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What a Federal Interest Rate Hike Means and How it Affects Mortgage Rates

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Update: Since the time that this article has been published, the Federal Reserve has raised interest rates 3 times, with the most recent increase occurring on June 13.

On December 13th, the Federal Reserve announced that it is raising rates by a quarter point, continuing the ongoing series of rate hikes from the Fed. Those who are invested in economics are likely to know the implications of a federal interest rate hike, but what about the rest of us? Here’s how the Federal Reserve’s interest rate hike can affect your mortgages and why.

What the Fed Is, Why it Exists, and How it Functions

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Before we tackle the effects of the Federal Reserve hiking interest rates, we have to understand exactly what the Fed is. Established in 1913 by the Federal Reserve Act after a series of financial panics, the Federal Reserve is a central bank system that serves to keep the economy stable. When the economy is going too ...


New Limits on Property Tax Deductions to Go Into Effect in 2018

On December 22, President Trump signed the largest tax overhaul in decades into law. Facing constant changes up until it passed through the Senate, the bill included changes to individual income brackets, a repeal of the individual mandate to buy health insurance, adjustments to various deductions, and many other modifications. One of the most significant changes that will affect homeowners is the $10,000 dollar cap on deductions for property taxes and other state and local taxes (SALT) for income or sales tax.

Since the bill goes into effect on the first day of the year, we are under the former tax code that does not have a cap on state and local taxes for the remainder of 2017. This means that homeowners can deduct more than $10,000 dollars for their property taxes if they pay them before the year ends. It is important to note that this varies by county and benefits some homeowners more than others. For example, those who don’t typically pay more than $10,000 dollars in state and local taxes will not notice this change in policy. It is important to speak with a financial advisor before deciding to make an extra payment.

For those that hold impound account with their lender, your property ...


City Council fails to reach agreement on Airbnb regulations

On Tuesday, December 12, the San Diego City Council failed to come to an agreement on regulations for short-term rentals. The San Diego City Council started working on establishing coherent regulations three years ago when applications such as AirBnb, FlipKey, and HomeAway began to take off.

The council heard two proposals followed by five hours of public comments during the ten-hour meeting, but could not reach a majority vote for either of them. This frustrated some councilmembers.

“I’m very disappointed today,” Councilman Scott Sherman told the San Diego Union Tribune. “We’re like a dysfunctional family.”

Both sides are aiming to resolve zoning conflicts by nailing down who can receive rental permits and under what circumstances, but are split on the details.

Proponents of firmer regulations claim that apps like AirBnb cause a surge in housing and rental prices, which can drive out families and deteriorate longstanding communities. Other tenant-related complaints say that loud parties, littering, and overcrowding are becoming more prominent in their neighborhoods.


7 Things to Expect from a Trustworthy Mortgage Broker

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Purchasing a home is a process that must be done right since mistakes can be costly. Because of this, you’ll need to partner with experts such as loan officers or real estate agents who have an intimate understanding of the industry to guide you along the right path and assist you as needed. Here are 7 things that you can expect from a professional and trustworthy mortgage broker.

Educate and Guide

Your mortgage broker or loan officer should help guide you through the loan process with your best interest in mind. This begins with educating you about the process and laying out a game plan. A great mortgage broker will work with you to find out exactly what your current and future home buying needs are and how to best fulfill them. This means that they will not only inform you of all loan programs currently available to you in your situation, but also explain what each program means and the long-term outcome of choosing each option.

Be Transparent About Rates and Loan Costs

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There are many costs associated with ...


Simple Gifts for Less Than $20

Dec 12
3:28
PM
Category | General

Simple Gifts for Less Than $20

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The holiday season is rapidly approaching which means that many of us are going gift shopping. However, we can't get always big-ticket items for everyone on our lists. Here are some of the many affordable gift options that you can take advantage of.

Personalized flash drive
$5-15

Flash Drive

When you give the gift of a flash drive, you can personalize it for the person who is receiving it. You can turn it into a digital mixtape by adding albums or a playlist to the drive. You can include movies, PDFs, and anything other digital content that you think the receiver will love!

USB Reading Lamp
$10.99

USB Lamp


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