These three things most important for mortgage customers

by Steve Randall17 Apr 2017
These three things most important for mortgage customers
Most Americans (67 per cent) have either had or will have a mortgage according to a new poll by Ally Bank.

It found that of those that have already had a home loan, 37 per cent were satisfied or very satisfied with the mortgage application process but there are three clear factors that are important to borrowers.

Interest rates are of course the most important factor (98 per cent said so) but 96 per cent of those who have had a mortgage or plan to apply for one said that the total closing costs affect their choice of lender and 93 per cent said that the lender’s reputation for customer service and convenience would be a key factor.

Poor customer service and communication were the two things cited by who said they were not satisfied with the mortgage application process with closing costs and interest rates less important.

Chicago housing market rebounds from slow 2017 start
Home sales jumped 14.8 per cent in March compared to a year earlier with 9,556 sales according to data from RE/MAX.

"We expected a fairly robust early spring market, but the March results definitely surprised on the upside," said Jack Kreider, executive vice president and regional director of the RE/MAX Northern Illinois network.

The strong month meant a first quarter total up 5.6 per cent from the same time a year earlier despite January and February sales declining. The median sales price was up 10.4 per cent to $234,000 in March.

“Buyers were facing a market where inventory remained low by historic standards, but that didn't slow them down much. I'm optimistic that we can maintain this momentum at least through the second quarter," added Krieder.

The rise in sales in March was led by single-family detached homes, up 15.8 per cent from a year earlier.

Opera star’s former home listed at $5 million
The former home of opera soprano Licia Albanese has been put on the market in Connecticut at $5 million.

The star was a regular performer at the New York Opera House from the 40’s to the ‘60s, the New York Post reports, and would often sing to her guests from the balcony of the Norwalk home where she spent her summers.

The 5-bedroom, 5.5-bathroom home has outdoor space including a deepwater dock and a tennis court.

Merrill Till, of Houlihan Lawrence has the listing.

Poll

Is TILA-RESPA a good or bad thing long term?