MORTGAGE PRICING SET TO GET WORSE
ECONOMIC UPDATE Your Guide to the Housing & Mortgage Markets 1 WHAT'S GOING ON IN THE ECONOMY THIS WEEK AND WHY DOES IT MATTER? Mortgage pricing is set to get worse as global stocks kick off the week with a rebound. The US financial markets re-open Tuesday after...
Bidding Wars Decline ,But Remain Strong, During This Summer’s Home Buying Season
WHAT'S GOING ON IN THE HOUSING MARKET RIGHT NOW? Bidding wars declined in recent months from a high 71% of offers down to 61% of offers, according to Redfin data. Meanwhile, mortgage rates have jumped by over 2% so far this year according to Freddie Mac data, and it's...
No Income Mortgage in South Florida
Hi, Brandon Carrero here. And thank you for watching my latest version of Did, you know? Did you know, that you can buy with a no-income mortgage on your primary, second home, and investment property? Our mortgage products are amazing and we're the home of the...
Be Hurricane Ready
High-impact wind and floods can wreak havoc our lives, here at Carrero Mortgage, located in Miramar, we’re in South Florida and often close to the action, hurricanes have “visit” us many times throughout the years, and we want you to have this useful list to help you with your preparations
Housing Supply
In a “normal” housing market, we need to build approx. 1.5 million new housing units per year in the US in order to replace the obsolete housing units and account for normal population growth.
Buyers or Sellers Market?
Housing inventory measures how many months it would take to sell all the houses currently listed for sale, at the current pace of home sales. For example, if there are 300 homes currently listed for sale, and an average of 100 homes are selling each month, there would be a 3-month housing supply.
Market Update – Loan Limits
Home loans that conform to the Fannie Mae and Freddie Mac guidelines tend to have better terms than non-conforming loans. That’s why it’s good news that the Federal Housing Finance Agency (FHFA) recently announced that the conforming loan limits have increased to $647,200 for 2022.
Florida Hometown Heroes Housing Program laucnhed by Governor DeSantis
CAPE CORAL, Fla. — Today, Governor Ron DeSantis announced the June 1 launch of the Florida Hometown Heroes Housing Program to help Floridians in over 50 critical professions purchase their first home. The Hometown Heroes Housing Program will be available to Floridians...
When Can I Cancel PMI – Calculator
SEE MORTGAGE RATES IN THE UNITED STATES FOR THE LAST 50 YEARS
Mortgage Rates Over the Years While mortgage rates have risen over the past several months, they remain at historic lows. Data from the housing finance agency Freddie Mac beginning in 1971 shows that the average annual 30-year fixed mortgage rate peaked at 16.63% in...
Brandon Carrero Appears in the Top 100 People in Real Estate Magazine
Brandon Carrero Shelter. It’s one of the fundamental needs of every human being. Beyond that visceral need, however, we long for a place to call “home.” Unfortunately, with each passing year, housing seems to become more and more unaffordable. Even for those who can...
Buy an Old or a New House?
When choosing between an existing home and a newly constructed home, it’s important to look past the sales price to the actual monthly cost of owning your home. Newly constructed homes are likely to bring lower energy bills and require less maintenance, which could...
Check Your Affordability
When Interest Rates Rise
What Factors Influence Your Credit Score
It is Still a Great Time To Purchase a Home
Real Estate Appreciation Data by State
What Will My Payment be?
Want to know how much your home payment will be, use this handy calculator, click here to get started
Carrero Mortgage Advisors Made a Donation to Schott Communities
A donation of $1000 was made to Schott Communities, a private, non-profit organization founded in 1986 to address the needs of persons who are deaf or who are physically or intellectually challenged in South Florida. Schott Communities develops residential housing for...
Getting a Loan for Rental Property: The Requirements
Are you looking to obtain a loan for a rental property? Purchasing a rental property means considerable potential for the return on your initial investment. Many people across the county have used property investments to boost their monthly income and grow their...
Hybrid ARMs (3/1 ARM, 5/1 ARM 7/1 ARM 10/1 ARM)
Hybrid ARM mortgages, also called fixed-period ARMs, combine features of both fixed-rate and adjustable-rate mortgages. A hybrid loan starts out with an interest rate that is fixed for a period of years (usually 3, 5, 7 or 10). Then, the loan converts to an ARM for a set number of years. An example would be a 30-year hybrid with a fixed rate for seven years and an adjustable rate for 23 years.
Carrero Mortgage Advisors, LLC NMLS# 1734670 is an Equal Housing Opportunity Lender. All rights reserved. Nationwide Mortgage Licensing System (NMLS) Consumer Access Web Site: www.nmlsconsumeraccess.org.
Figure: 7 TAC 80.200(b)
“ANY CONSUMER WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT-OF-POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.“
