Neil Coleman Mortgage Matters

Residential Construction Spending Up Last week’s mortgage and housing-related reports began with Construction Spending for December, with a reading of 0.10 percent or a seasonally adjusted $930.5 billion. December’s reading fell short of an expected increase of 0.40 percent. Spending for private ...

During these incredibly frigid days & nights, you need to take a little extra precaution to insure that your water pipes do not freeze.  Frozen pipes can burst, which can be cause flooding.  This can be extremely expensive to fix, not to mention very messy.   Here’s some easy, anyone can do these...

If the temperature in your home is too hot at night, then you can’t sleep. If it’s too cold during the day, then you have to wear excessive layers. Everyone has his or her own idea of the ideal temperature, but to keep it on that perfect number can get expensive. So, below we’ve outlined five way...

Generally, when you are purchasing a home, you are making a down payment.  So your mortgage amount is less than the appraised value and/or purchase price.  This means you have “instant equity” in your home, which is good. Later on, depending on how much equity you have in your home, you may be co...

So you find yourself with a little bit of extra money – perhaps due to a raise, an inheritance or an unexpected windfall? Should you put all of your money toward paying down the mortgage on your home? Or would you be better off placing your extra cash into a savings account? Deciding whether to p...

Last week brought mixed news; while the Department of Commerce reported a dip in new home sales, mortgage rates also fell. The Federal Reserve’s FOMC statement revealed that quantitative easing would be further reduced by an additional $10 billion monthly. New Home Sales: Y-O-Y Reading Best Since...

According to a statement provided by the Federal Open Market Committee of the Federal Reserve, the committee has approved another reduction of the Fed’s monthly asset purchases. The adjustment will be made in February and cuts monthly purchases of mortgage backed securities from $35 billion to $3...

According to figures released this week, the U.S. Housing Market is on a roll, showing an annual growth of 13.7%. Highlights Include: Chicago area average home prices rose by 11.00 percent, its highest annual gain in almost 25 years!!! Dallas, Texas posted its highest rate of annual growth since ...

With the recent frigid temps in the Midwest, it seems that all I’m writing about recently is how to take care of your water pipes.  My recent blog focused on how to avoid freezing (and then bursting) pipes. Everyone wants their pipes to last as long as possible, but there are a couple of simple p...

        An Appraiser Can Estimate A Home’s Monetary Value, But To Gain A True Concept Of Your Home’s Worth, You Must Also Take Into Consideration: Pride Of Ownership. You don’t buy a pair of Prada shoes because you’re going to be able to resell them and make a profit. You buy them because they ma...