Weekly Mortgage Rates!

Weekly Mortgage Rate Update

Mortgage rates continue to trend downward, which is good for home buyers and sellers today. It's hard to say if the recent dip in rates will continue. I will keep you informed along the way!

Here are latest mortgage rates:

Conventional

30 year fixed = 4.625%

20 year fixed = 4.50%

15 year fixed = 4.25%

FHA/VA 

15 year fixed = 4.50%

30 year fixed = 4.625%

Jumbo (loan amounts over $484,350)

30 year fixed = 4.50%

15 year fixed = 4.25%

5 year ARM = 3.75%

7 year ARM = 3.875%

** Above rates considering 780+credit score, 25% down payment, owner occupied, 30 day rate lock, $250,001 minimum loan amount, purchase & escrows. Rates can change at any time without notice..

Please let me know if you have any mortgage related questions or have clients in need of a Mortgage Pre-Approval. Thanks for your support! 

Sincerely,

Scott

 

Scott Jacobsen

Vice President of Residential Lending

Cell # (630) 673-3103

E-fax # (312) 592-2232

Email: Scott.Jacobsen@KeyMortgageServices.com

Website: www.KeyMortgageServices.com/ScottJacobsen

NMLS # 664645

Key Mortgage Services

475 N. Martingale Rd. Suite #100

Schaumburg, IL 60173

Fight Fraud with Freebies!

Here are some no-cost or cheap ways to stay ahead of growing scam threats:

Credit and Identity monitoring

Paid monitoring tracks your file at one or more credit reporting bureaus, but you can also do this for free. At AnnualCreditReport.com, review your  Equifax, Experian and TransUnion files each year, ideally with a different bureau every four months. Websites such as CreditSesame.com and CreditKarma.com (which also provides free ID monitoring) track credit bureau data. To protect existing accounts, most banks and credit card providers offer free alerts of suspicious activity. Experian offers a no-cost dark-web scan, but expect an onslaught of pitches for financial products, including more extensive scans for a fee.

Credit Freezes

Thanks to a law passed by Congress earlier this year, credit freezes are now free to everyone --- not just those who are over 65 or are past victims of identity theft. A credit freeze restricts access to your credit report unless you expressly allow it to be shared. Without it, identity thieves can't open new accounts in your name. In order to enact, lift, or temporarily "thaw" freezes when applying for credit, seeking a new job, or switching utility providers or insurance companies, you need to contact each of the three major credit bureaus: Equifax, Experian, and TransUnion.

Call-Blocking Apps

There are apps that will identify and block calls from robocallers, telemarketers and suspected scammers. Enhanced versions are about $3 a month, but True-caller, Hiya, and Call Control offer free apps for smartphones. AT&T and T-Moblie customers can get free "basic" protection, while Nomorobo is available at no charge for VoIP (Voice over Internet Protocol) landlines.

Tax Transcripts

To keep tabs on possible tax refund fraud, request IRS transcripts each year after you get a refund or the IRS cashes your check for underpaid taxes. To view and print your transcripts online, go to IRS.gov and use the Get Transcript tool. You can see the past three returns. Or askfor them by phone at 800-908-9946. This free service summarizes the agency's records of your tax returns and post-filing adjustments. Unrecognized filings may indicate your personal info was used for tax-related ID theft.

5 Bathroom Trends to Consider- And 2 to Avoid

Renovating a bathroom? Here are some design trends making headlines:

1) Besides neutrals, blue is the most popular color for bathroom vanities right now. Blues ranging from bright and saturated to almost gray. Blue sinks are less mainstream, but they're quite stunning.

2) Going with dark touches gives a bathroom a sophisticate edge. Black is being used more in patterned tiles for flooring. Black is typiclally the imprint for design with a white or light gray backdrop.

3) Patterned flooring is so appealing because the look is anything but ordinary and reminds us of something from the past, which gives it a sense of familiarity. The most popular floor designs today are classics- chevron, herringbone, and hexagon.

4) Free-standing tubs come in many different materials (cast iron, acrylic), shapes (oval, asymmetrical), and colors (gray, black) for a fresh, modern look.

5) Installing a large shower can be a wonderful trade off, especially with an amazing spalike multi-shower head system. But, potential buyers may not appreciate the value and only see that the home is lacking a bath tub. An especially risky move if future buyers may be parents with smaller children- for them, no tub to bathe their kids in may be a deal breaker.

Happy Holidays!

Money Saving Tips- Part Eight

1) Use a prepaid smartphone plan. 

These let you pay upfront and don't charge you when ot using the phone. If you don't regularly browse the web on your smartphone, prepaid plans save money. A nonprepaid plan can cost $55 per month. Prepaid plans can go for $35. Monthly savings: $20 

2) Grab free mulch

Many towns make massive amounts of mulch and offer it free to residents. For a large garden bed, you might have to buy five 2-cubic-foot bags of mulch; getting it free saves $18.50.

3) Go to the minors.

With a Major Leagure Baseball ticket averaging $30, you can save about $20 per ticket by attending a minor league game.

4) Change your car's air filter.

The job takes about five minutes and will save you at least $19 in labor.

5) Ladies, take advantage of petite feet. 

Fashionable girls' shoes, sandals and sneakers are a fraction of the cost of adult shoes. CHuck Taylors Converse for girls: $34.99; women's to fit the same foot: $49.99. Cha-ching! Your little feet save $15.

Money Saving Tips- Part Seven

1) Keep your tires inflated.

For every 5 psi of air pressure below normal, you lose 2 percent on gas milage. For a typical car, underinflated tires can waste roughlya gallon of gas each month (around $2.50)- plus you'll have extra wear on your tires.

2) Don't buy salon hair products for everyday usage

A brand-name conditioner is $23.94 online for 8.45 ounces. But, a store-brand conditionder found at a national chain works well too, at $3.42 for 10.2 fluid ounces. Savings: $2.49 per ounce.

3) Get reimbursed for ATM fees.

Most online banks and some traditional banks will reimburse you for fees incurred when you use another bank's ATM. But, you have to ask. That's an average of $4.57 per transaction.

4) Quit drinking soda.

Knock off a couple of two-liter bottles from your weekly shopping trip and drink water instead. You'll save roughly $120 each year.

5) Have a happy meal

Many bars and eateries offer discounts on appetizers during happy hour. For example, at a Del Frisco's Grille restaurant between 4-6p.m. on weekdays, cheesesteak eggrolls are $6 (normally $12.50). Share three such plates with a friend and save $19.50.

Weekly Mortgage Rate Update

Did you know?

1.) Jumbo borrowers don't need a 20% down payment!!

> Borrowers can obtain a Jumbo loan up to $650,000 with as little as a 5% down payment.

> A borrower could also obtain a Jumbo loan up to $850,000 with as little as 10% down payment.

2.) A borrower could purchase a 2-4 flat with as little as a 5% down payment with a Conventional loan.

> Income restrictions apply, and must be owner occupied

Weekly Mortgage Rate Update

Mortgage rates remain at the lowest in the last 100 days. Economists are predicting the Fed to relax on rate hikes in the short term, but we shall see what actually happens.

Here are latest mortgage rates:

Conventional

30 year fixed = 4.75%

20 year fixed = 4.625%

15 year fixed = 4.375%

FHA/VA 

15 year fixed = 4.50%

30 year fixed = 4.75%

Jumbo (loan amounts over $484,350)

30 year fixed = 4.625%

15 year fixed = 4.375%

5 year ARM = 4.00%

7 year ARM = 4.125%

** Above rates considering 780+credit score, 25% down payment, owner occupied, 30 day rate lock, $250,001 minimum loan amount, purchase & escrows. Rates can change at any time without notice..

For more information, contact Scott!

 

Scott Jacobsen

Vice President of Residential Lending

Cell # (630) 673-3103

E-fax # (312) 592-2232

Email: Scott.Jacobsen@KeyMortgageServices.com

Website: www.KeyMortgageServices.com/ScottJacobsen

NMLS # 664645

Key Mortgage Services

475 N. Martingale Rd. Suite #100

Schaumburg, IL 60173