May 2017 New Engalnd Mortgage Moments

          The share of mortgages for home purchases increased in April 2017 according to the latest report from mortgage origination partner Ellie Mae.

 

         The average FICO score for closed first position loans was 720 with LTV of 80% (20% down payment). Mortgage DTI was 25% of 39% total debt. Purchases made up 65%, with refis down to 35% from last year when purchases were 59% of new mortgages & refs were 40%. The average 30-year mortgage rate was 4.41% in April, up from 4.39% in March while Adjustable Rate Mortgages represented the highest level since November 2014. Loan choice remains the same from last year with Conventional loans being about 63% of new mortgages, FHAs about 23% and VAs about 10%,  

 

         As your fiduciary agent I will help you discern property inventory data, amenities and style to make the best decision about your property selection and value. Your loan officer will help you complete the application to deliver the terms the lender has agreed on. You may find different terms and costs from different lenders, particulars I and your loan officer can help you understand. Paying additional principal will shorten your loan and save money,  Borrowing to pay additional costs will cost you more in interest every year, so be sure you amortize your terms

 

       Since 1996 I have been the foundation of your success in real estate, showing you the way home, with integrity and dedication to excellence in real estate agency. Sincerely, David Carr, 

Connecticut Ranked #4 in 2017 USA Education, Economic, Civic Opportunity

CT Ranked #4 in  2017 USA Education, Economic, Civic Opportunity

05/11/2017 ·

Including Connecticut, ranked #4 nationally, the New England states grabbed five of the top 10 slots in the Opportunity Index, an analysis of “how opportunities measure up” in communities across the country.  The Opportunity Index is an annual composite measure at the state and county levels of economic, educational and civic factors that expand opportunity.


In the Education component of the Opportunity Index, Connecticut ranked second.  The state ranked sixth in the Community aspect of the index, but 20^th in the Economy scorecard.  The Economy rankings included data on jobs, wages, poverty, inequality, access to banking, affordable housing and internet access.
Connecticut’s overall score was 62.8, compared with the national average of 54.0.  Among Connecticut’s eight counties, the best overall opportunities are in Middlesex County, which earned a 63.1 score.  Next were Tolland County, 62.3; Fairfield County,62.1; Litchfield County, 60.6; Hartford County 59.5; New Haven County, 56.8; New London County, 54.3; and Windham County 51.2.

 The data, according to Opportunity Nation , comes from the U.S. Census Bureau, the Bureau of Labor and Statistics, the Federal Communications Commission, the National Center for Education Statistics, the Center for Disease Control and Prevention and the U.S. Department of Justice


Since 1996 CT Licensed REALTOR David Carr has represented buyers and sellers of real property in Southern Connecticut. David has the resources available to support your goals, backed with  hyper local market analysis