Sparks Fly for Rates on Valentine's Day

Happy Tuesday!

Yes--my husband and I went to see 50 Shades of Grey on Friday. And then I saw it again with some girlfriends last night!

In the markets

Perhaps the markets really do celebrate Valentine's Day! For the first 8 business days of February, there seemed to be no love in the markets, as we saw gains almost every day. Until yesterday!  A sliver of hope has appeared, when weak economic data on Retail Sales, mixed with European headlines about Greece was taking over market news. In turn, rates eased a bit.  Will the love last? READ MORE HERE!

 Don't forget about some of our events happening this month!  

Seminar from Transamerica Financial Advisors:
Building Your Financial Foundation
WHEN: Wednesday, February 18th
5:30-7:00pm

Margarita Monday!
Celebrate Valentine's Day AND Jennifer's Birthday!
WHEN: Monday,

February 23rd 

5:30-7:00pm

MCE Course*:
Sharpen Your Negotiating Skills!

*$5 Registration Fee
WHEN: Wednesday,

February 25th 

1:00-3:00pm

 

Have a super week, and remember WE LOVE BEING YOUR LENDER!

~ Jen 

 

4 Paths to Finding Your Starter Home

English  Spanish

Jennifer Hernandez Senior Loan Officer The Hernandez Team NMLS# 5144972500 CityWest Blvd., Suite 750 Houston, TX 77042 Office: 713-579-3600 Mobile: 713-446-7791 my website 4 paths to finding your starter home! 4 ROUTES TO THAT FIRST HOME Here are four ways for first-time buyers to find a starter home they can afford: 1. Focus only on what you need to start. Think of your starter home as a financial launch pad to the ideal home you'll spend the bulk of your life in. Decide how long you want to stay in your starter. Then list your basic needs for space and location, and don't worry about amenities. 2. Look at resale homes vs. new. New homes generally cost more than "existing" homes being resold by the resident owner. New starter homes can be hard to find, with most builders targeting upgrade buyers. An older home in a well-established neighborhood might give you what you need at a price you can manage, even accounting for renovations and repairs. 3. Be smart about location. Home prices and property taxes are higher in better neighborhoods and school districts. Why pay this premium if you find a nice home in a good neighborhood and it'll be years before your kids are in school? Another consideration: if you find an affordable home farther from work, be sure to factor in the added commuting costs. 4. Get a mortgage pre-qualification. With well-priced starter homes, you can find yourself competing with other buyers. See us for a mortgage pre-qualification to strengthen your offer. Whether you're purchasing your first home, upgrading, or downsizing, please contact us for help with the financing. We're also happy to answer questions about refinancing your current home or funding home improvements. Just call or email us any time.... Have a great day! P.S.: Mortgage rates are still at historically attractive levels, but it's smart to start the process early. Please call or email us to explore the great options now available.

Cheap Gas Means More Cash! 8 Smart Ways to Use it!

English  Spanish

Jennifer Hernandez Senior Loan Officer The Hernandez Team NMLS# 5144972500 CityWest Blvd., Suite 750 Houston, TX 77042 Office: 713-579-3600 Mobile: 713-446-7791 my website   Cheap gas means more cash: 8 smart ways to use it! Thanks to lower gas prices, we all have more cash. Here are some smart things to do with it. 1. Protect your identity. Hackers, scammers, and identity thieves have greatly increased their activities on the Internet. Buy a good cross-cut shredder for around $100, and shred all papers with vital info such as account numbers once you no longer need them. You may also want to subscribe to a credit monitoring service to check activity on your accounts. 2. Buy a home safe. Security is important offline too. A fireproof safe is a secure place to store important documents, such as wills, birth and marriage certificates. 3. Create a will. Spend some of your extra money to craft this important document. If you die without a will, state law divvies up your estate. 4. Beef up your homeowner's insurance. Standard policies usually don't cover things like sewer backups or give you the liability limits you may need. Talk to your insurance advisor about upgrading. 5. Get a tablet computer. A tablet is lighter and cheaper than a laptop, yet lets you do many of the same things–surf the Web, email, check social media and videos, watch movies and TV shows. Available online for as little as $99. 6. Buy discounted gift cards. Go to gift card resale sites that buy and sell unwanted cards for less than face value. Get cards for online and offline retailers you regularly use. 7. Purchase a scanner. It lets you make digital copies of photos you have only as prints. This makes it easy to organize and share with family and friends. Good ones start around $200. 8. Add to your savings. The best thing to do with any extra money is to add it to a savings or investment account. Putting away just a little more money each month quickly adds up to what you may need for a home down payment, educational costs, or a major purchase.

Celebrate Good Times, Come On!

Celebrate good times, come on!  

That 70's tune is sticking in my head! The kids have an obsession with 70s music because that is the era mommy was born, so on the way to school we listen to it constantly! Today I was asked by my 9 year old if I had an afro when I was young. Does BIG HAIR count? In the 80's I had hair to my elbows, and permed, remember that trend? I thought I was a true goddess! I cringe at those pics now. Once again, HILARIOUS.

Market News:

Rates are slightly HIGHER this week after the labor numbers were revised upward for January to 247K new jobs (instead of 147K!). That indicates that jobs are stronger than expected, and caused investors to go toward stocks. When that happens, bonds are left behind, and rates go up! READ MORE HERE.

Don't forget that we ALWAYS have wonderful, educational events happening every week that we would love you to take advantage of! Please call our office to inquire about any of the following:

Breakfast & Learn with Jennifer Hernandez: 

How to Create and Maintain Top Database Lists!
WHEN: Thursday,
February 12th
9:00-10:30am

Seminar from Transamerica Financial Advisors:
Building Your Financial Foundation
WHEN: Wednesday, February 18th
5:30-7:00pm

Have a super week, and remember WE LOVE BEING YOUR LENDER!

Who Let the Dogs Out?! (on these Interest Rates?!?!)

The other day I had Pablo, the little guy, in the car, and for a few minutes there was complete silence (strange....), and then all of a sudden he starts singing "Who let the dogs out, woof, woof , woof, woof woof " ...I know you are singing in your head right now! HILARIOUS! I love kids, they keep us laughing, that's for sure.

Who did let the dogs out on these rates?
They keep trending slightly lower each week! Well, the slowing economy (this week shown by the lagging GDP), global financial market instability, and of course oil prices, are all drivers that push investors to seek the safe haven of the bond market. Which pushes DOWN the yields (rates), due to over demand. Price goes up, yield goes down. Economics 101! Takes me back to my undergrad days. I was an Economics major. READ MORE ABOUT THIS WEEK'S MARKET HERE!

What is the Houston Market Doing?  

You may find the following link useful. It shows Houston MLS housing data back 25 years! While its true that our current 2.7 months of inventory is the lowest in the last 2 1/2 decades....its still a GREAT TIME to be buying or selling a home. Values remain increasing (just look at the attached trends!), and its a great time to cash in on equity selling your current home, and purchasing a new one. As we know...all trends must some day come to an end, and we don't know when these values and/or interest rates will slow down.

Enjoy the week! 

                                                 ~ Jen

Happy New Year!

This morning I took the kids to school, and I LOVE that we have a longer commute! The conversation today went from 70's music (my 9 year old is obsessed with the disco era!), questioning me if I had an afro (does big hair in the 80's count?), and when I was going to have a little baby in my tummy (that came from the 4 year old).  

If they want a little sister, they have to settle for the dog Lola!  Just to be clear, there is no baby in the tummy. The stream of consciousness though was HILARIOUS, and really got my day off to a great start!

Speaking of great start! FHA is really stepping up to make homeownership more affordable this year!

• On Jan 1, Loan limits increased to $326,600 (a price of 338,445 can have a 3.5% down payment and a 620 credit score!)
• In late January (no formal date yet) the MONTHLY  mortgage insurance premium will go down .500%, from 1.35% to .85%.  That is a savings of $42/month on every 100K borrowed!
• See more here! http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/lender/origination/mortgage_limits

 In the markets:

Last week bond yields (hence mortgage rates) DECLINED with the news of concerns about the pace of global economic growth. READ MORE HERE! 

May you be on your way to much professional and personal success in 2015!

~ Jen