Freddie Mac: Mortgage Rates Continue to Fluctuate

About

When most people tell a story, they often date it by the home they were living in at the time. A home is a lot more than a structure held together by wood and nails. It is a part of the world stage that holds your stories, your memories and your milestones. We get it. In fact, we’ve been helping to create these stories and helping people buy homes, for nearly 20 years.
Choosing a home loan shouldn’t be stressful, or overwhelming. That’s why GSF is dedicated to helping you successfully navigate the mortgage process. With our comprehensive list of home loan options and our well trained experienced staff, you can be sure you are in good hands.
So, whether you are searching for your first home, or your third, GSF Mortgage is here to help select the best mortgage, for you. We call it: “Lending In Your Favor.”

Freddie Mac: Mortgage Rates Continue to Fluctuate
Mortgage rates continue to fluctuate and moved to their highest level this year amid volatility in the bond markets. The 30-year fixed-rate mortgage averaged 4.09 percent this week, up from 4.04 percent last week. One year ago rates averaged 4.13 percent.
The 15-year fixed-rate mortgage also increased and grew to 3.25 percent, up from 3.20 percent last week. Last year the 15-year fixed-rate mortgage averaged 3.23 percent.
Read entire article on
Report Says More Millennials Value Home ownership Over Conveniences
More millennials are valuing home ownership these days and trying hearer to gather the funds to buy a home of their own, as a recent survey conducted by Washington D.C-based business advisory firm the Colling wood Group indicated.
The survey, released Tuesday, showed that 65 percent of people polled between the ages of 24 and 34 were willing to fore go modern conveniences in order to save for a down payment to purchase a home. Those conveniences might include cell phones, internet, cable TV and Starbucks, according to the Collin wood Group’s exclusive survey.
Read entire article on The M Report
 Home ownership: A Key to Well-Being in Retirement
There has been much talk about homeownership and whether it is a true vehicle for building wealth. A new report looks at the impact of owning a home has on the financial wellbeing of people closing in on their retirement years (ages 55-64).

There has been much talk about home ownership and whether it is a true vehicle for building wealth. A new report looks at the impact owning a home has on the financial well being of people closing in on their retirement years (ages 55-64).

In recently released study by the Hamilton Project, Ten Economic Facts about Financial Well-Being in Retirement, it was revealed that:

1. Middle-class households near retirement age have about as much wealth in their homes as they do in their retirement accounts.

“Over the past quarter century the largest single source of wealth for all but the richest households nearing retirement age has been their homes, which accounted for about two-fifths of net worth in the early 1990s and accounts for about one-third today.”

2. Home equity is a very important source of net worth to all but the wealthiest households near retirement age.

“Home equity is an important source of wealth for middle income households, accounting for more than one-third of total net worth for the second, third, and fourth quintiles of the net worth distribution… The fifth quintile has a much larger share in business equity—almost a quarter—than any other quintile. (The figure leaves out the bottom quintile of households because they have negative net worth. It is likely that these households will rely almost exclusively on Social Security in retirement.)”

Here is an asset breakdown for the middle 20% of Americans determined by median net worth ($165, 720):