Bob and his team were great. They helped us through the loan process and made it quite painless.Christopher Watson
Robert began his career in the Arizona real estate industry in 1987, and since 1997 he has been a full time Mortgage Loan Officer. He has assisted hundreds of families with their mortgage loans and has a long list of satisfied customers and referral partners who can attest to his professionalism, honesty and integrity. According to Robert, "Many families come to me frustrated by or wary of the mortgage process due to their past experiences or by things that they have heard from friends and family." My advice to everyone seeking a mortgage these days is the same; relax! You are in good hands with Academy Mortgage.
Call Bob on his mobile phone or email him 24/7. He's well known for answering calls and emails at all hours. His staff at Academy Mortgage is a virtual all-star team comprised of the top loan processors and underwriters in the industry. The entire Wasieko Team prides itself on fast response times, accurate information and exceeding your expectations.
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Construction and remodeling activity contribute to builders' optimism
An increasing number of first-time homebuyers may be responsible for the optimism many home builders feel in regard to construction and remodeling activity. On Oct. 21, the National Association of Home Builders held the Fall Construction Forecast Webinar. Builderonline.com relayed that economists forecast an impressive increase in the construction of single-family homes over the course of the next two years.
Construction expected to increase. The median price for a house has increased due to the rising demand for homes. As the economy and job situation improves, more individuals feel comfortable applying for a U.S. home mortgage and investing their money in real estate.
To accommodate today's buyers, more construction is expected in the coming years. Robert Denk, a senior economist at the NAHB, predicted home starts would move past one million in 2016 and further increase to 1.2 million in 2017.
"It's about population and job growth," Denk said. "We're really in a very different place than we were in the early rounds of the recovery."
Remodeling market index demonstrates improvement. Construction isn't the only industry improving. According to the NAHB's Remodeling Market Index, the third quarter marks the 10th straight quarter above 50, the break-even point. The reading settled at 57 during the third quarter.
"An RMI above 50 indicates that remodelers still feel positive about the market on balance," said NAHB Chief Economist David Crowe.
The continual positivity industry professionals feel toward the market is good for overall recovery.
"The sustained confidence of remodelers shows that the remodeling market is gradually strengthening in what has been a longer than anticipated recovery," said Robert Criner, the National Association of Home Builders Remodelers vice chairman. "Smaller jobs remain more popular, but overall remodelers feel positive about the future of the industry."
Again, improving economic and employment conditions are better supporting consumers and allowing them to invest in renovations and improvement projects in their homes. In addition, those who want to sell property may feel remodeling will help attract a higher number of interested buyers.
Academy Mortgage is one of the top independent purchase lenders in the country as ranked in the 2014 CoreLogic Marketrac Report. Contact me to find a loan, get a rate, or calculate your payment today.
Refinance activity increases for the week ending Jan. 15
Amidst favorable interest rates for U.S. home mortgages, many individuals are refinancing their current home loan to take advantage of historically low rates. According to the Mortgage Bankers Association's weekly survey of home loan applications, the share of refinance activity rose to 59.1% the week ending Jan. 15. In addition, the Refinance Index shot up 19% when compared on a week-over-week basis.
Applications for refinancing and traditional mortgages rise. The survey showed that all mortgage applications increased 9% from the previous week. Not only did refinance activity's share of mortgage applications rise, but the adjustable-rate mortgage share of activity rose to account for 6%.
This jump was likely due to the lower rates available for U.S home mortgages. With the average interest rate for 30-year and 15-year fixed-rate mortgages dipping to the lowest levels since October 2015, it comes as no surprise that homeowners are deciding to refinance their home loans to secure lower rates while they last.
While there was an increase in overall mortgage application activity, some types of loans made up a smaller fraction of all applications. The share of loans backed by the Federal Housing Administration, U.S Department of Veterans Affairs and the U.S. Department of Agriculture all decreased slightly.
"Depending where in the year your reset falls, that will dictate the increase you're seeing," said Greg McBride, Bankrate's chief financial analyst, to USA Today. "But it's going to be an increase because those interest rates have come off the bottom."
McBride went on to say that this means refinancing is an especially good idea for current homeowners. This line of thinking may be precisely why there was such a notable uptick in refinance activity, according to the MBA's Refinance Index, for the week ending Jan. 15.
In addition, the improving economy and rising average income among consumers means more interested homebuyers can continue to enter the housing market. An influx in activity will contribute to a stronger real estate market in 2016 and beyond.
Academy Mortgage is one of the top independent purchase lenders in the country as ranked in the 2014 CoreLogic Marketrac Report.. Contact me to find a loan, get a rate, or calculate a payment today.
The weather that is characteristic of the coldest months of the year often suppresses housing activity across the country. This is often also reflected in home builders' confidence in the industry, so it is no surprise that February's survey showed confidence among builders declined three points, according to the National Association of Home Builders.
Home builder confidence ticks down slightly. When it comes to the market for newly built single-family homes, the NAHB/Wells Fargo Housing Market Index showed builder confidence settled to a rating of 58 in February compared with 61 the previous month.
However, while low temperatures and winter weather may bear some responsibility, the lack of available labor, lots and high building costs are likely equally responsible for the fall.
"Though builders report the dip in confidence this month is partly attributable to the high cost and lack of availability of lots and labor, they are still positive about the housing market," said NAHB Chairman Ed Brady. "Of note, they expressed optimism that sales will pick up in the coming months."
With the approach of spring, consumers will likely become more interested in purchasing homes and the demand will bolster the market for more newly built single-family homes. In addition, even with the slight decline, the results from the Index still show that more builders view the current conditions as good instead of poor.
"Builders are reflecting consumers' concerns about recent negative economic trends," said NAHB Chief Economist David Crowe. "However, the fundamentals are in place for continued growth of the housing market. Historically low mortgage rates, steady job gains, improved household formations and significant pent up demand all point to a gradual upward trend for housing in the year ahead."
Demand strong moving into the spring season. According to HousingWire, the lack of inventory is agitating many millennial buyers. With competition from foreign investors, young first-time homebuyers have difficulty finding affordable housing.
This drives the need for more homes and will strengthen the market for new construction on single-family homes moving into the spring. Home builders can therefore feel more confident in the possibility there will be a rising demand for homes going forward.
Academy Mortgage is one of the top independent purchase lenders in the country as ranked in the 2014 CoreLogic Marketrac Report. Visit www.academymortgage.com to find a loan, get a rate, or calculate your payment today.