Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
CUNA Advice In USN&WR: Don't Delay Buying Home To Get Better Rate
MADISON, Wis. (9/13/13)--First-time homebuyers got some advice from the Credit Union National Association in Wednesday's U.S. News & World Report about what not to do when buying a home.
 
One mistake homebuyers should avoid is delaying the buying process in hopes of obtaining a better rate, said Mike Schenk, CUNA's vice president of economics and statistics, in the article "Here's How A New House Goes From 'Solid Investment' To 'Worst Decision Ever.'"
 
Adjustable rates are now at rock bottom at 3%, Schenk said. If a homebuyer is ready to make the commitment, talk to a lender about securing a loan at an adjustable rate instead of a fixed rate, the article said.
 
Other mistakes first-time homebuyers make, said the article, include:
  • Searching for the dream home before getting prequalified for a loan;
  • Thinking short-term, instead of about the resale value of the home;
  • Making an emotional decision that ignores problems; and
  • Overlooking hidden costs, such as maintenance, utilities and property taxes.
The article also appeared in Businessinsider.com. Use the link to access the full article.


RSS





print
News Now LiveWire
Record # of applicants for Crash the GAC means every state & D.C. will B represented by young #CU professional at #CUNAGAC #crashthegac15
7 hours ago
.@WOCCU and @CUNA are co-hosting 2015 America’s CU Conference July 12-15 in Denver. Registration is open here: http://t.co/FanFeaO0bC
7 hours ago
Recording of @CUNA Jan. 26 #rbc2 webinar is now available online here: http://t.co/jgxkd65Fj0 Just sign in and listen.
8 hours ago
.@SEC_News 2/19 proxy voting roundtable: contested director elections, increasing retail shareholder participation http://t.co/8k0p6ZvNL8
8 hours ago
.@TheNCUA posted resources 2 help consumers protect themselves,take action if they believe they were ID theft victims:http://t.co/HVaikbuT9H
9 hours ago