Jamie Kirkegaard

574 Flips | 1 Magazine | 2 Likes | 2 Following | 358 Followers | @JamieKirkegaard | NMLS #223763, Guaranteed Rate, Inc. | NMLS ID #2611 | 14811 N. Kierland Blvd #100, Scottsdale AZ 85254 | AZ Mortgage Banker #0907078

3 ways tax reform will hit home values

The recent surge in home values could slow thanks to the freshly passed tax overhaul.<p>Sweeping tax legislation was signed into law by President Trump at the end of 2017<b>,</b> and experts said some of the changes, including a lower threshold on the mortgage interest deduction, a cap on the state and local …

Real Estate

Here's Why Fannie Mae and Freddie Mac Are Dropping Today

New legislation could end the two mortgage giants for good.<p>What happened<p>Common shares of <b>Fannie Mae</b> (NASDAQOTH:FNMA) and <b>Freddie Mac</b> (NASDAQOTH:FMCC) …

Freddie Mac

How to cut the cost of your mortgage in 2018

<b>As resolutions go, being proactive with your mortgage might seem a bit dull. But a bit of planning could save you a pretty penny in 2018, especially</b> …

Finance

6 Things to Know About Buying a Home Under New Tax Rules

If you're planning to buy a home this year, you'll need to do more than just find the right real estate agent and get preapproved for your mortgage loan. One of the key items on your to-do list: understanding how your home purchase will affect your taxes. Thanks to tax reform, the rules for buying …

The Modified Home Mortgage Interest Deduction

The tax code generally views people as having two sides: one side that seeks profit, and the other side that seeks to satisfy human needs (housing, food, clothing, etc.). Normally, the Code allows deductions for the former, but not the latter. Indeed, section 262(a) provides that “[e]xcept as …

Average mortgage rates climbed this week

WASHINGTON (AP) — Long-term U.S. mortgage rates increased this week, although they're lower than a year ago.<p>Mortgage buyer Freddie Mac says the average rate on 30-year fixed-rate mortgages rose to 3.99 percent, up from 3.94 percent last week. That average marks a five-month high, but it's still …

Five Things to Know If You Want to Prepay Your Property Taxes

Speaking with your mortgage provider is just one important step to make sure you aren’t creating a headache for yourself<p>The Internal Revenue Service’s Wednesday guidance upended many taxpayers’ plans of paying their 2018 property taxes early to claim a federal deduction before the new tax law takes …

Finance

Borrowers Lose Home Equity Tax Deduction

<i>Note: The IRS has provided clarification (you can read it here). Borrowers can still often deduct interest on a home equity loan, home equity line of credit or second mortgage. You can generally deduct mortgage interest if the funds are used to buy, build or substantially improve the taxpayer’s</i> …

Mortgage rates end 2017 with a whimper not a bang

Rates for home loans inched higher in the final week of 2017, but remained below a key psychological threshold of 4% even as many analysts continue …

Mortgages

IRS cautions taxpayers on prepaying property taxes

WASHINGTON — The U.S. Internal Revenue Service on Wednesday advised homeowners who are rushing to prepay their 2018 property taxes before a law signed by President Donald Trump takes effect next year that the payment may not be tax-deductible.<p>The law signed by Trump last week imposes a $10,000 …

What to expect from the real estate market in 2018

This article is reprinted by permission from NerdWallet.<p>The housing picture is likely to improve in 2018:<p>Home prices are expected to climb, but not …

Real Estate

How the Trump Tax Cuts Would Reshape (and/or Break) Our Economy

The Trump tax cuts are zipping through Congress at the legislative version of light speed. House Republicans unveiled their plan for overhauling …

Income Inequality

To buy a house, millennials digging deep into family's pockets

DETROIT — As home prices rise and competition for a limited supply of homes increases, young buyers are increasingly using a special financing to win in bidding wars: The Bank of Mom and Dad.<p>"It’s definitely becoming much more common, not that parents didn’t help their children in the past," said …

Ready to buy a home? Read this first

If you’re considering homeownership, here’s what you should know.<p>Get prepared for the costs involved<p>Down payment<p>You likely need money up front for a …

When Paying Off Your Mortgage Early May Make Sense | Investopedia

One of the questions I am asked most often by my clients is whether they should pay off their mortgage before they retire. As with most other …

Should you get a 15-year mortgage?

This article is reprinted by permission from NerdWallet.<p>A 15-year mortgage is the dream home loan for home buyers who can afford the much higher …

Personal Finance

Realtors are worried about Trump's tax plan. California homeowners should be too

If President Trump and congressional Republicans have their way, homeownership in California will become less attractive. And that really worries Realtors and builders.<p>And, of course, it also should greatly disturb home buyers.<p>The real estate and home building lobbies have historically supported …

Real Estate

A common financial mistake almost cost me the home of my dreams

Some homebuyers spend months scouring the market looking for the perfect house. I found mine in a day — and I had no plans to become a homeowner at the time. I was only 26, living outside Washington, D.C., in a spacious apartment with a great roommate. Renting was comfortable.<p>But that changed on a …

Real Estate

Suze Orman Says You're Not Ready to Retire Until You've Done This

"You should be grabbing every opportunity you can to eliminate the known risks in your retirement plan."<p>My fellow baby boomers, we need to talk. More …

Ellington Financial closes first non-QM mortgage securitization

The $141.2M securitization was backed by a pool of non-qualified residential mortgages originated by LendSure Mortgage. Ellington (NYSE:EFC) has a …

Mortgage Rates Wednesday: Down, as Core Inflation Steps Up

The average rate on the 30-year, fixed-rate mortgage fell three basis points, the 15-year fixed plunged seven basis points and the 5/1 ARM dropped …

Big day for private mortgage insurers after FHA report

FHA premium cuts are "off the table" for the next year, says Cowen's Jaret Seiberg (via Bloomberg), after the agency's annual report showed its …

Mortgage Insurance Program Knocked by GOP Slips But Doesn't Fall

The financial health of a top U.S. mortgage program worsened this year, which could make it harder for affordable-housing advocates to persuade a key …

Almost one in four use home equity to clear credit card debt

New research from Key Retirement has found that 45% of those looking to cash in some of their property wealth still owe money on mortgages and 24% …

Personal Finance

Calling No Legislative GSE Reform In 30 Days A Failure

Fannie Mae (OTCQB:FNMA) and Freddie Mac (OTCQB:FMCC) are two companies that are in a conservatorship. The conservatorship is not your ordinary …

U.S. baby boomers fall behind in paying off mortgages: Fannie Mae

(Reuters) - Older American homeowners are trailing the prior generation in paying off their mortgages, complicating their finances if they carry the loans into retirement, a report from Fannie Mae released on Thursday showed.<p>This lag has persisted even with an improving economy since the last …

Demographics

In Defense of Adjustable-Rate Mortgages

I’m listening to “Bad Day,” and adjustable-rate mortgages seem to be getting more popular. It must be 2006. Can’t wait to see what happens on the next episode of “Lost.”<p>No, wait, that’s my Spotify feed, not the radio. It’s 2017, and we finally seem to be pulling out of our decade-long economic …

Interest Rates

U.S. Fed buys $7 billion of mortgage bonds, sells none

NEW YORK (Reuters) - The Federal Reserve bought $7.029 billion of agency mortgage-backed securities in the week<p>Federal Reserve Board Chairwoman Janet Yellen in Washington, U.S., June 14, 2017. REUTERS/Joshua Roberts<p>from Sep. 28 to Oct. 4, compared with $6.937 billion purchased the previous week, …

Federal Reserve

3 ways your house could help you retire

Most older Americans have more than 50 percent of their wealth in home equity -- an asset many financial planners don't take into account when …