Friday, December 7, 2018

Financial News Friday

The US Government was out with an updated reading of the economy on Friday, reporting that expansion of the economy continued at a moderate pace, while wage growth slowed. Ten years into the expansion we are still waiting for wages to pick up at an accelerated pace.

Per the Bureau of Labor & Statistics for the month of November:

  • Nonfarm Payrolls +155,000 (Forecast 200,000)
  • Jobless Rate 3.7% (Forecast 3.7%)
  • Avg Hourly Earnings All Private Workers +0.2% (Forecast +0.3%)

What does this mean for mortgage rates? Interest rates have been dropping in the last few weeks as the expectation is for slower economic growth into 2019. The updated numbers above show an economy still growing, but not accelerating into higher gear, enforcing the expectation for slower growth.

In other financial news this week stocks and bonds were whipsawed with developing reports from the US and China in regards to tariff and trade agreements.

Have a good weekend!

Monday, October 8, 2018

How To Prepare Your House For Winter

October may technically still be Fall, but it is the perfect month to start preparing your house for Winter.  Here are some helpful tips to get the ball rolling. You can knock them out in a weekend or tackle them 1 by 1 depending on the weather forecast in your area.

Furnace Inspection
  • Stock up on furnace filters and change them monthly.
  • If your home is heated by a hot-water radiator, bleed the valves by opening them slightly and when water appears, close them.
  • Remove all flammable material from the area around your furnace.
Get The Fireplace Ready
  • If the chimney hasn’t been cleaned for a while, call a chimney sweep to remove soot and creosote.
Check Foundations
  • Seal up entry points to keep small animals from crawling under the house.
  • Rake away all debris and edible vegetation from the foundation.
Check The Exterior, Doors & Windows
  • Inspect exterior for cracks and exposed entry points around pipes, seal them.
  • Use weather-stripping around doors to prevent cold air from entering the home and caulk windows.
Inspect Roof, Gutters & Downspouts
  • Add extra insulation to the attic to prevent warm air from creeping to your roof and causing ice dams. 
  • Replace worn roof shingles or tiles.
  • Clean out the gutters and clear debris from the downspouts.
Service Weather-Specific Equipment
  • Drain gas from the lawnmowers.
  • Service or tune-up snow blowers.
Prevent Plumbing Freezes
  • Locate your water main in the event you need to shut it off in an emergency.
  • Drain all garden hoses, blow out sprinkler systems.
  • Insulate exposed plumbing pipes.
  • Drain air conditioner pipes and, if your AC has a water shut-off valve, turn it off.
  • If you go on vacation, leave the heat on, set to at least 55 degrees.
Install Smoke & Carbon Monoxide Detectors
  • Some cities require a smoke detector in every room.
  • Install a carbon monoxide detector near your furnace and water heater.
  • Test smoke and carbon monoxide detectors to make sure they work.
Winter. Spring. Summer.  Fall. No matter the season,  The Vertex Team is here to help with all of your mortgage needs. Feel free to call us today. 877-939-0339

Monday, October 1, 2018

5 Questions: Is A Cash-Out Refinance Right For You

They say in life that "Timing is everything".  

Knowing what to do in today's market environment can be confusing.  

 Home values have appreciated in most parts of the country and homeowners are sitting on over
 $6,000,000,000,000 in available home equity. The decision to tap into your home's equity is not
 one that should be taken casually and made without careful consideration.That being said, here
 are 5 situations when it may make sense to tap into your increased equity.

Do You Have High Interest Credit Card Debt?

 Interest rates on credit cards are typically much higher that mortgage rates, often by as much
 as 10% or higher. A cash-out refinance can allow you to pay off high interest-rate credit ard 
 debt and still save money every month. 

Are You Dreaming Of A New Kitchen Or Bathroom?

Reinvesting your home equity back into your house by making home upgrades is a win-win. 
Updating your kitchen, remodeling your bathroom or finishing your basement are all things that 
your family will get to enjoy while at the same time can make your house more valuable without
taking out a second mortgage.

Do You Have Enough Saved For A Rainy Day?

Uncertainty is a part of life. Taking some money out of your house and putting it in the bank
for a rainy day is something to consider. Too often, people find themselves out of a job and 
unable to access the cash in their home when they need it most. Taking steps while you are
employed and can qualify for  a new mortgage to set aside some of that equity for a rainy day
might be a smart move for you.

Do You Have A HELOC?

Pay off your existing home equity line of credit (HELOC) with a Cash-Out Refinance . As
interest rates climbs, so too do the rates on HELOCs, by consolidating with your first mortgage
today you fix the rate in for the life of the loan. No more worry about increases in the prime rate.

Are you living the life you want to live?

Is a lack of cash keeping you from finding your passion or purpose in life? Do you dream of 
continuing your education or starting a business? Maybe there's a bucket list family vacation 
you want to take.If you have a need for some cash and have access to equity due to improving 
home values, you can take that cash for any purpose, with a low fixed rate. 

No sales pressure, just an objective review.

If you answered yes to any of these questions and would like to learn more about your options, 
please Contact Us.  We're happy to answer any and all of your questions.