Banks really do want to make home loans

In the aftermath of the housing bubble, there was a common perception that mortgages were impossible to obtain, that banks didn’t want to make home loans. Based on a recent publication from Oregon Community Credit Union on the home mortgage environment, that perception appears to persist. It’s worth remembering that one of the primary fallouts of

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ARM vs. fixed-rate loan: Which is right for you?

Even though interest rates for traditional 30-year mortgages are near the lowest on record, some home buyers in Bend, Oregon, take on adjustable-rate mortgages, or ARMs. These loans start, for a predetermined time, with an interest rate even lower than that of a traditional 30-year loan, after which the rate adjusts – and payments can

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How to find a lender that’s right for you

If you’re in the market to buy a home, you’re probably in the market for a mortgage, as well. Here are some suggestions on choosing a lender. Know your options for obtaining a mortgage. You’re not limited to a bank with nationwide branches or one of the big online lenders. Credit unions and regional banks

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Changes might bring banks back into the mortgage game

By Jason Boone Even as the housing market rebounded from the depths of the recession, big banks largely stood on the sideline. They watched as nonbank institutions — companies that only make loans and don’t offer traditional banking services such as savings and checking accounts — gobbled up more and more of the mortgage market. Deregulation

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Fed holds rate steady; what does it mean for Bend real estate market?

By Jason Boone Federal Reserve chairwoman Janet Yellen announced this month that the central bank would not raise its benchmark interest rate. What can be read into that for the housing market in Bend, Oregon? First understand that the Fed Funds Rate is used to set the rates of most bank loans. Also keep in mind

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Could a negative interest rate policy affect Bend’s housing market?

By Jason Boone Negative interest rates have been a hot topic of late among those who follow fiscal policy. (And really, who doesn’t?) This is not without reason. Europe had already delved into negative interest policy when the Bank of Japan decided in January to follow suit. After that, you knew it would not take

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Amid flurry of news, mortgage rates likely to remain low

By Jason Boone The Federal Reserve’s plan for its federal funds rate has been making plenty of news as of late. The Federal Reserve’s Open Market Committee decided last week to keep the range for the federal funds rate — the rate at which banks charge other banks on overnight loans — steady at between

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Despite hike, relatively low mortgage rates likely to continue

By Jason Boone The news was hardly surprising last week when the announcement came that the Federal Open Market Committee would be hiking the target range of the federal funds rate a quarter point. After seven years of a zero-interest policy, such a move from the Federal Reserve had been rumored for months as the

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Buying a home rather than renting still the prudent choice for many

By Jason Boone To rent or buy a home is an age-old question. It also happens to be among the most important financial decisions anyone can make. The real estate market in Bend, Oregon, has continued to show strength since the Great Recession has relented. Meanwhile, renting in Central Oregon has proved difficult, with rising

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New forms are easier, but homebuyers should know more about TRID

  By Jason Boone Before buying real estate in Bend, Oregon, it’s helpful for a prospective buyer to know more about some important documentation changes. The TILA–RESPA Integrated Disclosure, or TRID, is a mouthful for most anyone to say. But what might be difficult to say (the government is calling it Know Before You Owe)

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