Real Estate Information Archive


Displaying blog entries 1-10 of 31

Mortgage Information

by Desi Sowers

Are you thinking of buying your first home?  Elizabeth Banks walks us through some important questions you need to think about when considering purchasing your first home.

What If I Wait Until Next Year To Buy A Home?

by Desi Sowers

As a seller, you will be most concerned about ‘short term price’ – where home values are headed over the next six months. As either a first-time or repeat buyer, you must not be concerned only about price but also about the ‘long term cost’ of the home.

Let us explain.

There are many factors that influence the ‘cost’ of a home. Two of the major ones are the home’s appreciation over time, and the interest rate at which a buyer can borrow the funds necessary to purchase their home. The rate at which these two factors can change is often referred to as “The Cost of Waiting”.

What will happen over the next 12 months?

According to CoreLogic’s latest Home Price Index, prices are expected to rise by 5.5% by this time next year.

Additionally, Freddie Mac’s most recent Economic Commentary & Projections Table predicts that the 30-year fixed mortgage rate will appreciate to 4.5% in that same time.

What Does This Mean to a Buyer?

Here is a simple demonstration of what impact these projected changes would have on the mortgage payment of a home selling for approximately $250,000 today:

What If I Wait Until Next Year To Buy A Home? | Keeping Current Matters

by The KCM Crew on March 14, 2016

Improve Your Credit Score Before Applying for a Mortgage Loan

by Desi Sowers


Improve Your Credit Score Before You Buy A Home



Typically the higher your mortgage score, the better your interest rate and financing terms. Before you buy a home, raise your score with these tips!  You will be holding the keys to your new home in no time.

Mortgage Rates Drop AGAIN

by Desi Sowers


Mortgage rates eased for a second week in a row on mixed economic news, but could be poised for a rebound after the European Central Bank announced a new round of bond purchases today that undermined prices of U.S. Treasurys, pushing up yields.

Rates on 30-year fixed-rate mortgages averaged 3.55 percent with an average 0.7 point for the week ending Sept. 6, down from 3.59 percent last week and 4.12 percent a year ago, Freddie Mac said in releasing the results of its Primary Mortgage Market Survey. Rates on 30-year fixed-rate mortgages hit an all-time low in Freddie Mac records dating to 1971 of 3.49 percent during the week ending July 26.

For 15-year fixed-rate mortgages, rates averaged 2.86 percent with an average 0.6 point, unchanged from last week but down from 3.33 percent a year ago. Rates on 15-year fixed-rate mortgages hit a low in records dating to 1991 of 2.8 percent during the week ending July 26.

Rates on five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans averaged 2.75 percent with an average 0.7 point, down from 2.78 percent last week and 2.96 percent a year ago. Rates on five-year ARM loans hit a low in records dating to 2005 of 2.74 percent during the week ending July 26.

For one-year Treasury-indexed ARMs, rates averaged 2.61 percent with an average 0.4 point, down from 2.63 percent last week and 2.84 percent a year ago. That's a new all-time low in records dating to 1984.



New Virginia Real Estate Law for Consumers

by Desi Sowers



Every Thing Is Changing in Real Estate! 
 New Virginia Law Affects Every Seller and Buyer Beginning Now


Are you thinking of buying or selling a home soon?  Effective this month, new laws require a signed disclosure agreement  before a real estate agent can help you.


You should read this article before you call for information on a new home.


Keeping you informed so that you can make the right decision is my job.

Tax Savings for Homeowners You Probably Don’t Know About

by Desi Sowers

Tax Savings for Homeowners You Probably Don’t Know About

You know me… I love to help you save money!  This tax season you should know about a PMI deduction that may help you save tax dollars.  If you are a homeowner, who did not have an 80% down payment, your mortgage company required you to purchase Private Mortgage Insurance or PMI. This insurance protects the mortgage company’s interest in your home. The catch is that the mortgage company asks the homeowner to pay the cost of insurance. If you refinanced or bought a home between 2007 and 2011, then you may have a valuable tax deduction that you are not taking! 

The National Association of Realtors® sponsors a fabulous consumer website for homeowners at To view this article “How to Get Your PMI Tax Deduction” by Richard Koreto, go to

If you bought a home recently, you probably qualify for this additional tax deduction. Please let me know if I have helped you save big bucks!


Encouraging News about the Real Estate Market

by Desi Sowers


Encouraging News about the Real Estate Market



It is about time!  Finally, I am seeing numerous, positive posts about the real estate market!  This is B-I-G news!  December 2011 sales were up nationwide!  I can personally vouch for January 2012 sales in the New River Valley market too.  The outlook is much brighter. Our market is improving and interest rates are unbelievable. How does 3.25% for a 15 year mortgage sound?  Yes, I am pinching myself to see if it is a dream… “ouch!” I can tell you that it is not a dream. Lower than ever mortgage rates are here.  

Click here for a copy of the Virginia Association of Realtors® Fourth Quarter Sales Report

I am happy to quote the President of VAR, Trish Szego below:

“We are encouraged by the overall numbers shown in the fourth quarter. The pace of home sales is picking up and without artificial stimulus proving that people are taking advantage of low interest rates and low home prices. This upcoming year is an optimistic one for real estate; one in which we hope to see stronger signs of recovery and stabilization,”

Are you trying to make a decision about buying or selling real estate this year?  Let me provide you with real estate sales statistics that help you make the best decision for you and your family.  


It's Time to Fall Back!

by Desi Sowers

Crazy Low Mortgage Rates!!

by Desi Sowers


Mortgage Rates Dip, Reaching Another Record Low


For the second time in a month, fixed and adjustable-rate mortgage rates set new record lows this week, Freddie Mac reports in its weekly mortgage market survey. The previous record lows were set Aug. 18. 

Economic uncertainty and employment concerns are continuing to keep rates low, says Frank Nothaft, Freddie Mac’s chief economist.

Here’s a closer look at rates for the week ending Sept. 8. 

  • 30-year fixed-rate mortgages: averaged 4.12 this week, down from last week’s 4.22 percent. The 30-year rates’ previous low was 4.15 percent, set on Aug. 18. 
  • 15-year fixed-rate mortgages: averaged 3.33 percent this week, down from last week’s 3.39 percent average. Its previous record low was 3.36 percent.
  • 5-year adjustable-rate mortgages: averaged 2.96 percent, holding steady at the same record low it set last week. 
  • 1-year ARMs: averaged 2.84 percent this week, down from last week’s 2.89 percent average. Its previous record low was 2.86 percent.

Despite the low rates, mortgage application volume remains low, dropping for the third straight week, the Mortgage Bankers Association reported this week. The volume of mortgage applications for purchase remained relatively flat this week at “extremely low levels, close to lows last seen in 1996,” says Mike Fratantoni, MBA’s vice president of Research and Economics. Refinance application volume was also down, dropping more than 35 percent below levels last year at this time. 



Mortgage Rates Drop Sharply for the Week

by Desi Sowers

Mortgage rates dropped sharply last week, possibly improving the purchasing power of many home buyers.

The 30-year fixed-rate mortgage, the most popular choice among buyers, averaged 4.39 percent this week, its lowest average for 2011, Freddie Mac reported in its weekly mortgage market survey. The 15-year fixed-rate mortgage and the 5-year adjustable rate-mortgage also both reached new historical record lows.

Rates mostly dropped across the board amid signs of a weakening economy, Freddie Mac says. "Treasury bond yields fell markedly after signs the economy was weaker than what markets had previously thought allowing fixed mortgage rates to follow this week with the 15-year fixed and 5-year ARM setting new historical lows,” says Frank Nothaft, chief economist at Freddie Mac.

Nothaft also noted some improvement in the housing market, however. "There were indications that the housing market is firming,” he says. 

Here’s a closer look at rates for the week ending Aug. 4:

30-year fixed-rate mortgages: averaged 4.39 percent, down from last week’s 4.55 percent average. A year ago at this time, 30-year rates averaged 4.49 percent.

15-year fixed-rate mortgages: averaged 3.54 percent, dropping from last week’s 3.66 percent average.Last year at this time, 15-year rates averaged 3.95 percent.

5-year adjustable-rate mortgages: averaged 3.18 percent this week, falling from last week’s 3.25 percent average. Last year at this time, 5-year ARMs averaged 3.63 percent.

1-year adjustable-rate mortgages: were the only ones on the rise last week, averaging 3.02 percent this week, which is up from last week’s 2.95 percent average. Last year at the time, 1-year ARMs averaged 3.55 percent.

I'm happy to put you in touch was a local mortgage lender if you would like to discuss interest rates and how they will effect your buying power.

Displaying blog entries 1-10 of 31




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