Kathy Orton, The Washington Post Published 7:47 am PST, Thursday, November 15, 2018 Investors' jitteriness kept a lid on mortgage rates this week. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average held steady at 4.94 percent with an average 0.5 point. (Points are fees paid to a lender equal to 1 percent of the loan amount.) It was unchanged from a week ago and up from 3.95 percent a year ago. The 15-year fixed-rate average rose to 4.36 percent with an average 0.4 point. It was 4.33 percent a week ago and 3.95 percent a year ago. The five-year adjustable rate average also didn't move, remaining at 4.14 percent with an average 0.3 point. It was 3.21 percent a year ago. "Despite recent market volatility, mortgage rates remained steady this week," Sam Khater, Freddie Mac's chief economist, said in a statement. "The stability in mortgage rates reflects the moderation in inflationary pressures in the economy due to lower oil prices … [Read more...] about Mortgage rates plateau amid stock market fluctuations
A wounded veteran and his wife, both retired Marines, got the gift of a lifetime on Saturday, just ahead of Veterans Day. The Tunnel to Towers Foundation gifted the couple with a brand-new "smart home," built for them on their 15-acre farm in upstate New York. Lance Corporal Mark Beyers is a Purple Heart recipient. He lost his right arm and leg in an IED blast in Iraq in 2005. He needed 39 surgeries and months of rehab before he could return home to his wife, Denise, the foundation writes on its website. Corporal Denise Beyers also served in the Marines and worked stateside. The two high school sweethearts enlisted together in 1998. After retiring from the Marines, they settled in East Aurora, New York, where they make and sell maple syrup, honey and seasonal poultry and produce on Beyers Maple Farm. The couple sacrificed a lot to defend our country, and now the foundation – which is dedicated to honoring military and first responders who "make the supreme sacrifice of life … [Read more...] about Purple Heart recipient receives mortgage-free “smart home” from veterans’ foundation
A MODEL has saved herself £1,000 a month by buying a canal boat and doing it up herself. Kimberly Marren, 31, paid £18,000 for the boat and spent £7,000 renovating it, using up her entire life savings, but now lives mortgage-free. She lives on the boat with her partner Maarten and baby Willow in Hackney, East London. The mum-of-one, who works part time as a model and actress, got sick of renting in London after ten years and decided it was time for a change. She told the Mail Online: "I was renting in a property worth around £800,000 and I felt so at home there but I just knew it was never really mine." After hours of hard labour, Kimberley was able to convert the old barge into a stylish, comfortable home for her family, even doing the plumbing and electrics herself. She got the idea after meeting a girl who lived on the river and used the extra money saved on rent to invest in her own business. Since then Kimberley has appeared on Sarah Beeny's How To Live … [Read more...] about Mum-of-one, 31, living mortgage free after buying canal boat for £25,000 and refurbishing it herself
"The government respects -- as it always has respected -- the work and independence of judicial authorities but as the executive power, we can't but regret the situation created by the Supreme Court's sentence," Pedro Sanchez told reporters. On Tuesday evening, after weeks of controversy and to a huge outcry, the court ruled that just like they had done for decades in accordance with the law, customers getting mortgages would continue to pay the tax. That same court had decided the exact opposite just three weeks prior on October 18th. But after Spain's banking shares dived, it decided to re-examine the decision, leading to its change of heart. In rare criticism of the justice system in a country whose government vaunts the separation of powers, Sanchez asked the Supreme Court to engage in "self-critique." He said his government would adopt a decree on Thursday aimed at modifying the law that regulates property … [Read more...] about Spanish banks will now have to pay mortgage tax instead of buyer
Liz Weston Nerdwallet Published 12:04 AM EST Nov 12, 2018 Most people would be better off not having mortgages in retirement. Relatively few will get any tax benefit from this debt, and the payments can get more difficult to manage on fixed incomes. But retiring a mortgage before you retire isn’t always possible. Financial planners recommend creating a Plan B to ensure you don’t wind up house rich and cash poor. Mortgage-free retirement is usually best Mortgage interest is technically tax deductible, but taxpayers must itemize to get the break – and fewer will, now that Congress has nearly doubled the standard deduction. Congress’ Joint Committee on Taxation estimates 13.8 million households will benefit from the mortgage interest deduction this year, compared to more than 32 million last year. Even before tax reform, people approaching retirement often got less benefit from their mortgages over time as payments switched from being mostly interest … [Read more...] about Weston: Should you pay off mortgage before you retire?