PMR Mortgage Blog
The amount of equity homeowners have is hitting record highs
A new report by CoreLogic found that the amount of equity homeowners have in their homes is at an all-time high. The data company reported that the national share of homes with negative equity fell to just 3.8 percent, and since the second quarter of 2018, 151,000...
A large number of homeowners are currently eligible for a refinance
Low mortgage rates have created a high number of homeowners who are eligible for refinancing, according to a recent report by Black Knight. The report, which used comparison data from as far back as 2000, found that approximately half of all homeowners are currently...
New home purchase applications on the rise thanks to low rates
New data released by the Mortgage Bankers Association (MBA)'s monthly Builder Application Survey indicates that new home purchase applications are up by 11 percent month-over-month. The survey also found that the average loan size decreased, possibly due to a large...
Home prices continue to slow for 14th month in a row
For the 14th month in a row, the rate at which homes prices are increasing has slowed down. In May, prices saw just a 3.4 percent annual increase according to the S&P CoreLogic Case-Shiller National Home Price Index. Nationwide, the top 10 metro areas in the...
The Fed Cut Interest Rates for the First Time Since the 2008 Crisis
The Federal Reserve's decision to cut interest rates 25 basis points for the first time in over a decade marked a dramatic shift in monetary policy. For consumers, the cut could mean a reprieve in escalating borrowing costs, which can impact your mortgage, home equity loan, credit card, student loan tab, and car payment.
Rents skyrocket across the United States
Did you hear the news? Across major cities in the United States, rent has increased yet again, according to a new report from RentCafe. The annual report found that the average rent in the U.S. has increased by 3.2 percent year over year and by 2.6 percent since the...
Advantages of Using a Local Lender vs Online
Borrowers have more options than ever when it comes to purchasing a home. Who you choose as your lender is a serious decision that can impact you for years to come. While online lenders offer quick approvals tethered to high interest rates, local lenders like Premier...
Younger home buyers moving to the suburbs
Move aside, big cities. American suburbs are making their way back into the spotlight. Many Americans are ditching the allure and convenience of big, crowded cities and instead opting for the comfort of a quieter life in close-knit communities found in suburban...
Busting two big myths about getting a home loan
Many would-be homebuyers put off buying much longer than they have to because they think their credit score is too low, or they don't have enough money saved for a down payment. But did you know that lower credit scores and a low down payment don't automatically mean...
Home price growth is still slow, making it ideal time to buy
Was homeownership or moving part of the game plan this year, but now you're looking at the calendar wondering how we're already halfway through? Great news! Not only is it not too late to get into a new home in 2019, you might be in an even better position to start...
Three ways to utilize your home equity
If you're like most people who own their own home, you could use a little extra financial cushion. As a homeowner, your home equity is likely your most valuable asset. Home equity is, to put in simple terms, the part of your home and property you truly "own." When you...
Simplifying the home-buying process, one transaction at a time
Many homebuyers will put off the home search out of fear and intimidation of the process. There is a lot of misinformation out there and, yes, even some scary stories of home-buying transactions gone awry. At Premier Mortgage Resources (PMR), we're changing that....