Are rising mortgage interest rates enough to cool a heating market? Will housing inventory make a rebound? Your Spring 2021 update.
The Math of Refinancing: Does It Make Financial Sense?
Is Refinancing always a good idea? That depends on who you are, and what your reason is for refinancing. In this post, I give an example so you can make your own informed calculations.
Happy Veterans Day from Benchmark
If you or someone you love has served our nation in military service, thank you for your service to our nation. Happy Veterans Day from Benchmark.
The story of Veterans Day began on November 11, 1918, when the Allied nations and Germany went into armistice, bringing an end to “the war to end all wars.” In November of the following year, President Woodrow Wilson said,
“To us in America, the reflections of Armistice Day will be filled with solemn pride in the heroism of those who died in the country’s service and with gratitude for the victory, both because of the thing from which it has freed us and because of the opportunity it has given America to show her sympathy with peace and justice in the councils of the nations…”
and proclaimed November 11 as the first commemoration of Armistice Day. Originally, the day was to be celebrated with parades and public meetings, as well as a temporary closure of business at 11:00 in the morning.
November 11 became a federal holiday when a resolution was passed by Congress on the fourth day of June in 1926, stating,
Therefore be it Resolved by the Senate (the House of Representatives concurring), that the President of the United States is requested to issue a proclamation calling upon the officials to display the flag of the United States on all Government buildings on November 11 and inviting the people of the United States to observe the day in schools and churches, or other suitable places, with appropriate ceremonies of friendly relations with all other peoples.
An Act approved on the thirteenth day of May in 1938 made November 11th a legal holiday dedicated to the cause of world peace to be celebrated as “Armistice Day,” intended to honor veterans of World War I.
After the sacrifice of many during the second World War, and after the conflict in Korea, the 83rd Congress amended the Act of 1938 in 1954 to replace the word “Armistice” with “Veterans”, transforming the holiday we celebrate on the eleventh day of November into a day to honor all American veterans of all wars.
Also in 1954, President Dwight D. Eisenhower stated,
In order to insure proper and widespread observance of this anniversary, all veterans, all veterans’ organizations, and the entire citizenry will wish to join hands in the common purpose. Toward this end, I am designating the Administrator of Veterans’ Affairs as Chairman of a Veterans Day National Committee, which shall include such other persons as the Chairman may select, and which will coordinate at the national level necessary planning for the observance. I am also requesting the heads of all departments and agencies of the Executive branch of the Government to assist the National Committee in every way possible.
President Dwight D. Eisenhower in his Veterans Day Proclamation on November 8th, 2954
While there have been other minor changes since then, Veterans Day has been celebrated as such since 1954, on the history of the day set aside to celebrate peace at the end of the first “war to end all wars.”
To all who have served, Thank You. Happy Veterans Day.
Tips For Home Buyers In A Low Inventory Market
Housing inventory is one of the factors that can dramatically affect the temperature of the real estate market. Less inventory means potentially more competition and higher prices. Whether you’re a buyer or currently in the seller market, this can determine your strategy. Like most investments or assets, housing inventory can fluctuate anytime. This is why it’s important to gauge your options before buying a property.
Quick Update: Real Estate Industry Trend
Despite the ongoing economic challenges, housing prices continue to rise. This just shows the resilience of the real estate industry. As many experts have predicted, home buying and selling prospects have significantly improved in September 2020 from pandemic lows. Homebuyers are moving much faster than this time last year. According to the forecast, this upward trend could continue for three to five years.
Low Mortgage Rates: Biggest Factor in Today’s Housing Inventory Shortage!
According to an article recently published by Business Insider, low mortgage rates are one of the main reasons for the current housing inventory shortage. Several reports also show that a house is the hottest “pandemic purchase” in the country.
Today, property investors, realtors, and even casual homebuyers are now on the hunt for the best deals they can get. This makes it more challenging for buyers to find a property that suits their budget and needs.
Let’s have a look at these key takeaways:
- Residential properties have become a valuable asset, as more and more Americans take advantage of low mortgage rates.
- Existing home sales continue to surge forward for the last 3 months since the real estate market reopened from the shutdown. It soared to a 14-year high in the previous two months. There are also reports of upcoming home sales.
- Experts’ forecasts revealed that the country may experience a housing inventory shortage for the next coming years. There are new residential property projects, but not enough to keep up with the demand.
Other Important Predictions From Industry Experts
Buying a house is a big investment. Whether you’re doing this for personal reasons or as a future investment, it’s always better to keep learning about the real estate market. A good way to do this is to consider investors’ expert opinions. Here are some forecasts for the real estate market from several experts:
The demand for refinancing and housing loans remains at large
The high demand for refinance and housing loans has raised the competition among realtors, property managers, and lending officers. Many mortgage organizations, particularly new companies may have a hard time competing. Potential buyers may also experience some delays with loan applications.
Homebuyers need to explore more options when purchasing properties
Due to the housing inventory shortage, homebuyers need to exert more effort when looking for prospect properties. Be resourceful. You might want to check out some auctions, foreclosures, short sales, and bank-owned properties.
Location will still be one of the keys
Homeowners are adapting to a new lifestyle due to the current pandemic state. However, due to this upward trend and housing inventory shortage, it may be difficult for homebuyers to find the perfect home for themselves or their families.
The rise of new mortgage company startups and lending officers
Despite the global crisis, the US housing industry still looks solid,. This means many investors may be looking for opportunities to join the bandwagon, so don’t be surprised if there are more mortgage organizations in a few months or so.
Notable Reminders for Homebuyers
Although now is a good time to buy a house or invest in a property, the entire process can be a lot more challenging due to the housing inventory shortage. As a homebuyer, it’s important to find a trusted mortgage broker or loan officer. These professionals can help simplify the process for you. Just make sure to choose loan officers with several years of industry experience.
Benchmark is one of the leading mortgage companies in the United States. For more than two decades, we have helped our clients find the right loans and manage their mortgage needs. We have seasoned mortgage consultants in over 80 branches nationwide, ready to discuss the best home buying options that suit your budget and needs. Through the years, we’ve been delivering excellent customer service, by providing competitive rates and the most efficient loan processing!
So, if you’re looking for an expert loan officer you can trust, send your loan application today!
Your Home Theater On A Budget: The Ultimate Guide
Grab that popcorn and dive in to see what you can do to help make the best theater viewing experience from the comfort of your own living room.
Buy Now To Buy More: What Interest Rates Mean For You
An interest rate determines how much money must be paid in a mortgage payment. The higher the rate, the higher the interest payment. Do you agree that buying now really does mean buying more?
How To Get or Stay In Shape While Staying Home
Exercise can be a great release. Not only does it provide a healthy and positive way to relieve stress, but it also improves physical and mental health. But like many other aspects of our daily lives, the COVID-19 pandemic has reduced our physical activity. There have been shutdowns, re-openings under strict guidelines, and shutting down again after having reopened.
Getting or staying fit can be challenging, especially with many fitness centers finding themselves forced into temporary or permanent closure. Thankfully, you don’t need a gym or fancy equipment in order to exercise or get in shape. Here are a few convenient at-home workouts that require little to no equipment.
Workout 1
Push-ups
Push-ups use your own body weight as resistance, and are a great way to build arm and chest strength.
When performing a push-up, make sure to keep your hands wider than your shoulders, and keep your elbows at a 90 degree angle at the bottom of the movement.
To start, you can perform 1 warm up set of 5 pushups.
After your warm up set, you should increase the number of repetitions per set. (Below is a recommendation.) Be careful to keep the same movement and form as the warm up set.
Reps: 15-20
Sets: 3
Bonus: For added resistance, fill a backpack up with canned food or books to add some extra weight.
Workout 2
Dips
Dips are a great way to build your triceps, chest, and shoulders. Find an object in your house that is about knee high and can support your weight: a couch or a loveseat usually will be good! If it is not heavy enough to not move during movement, you can place it against a wall.
Start by facing away from the furniture you are using, extend your legs so they are straight in front of you, positioning your hands wider than your shoulders on the surface of the object, supporting your weight with your hands.
Beginning with your arms fully extended, lower yourself to about one inch above the floor, and push yourself back up with your hands.
Reps: 15-20
Sets: 3
Bonus: To add some extra resistance, balance a heavy textbook or a heavy object you can lay in your lap while doing the movement.
Workout 3
Body weight squats
Put your hands on your hips or extend them out in front of you, depending on which helps you balance. Bend your knees until your thighs are angled to just below parallel, then stand back up.
Reps: 20-30*
Sets: 3-4*
*Depending on strength
Bonus: For extra resistance, wear a backpack filled with books, canned food, or similar heavy objects.
Cardio
Cardio is considered an important component to maintaining cardiovascular health, and is an important component to a balanced workout plan. Just doing 20-30 minutes of cardio activity a day could drastically improve your general health. Here are a few different cardio routines you can easily do around the house.
Running/Jogging in place
If you don’t have a treadmill, jog or run in place at a steady pace for 20–30 minutes. Increase or decrease your intensity depending on your experience level.
Running Stairs
If you live in a home with a flight of stairs, this is a great steady-state form of cardio that is sure to get your heart beating!
Walk, jog, or run up and down the stairs at a steady pace for 20–30 minutes. If jogging or running, be careful. That’s it!
Burpees
This is both a cardio and a resistance activity that can count as an entire workout! For those unfamiliar with burpees, they are a combination of a pushup, a squat, and a jumping jack.
Start in a squat stance, and drop down to a push up position. Then spring up from that position, and jump up in one fluid motion. If you need a bit of guidance, the video above shows the proper form for this exercise. Perform burpees at the fastest pace you are able to.
Reps: 15-20
Sets: 3-4
Now get moving and conquer your at home workout!
If the quarantine has you looking into buying a home and escaping the confines of an apartment, we can help.
Contact your local Benchmark branch. Contact us today for personalized information. Call me yourself or request a call from me. WeI would be honored to provide you with our famous excellent service for your new loan.
Benchmark brings you home.
Mastering Video Calls | Pro Tips to Improve Your Image with Clients
Skype and Zoom have been around for awhile, but have recently soared in popularity, due to the Covid-19 pandemic and social distancing restrictions. It’s nearly impossible to talk with our co-workers or safely meet with prospective clients in the current market without these critical communication tools. With these new challenges, now is the time to take your online presence and impression seriously. In this article, I will give you some practical ways to maintain a professional image while video conferencing remotely from home. Let’s dive in.
Power in Clarity | Improving Your Audio
While audio quality is often overlooked when It comes to video, clean and clear audio should be your top priority. If the person on the other end of the conversation has a hard time understanding you, not much will be accomplished with the rest of the call. Here are some practical tips to improve your audio.
Find a Quiet Space
If possible, use a room where you can close the door to minimize unplanned noise distractions. When not possible, consider a headset with good microphone noise cancellation.
Use a Headset
While it may be convenient to use your computer’s built in microphone, the audio quality is lacking. Try using a headset instead, to improve clarity. As mentioned above, one with good microphone noise cancellation can help overcome unavoidable background noise. Check out some of these to get started!
Location & Backgrounds
When having video calls, you’re essentially giving people a limited tour of your home. Taking control and setting the scene is important for making a good impression. Real backgrounds feel more natural and welcoming, but they can require a little more planning to get right on camera. Make sure you take the time to prepare the room that you’re planning to use for your video conference. Throw away visible trash and tidy things up. Make sure to eliminate visual distractions like a TV, open blinds, or an active ceiling fan. Find an area with an interesting background, like a bookshelf, indoor plants, or decorative lamps, for example.
If you don’t have access to an aesthetically pleasing area in your home, digital backgrounds are a good backup option. That being said, choose a digital backdrop that feels natural, like a home office for example. While it is tempting to use a fun beach background that comes with Zoom or Skype, it gives the wrong impression, so avoid them for professional or business calls. Here are a few digital backgrounds to help you get started!
The Importance of Good Lighting
Putting effort into proper lighting can yield excellent results when it comes to professional video presentation. If you have a dedicated space, it’s highly recommended to invest in a lighting kit with at least 2 lights. In general, you want to make sure to place the lights in front of you at a 45 degree angle to help create depth. Here is a budget friendly option that works great!
If you don’t have a budget for lights, the next best thing is to use natural light from a window. Make sure that the window is in front of you. Avoid having it behind you since this will cause you to look too dark in the final image that your webcam is capturing. If your window is equipped with curtains and/or blinds, try experimenting with various amounts of light to see what works best for you.
Check Your Internet Connection | Stability is Key
Stuttering video and buffering are frustrating when it comes to video conference calls. Many times people have to repeat themselves and a missed connection can create tension. Here are a few tips on how to diagnose and improve your current connection to the internet.
Use a wired connection if possible.
Plugging an ethernet cable coming from your router into your computer will almost always be faster and more stable than WiFi.
If using Wifi, find an area with a strong connection.
Weak signals can cause dropouts and slow internet speeds. Try using the 5ghz band for your wireless networks, if possible. Learn more about that here.
Check your internet speed.
Test your current internet speed using speedtest.net. For a quality video call, Zoom recommends having at least 1.5mbps (upload and download). If you have implemented the tips above and your connection is still too slow, consider talking to your Internet Service Provider (ISP) or shopping for a new one to get higher speed internet service.
Did These Help?
I hope you found these tips to be helpful for the quality of your video conference calls! Here at Benchmark, we are dedicated to continuing our excellent service while working from home. If you’re in the market for a new home with a home office, we can help with financing.
Contact your local Benchmark branch. Contact us today for personalized information. Call me yourself or request a call from me. WeI would be honored to provide you with our famous excellent service for your new loan.
Benchmark brings you home.
PCS Nation: Interview with C.C. Gallagher
Benchmark's PCS Nation wants to make sure that all of our military members have all of the resources they need to make their PCS move a little less stressful. In this episode, Benchmark VA Loan Boss Jason Stier sits down to interview C.C. Gallagher, creator of the Stressless PCS Kit.
The post PCS Nation: Interview with C.C. Gallagher appeared first on The Veterans Home Front.
Boot’n & Shoot’n: Beyond Mortgages
Benchmark stands by our veteran heroes who put their lives on the line to defend our freedoms. Boot'n & Shoot'n is just another way we give back.
