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Take the First Step!

Within our daily lives, we are always busy and filling our time with different items that we need to cross off on our to do list.  However, estate planning never seems to be on that list as there are many other urgent matters to attend too.  Why is this?  Estate planning is something most people do not want to think about.  Estate planning is not in the here and now, instead it’s about planning for the future – both what you can and cannot predict.  The estate planning process encourages and challenges individuals and couples to answer questions they are not typically thinking about on a daily basis.  When sitting down with an attorney, they will be able to help you through this process and answer these questions.  They will not be able to answer the questions for you as it is your life and you have to make the decisions.  The attorney will be able to provide you will tools and guidance to make this process as simple and seamless as it can be.  If you start this process now, you are taking a large step in securing your future.


Consumer Alert: Ways to Help Speed the New Mortgage Process

The new “Know Before You Owe” or TILA RESPA Integrated Disclosure (TRID) rule from the Consumer Financial Protection Bureau (CFPB) starts October 3, 2015. The rule not only requires new mortgage disclosure forms, it also changes the way real estate transactions are processed and closed. By understanding what is expected from you, you can help speed the process.

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Mortgage Rates Dip Below 4% Again

For the third consecutive week, averaged fixed mortgage rates edged down as uncertainty about the economy continued to push Treasury yields lower, Freddie Mac reports in its weekly mortgage market survey. The 30-year fixed-rate mortgage dropped 7 basis points this week to 3.91 percent, its lowest average since June 4.

“All eyes are on the upcoming July employment report, as the Fed has made it clear developments in the labor market will affect the timing of any potential rate hike,” says Sean Becketti, Freddie Mac’s chief economist.
 

Freddie Mac reports the following national averages with mortgage rates for the week ending Aug. 6:
 
30-year fixed-rate mortgages: averaged 3.91 percent, with an average 0.6 point, dropping from last week’s 3.98 percent average. A year ago, 30-year rates averaged 4.14 percent.

15-year fixed-rate mortgages: averaged 3.13 percent, with an average 0.6 point, dropping from last week’s 3.17 percent average. A year ago, 15-year rates averaged 3.27 percent.

5-year hybrid adjustable-rate mortgages: averaged 2.95 percent, with an average 0.4 point, holding the same average as last week. Last year at this time, 5-year ARMs averaged 3.27 percent.

1-year ARMs: averaged 2.54 percent, with an average 0.3 point, rising from last week’s 2.52 percent average. A year ago, 1-year ARMs averaged 2.98 percent.


Source: Freddie Mac