year-over-year basis, pending home sales were 1.2%
lower than September 2012.
Industrial production at the nation's factories, mines and utilities rose
0.6% in September, following a 0.4% increase in August. Compared to September
2012, industrial production has increased 3.2%. Capacity utilization rose to
78.3% in September from 77.9% in August.
Retail sales fell 0.1% to $425.9 billion in September. This follows a 0.2%
increase in August. Compared to September 2012, retail sales have increased
3.2%.
Total business sales increased 0.3% to $1.297 trillion in August, up 4.2%
from a year ago. Total business inventories also rose 0.3% to $1.668 trillion
in August, up 3.1% from a year ago. The total business inventories/sales ratio
in August was 1.29.
Consumer prices rose 0.2% in September, following a 0.1% increase in August.
Compared to September 2012, consumer prices have risen 1.2%. Consumer prices at
the core rate — excluding volatile food and energy prices — were up 0.1% in
September.
Manufacturing activity rose to 56.4 in October after a reading of 56.2 in
September. A reading above 50 signals expansion. It was the fifth consecutive
month of expansion and the strongest reading since April 2011.
Initial claims for unemployment benefits for the week ending October 26 fell
by 10,000 to 340,000. Continuing claims for the week ending October 19 rose by
31,000 to 2.881 million. The less volatile four-week average of claims for
unemployment benefits was 356,250.
Upcoming on the economic calendar are reports on factory orders on November
4 and gross domestic product on November 7.
Craig Haueisen is a Loan Officer with Prospect Mortgage.
Please feel free to email him or call him for any of your Mortgage needs.
Office: 808-298-7549 or Email: craig.haueisen@prospectmtg.com
Click here to visit Craig's website and apply
online: http://myprospectmortgage.com/CHaueisen
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