Life as you -- -- with mark McDougal and Craig Miller. Remember you got questions we've got answers you may not take it and educate yourself up the single worst investment and opportunity you have. That investment in the roof of your head in real estate we talked about your home financing making investments in real estate we keep that in fact those -- just go back. Okay. Already like if you -- in a mark McDougal he is. Think -- if they -- -- in your area under that I'm doing okay masked men. All right we're connect yet I hope you have a -- wonderful weekend from our international intergalactic headquarters in the part of the midwest Kansas City so a lot and it'll let you part of the universe. It is it is -- intergalactic part of the universe effect on and out we hope that you are. Enjoying some pleasant weather wherever you are and we wanna make we would welcome -- a brand new affiliates. In the Pacific northwest. We are excited to have representing the south sale Monday in Washington at the south sound region -- AS the most recent. Family member team that is you own network in east learning English as yet any friends I did -- -- Imus again didn't shout out to Josh harbored out there. He's up in Seattle has taken care of some business all right I'll have to reach out to tone tune in if he has already been tuning. So if you're checking us out for the first time we are your one stop shop for everything under the roof over your head whether -- -- Or -- an aspiring home buyer or any real estate magnet. Like Craig. And I say that because you own real estate and you have a magnetic personalities that makes you a real estate magnate not to be confused with a real estate magnate. I don't know -- I'm neither in but you are magnificent. So regardless of your situation we're gonna help you get the latest tips on how to better take care of that investment. How to prepare for your financial future by you know getting a financial plan how to do your best deal on insurance how to get -- next job how to dress better and how to just be smarter. That's what we cover in a typical installment of -- -- on it. He Craig he paid attention to me I am but I'm also sit and Josh harbor. A message right now it's unfair for my gosh. Maybe we sometimes discuss eighty -- ADHD because there might be at least one of his in this room at least 50% of the people are doing the show today it might be afflicted with -- eighty. Or eighty HD or one mile W hey I don't -- I'm not talking about getting -- exactly. So folks out we got a great show free today and we are pleased that you're joining us remember you can check us out on a growing list of stations and if you're not hearing is on the airwaves. And you just catch in his own a iPod Castro may be someone SAU linked to the show you know iTunes you know. On YouTube that you know that you can go to I've tuned in radio and I heart radio all those places you can get his. But we also want to come -- you in your local markets on the radios so with. If you wanna catch and -- call your local station tell -- we want my usual at those guys are just funny and full of information so. We wanna hear from 800. 2706145. As the number shoes your questions questions at life as you own it dot com. You got a question we've got an answer or at least we will make one million bucks -- -- -- committed to. So today attention home buying procrastinators. This is your last call it's time to get off the and it's. We'll tell you why you need to buy a house. When Craig went to -- -- house now now while also was here ready to hide and if -- fully half offense not one leg on one foot on a you know we got the visuals -- even though. The you know how much money you will really need to buy that new house. It's not just the down payment there's a little more involved. And it went in too much optimism be dangerous Craig went into much optimism dangerous always. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- I think -- agree to much of it is not necessarily. A good thing. And what's this now. Let's us know Craig Craig Pittman did you do don't you just Thai food from idea when he says he's Clinton aide. Is it better Alice if you're trying to sell oil -- the car and gas station if you're trying to sell it we'll tell you what buyers might appreciate. And what they won't tolerate. In a scenario in us now there's some things they may not tolerate if they are in the studio teaser -- -- you -- -- -- leave -- 33 by Faberge. Tonight -- at some retro a -- used to Wear high karate. And load it anywhere electorate was that -- got -- for high priority in you were Stetson in Somalia silently gray flannel. Great plan asset class old spice. Gets the smell -- -- off OK so why doesn't approve an overweight belly now and I was elected -- so folks the typical show has Craig and I enjoying ourselves for now talking and actually sharing some information that you will find valuable in your daily life. And remember don't. Our should he stay or should you go segment later in the arrogant hears music playing and ironically enough the music is. Should you stated she got hit and we will we will get a real listener scenario where -- sometimes I will tell you if you should stay in that -- stay in that relationship stay in the home. And it will be quick and concise if I give the answer world -- -- lengthy diatribe if Craig does what that's what you should expect each and every shows -- next up is Cragg. Kind of kick off the -- -- mix it up accent is that actually got a lot of a mortgage companies out there listen -- what the rates for this week. Or hit they just don't and our listeners vote we at the beginning of the show which we -- -- national average for interest -- he kind of know. Where you are in the -- Europe per considering. Or in the deal you're already yen -- And -- -- you Craig let's jump on the trip unless there's there's there's anything else you want discussed. When when the folks in Seattle going to be able to tune into the ship there in this weekend with time tomorrow I mean tomorrow this all weekend I believe it's actually. Saturday at 7 AM so I think MS all three affiliates there -- AS 7 AM so -- rise in China. We hope you're up we hope you're enjoying the show and again we appreciate. You listening in given as a shot we encourage you call a station medical stations like these guys. Point five hours -- day. All right Leo a game now just -- focus and say yes. Already in great folks we're gonna bring these national. Averages as mark said every week really and just beginning -- -- noticing mark a certain accident that was to have an unexpected and your your tired out. What happens with a dream and we don't -- with the go -- and we know when you're gonna talk about them. All right so the last week to share with you what we do every week we give the previous week and the week they just passed by yes. And then where we think rates are headed -- they would try to opine but we don't always know we never know actually -- talking about there's no crystal ball. These are the averages that are based upon nationwide stats. Doesn't mean this is exactly the quote you'll get. As always there's a parameter to come up an average so which uses -- 200000 -- loan amount with 20% or more equity. -- -- with -- excellent credit obviously variations thereof could affect what type of rate quote you get in the temple program you may qualify for so look at it thirty year fixed. Previous week there four point 20 this past week to just went by four point 24 so rates went up just a little bit. 3.2 zero this past week on fifteen year fixed but the week before 3.2 seven so improved their slightly. Fifties when we're seeing here is. Fifteen year or short term mortgage rates have been improving slightly and it just weren't -- sometimes improving slightly. While the longer term thirty year fixed rate mortgages have actually gone either direction it's an interesting situation -- only the -- -- together. Five year arm where your rate would be fixed for five years and in going to the adjustment period 3.3 21. 3.3 six the prior week. And a three point 72 vs three point 84 on FHA thirty year fix FA AJ's. Did improve slightly. The only thing they did not as a thirty year average thirty year fixed standard conventional loan so. Where we think creates a head up they were I think there had I think they're gonna remain either flat. Or think they're gonna get slightly worse I think she's taken into what's in front of you right now on the reason why is this. We have butted up against resistance. In the mortgage backed security bond trading which by the way folks is how rates are determined. That trading that happens day by day is -- market is open to dictate what interest rates are. And what we've found is that there's a resistance level that we've banged off -- multiple times in the past several weeks if not months. And it's just not being able to breakthrough. We just don't see rates getting any better with the Fed stepping out of buying treasuries and mortgage backed securities they're trickling down on that. A combined with just the pressure on the market as a whole so what we would suggest you do is -- somethings and Freddie right now refinance opportunity purchase opportunity. It locked in. Take advantage of the racers that are there. Don't expect it Milan and save a bunch of money if rates improved maybe they will they might improve by an 8% maybe even a quarter but they've got a lot. More opportunity get a whole lot worse than get a lot better so. I say jump on it -- rates for the week. What's coming up mark. All right so while home buying procrastinators. This is your last call I think because -- -- my house so we think now is the time if you've been sitting on the fence so. You ready -- really do this I'm ready I've got to three reasons you need to my house now don't wait another moment. And how many of those reasons we come back from -- everyday folks let's hear it go -- good radio works and sometimes -- works that way also like -- -- it stay tuned. -- -- -- Mean are different we are acts like as you own it. Mark was just you know assault. Weathered out there for this I want everything was easy didn't and I wanted to give it you know what I appreciate that Darren I don't want your planet music. I know YE -- you know I thought it before the shell as -- as a nod to our our new listening audience in the Pacific northwest of where. We're gonna play a little bit of music that we know is that familiar to them. Since what was the movie what was the movie. Oh come on what I have to. Singles there we go I don't know and that's before your time drag news back in the inning that I'm 32 of the night in the late ninety's and now paid bright and early nineties right. I was a little farther in the the northwest doesn't Alaska when that movie came out. Clean and fish OK so what three reasons to buy a house now -- I've got three -- three -- your three you know -- placebo compared -- three reasons. Can you what do you that's right that's right it's darn good deal. So why a number one Craig we -- a good reason would be home prices are still off their highs. If folks are good bargains -- now. And six we everyone knows that's with peaked and we saw significant run down and home values stuff and run -- -- show. Knows that story all too well. And we've seen some nice nice movement -- and steady appreciation as we Sina. Health the issue economy. Lower and lower unemployment. And it's done exactly what we would have hoped we just would have hoped it would come sooner. So while we've seen it we've seen home values starting to go out. With a little more velocity. Right now it's still -- fantastic time to get a great deal on home the issue -- -- does a little lesson mandatory. But don't sit on the sideline too long because we do not see home values training -- the other direction anytime soon I'm predicting continuum momentum. With modest appreciation in the foreseeable future into the foreseeable future. What do you about -- Craig you know. I'm gonna have to say that I don't know what's gonna happen next year have a strong suspicion that we're gonna see a little bit of -- stalling period in the late part of 2015. So. Depending on how severe that is we'll see but I just haven't put missile prediction out there for listeners what's next fall. Next late summer early fall we're gonna see a major correction in the market in general I think that a slowdown house buying. Legal effect house prices -- at least in -- you can go go back but it which era Euro per year it appreciation. Prognostication. For. For now -- next ball. Though two to 4% I don't think it'll do a lot more than that I think that's a conservative number that if that it 4% and -- paces inflation and that's that's above -- just -- trend so I think it's a good I'll I'll say who I'll agree that I think probably between. Actually I think between four and 8% over the next twelve months is the aggregate appreciation nationally that we'll -- -- -- I think it's a pretty conservative number. But. That means that that 200000 dollar house is gonna cost you if it's a person's gonna cost sixteen grand more this time next year on the high end. Tom if -- right it's gonna cost -- 120000. Or less. It is now -- just -- with just campaign -- -- because there is gonna cost you the same inning he's gonna start next year 4% they're. So why that's one reason save yourself up to 16202530000. Dollars. By purchasing -- a waiting till next year you've got an appreciation. What else -- there's another thing that you know we DC interest. -- continuing do arise we expect in the continues slightly go up I don't think you're gonna skyrocket folks that you believe rates. Could potentially hit 5%. Before. And spring of next year I don't know that it will happen by the end of this year. But it is very well could we just depends on what happens that the Fed action is a pull out the reaction in the markets indicate -- that if rates at 5% or greater. This winter. -- you know early spring next year. That's gonna affect and it affects -- or listeners rule quickly about the real cost -- say a percent move. In interest rate to they're buying power structure. Well if you get an interest rate let's just say are right now you can take your rate of you know. For the quarter we're gonna use that and in rates are five and of course that 1% increase on a typical average loan amount. Nationwide is over a hundred dollars a month it's a 1000020. Dollars a month. So that's in -- -- fear about five dollars or so per thousand. That you borrow you're looking at 20000 dollar swing or more twenty to 20025000. Dollar swing in price to get to that same payment. So in other words if rates go up five and 25 and a quarter from -- quarter yet be able to buy at home for twenty to 25000 dollars less. To keep your payment the saint so understands significant amount of money when you think about one point -- double that up with the increase in -- that the likely increase in home value. On this time next year or next year. And eat it starts to become a sizable amount of about. A sizable amount of money that I sitting on the sidelines he may be. Having to invest in this house. Also another key piece we've seen over the last three years our rental rates continue to rise. Folks and they continue to outpace significantly they continue to outpace inflation. So your cost of living and renting continues to go up. And I'm so it's it's something -- you know you can keep pain in the name and keep paying rent come and watch your your investments. Not increase because you don't own it. Or you can considered an offensive -- in this music this beautiful music means it's time or should he stay or should get you ready I'm ready. He sure all right. Breton told so what writes I have a 123000. Dollar balance with a value of 200000 or so I need 5000 for an emergency and unfortunately I don't have an emergency fund. I operate a 5% so I know I can get lower I don't want to pay a bunch of fees just to get my hands on five counts. How -- do -- zero cost loan like you guys talk about on the radio show. Good question. Correct -- devious they are gone imitating -- -- go refinance imitate how to do them at no cost here it is but he. First of all you don't need -- do with cash out refinance most likely to get your hands on the 5000 dollars I do believe you take advantage. A refinancing in today's market. You've got a lot of equity there im assuming you have good credit -- rate of 5%. You should be able lower your interest rates too low to mid -- worse. With no closing cost of any kind some -- they'll provide you that type of a deal. So it's -- -- money off the rates. And you're gonna do without any fees so it's a no brainer for you how patty get your hands on a five grand a little good news. You can get 2% or 2000 dollars whichever is less whichever is greater pressure. I'm at closing without it being considered a cash -- transaction. You -- also skip the mortgage payment if he'd if he'd set it up right now -- mortgage players that you worked with hopefully your work with a certified mortgage planner. How to set up where you'll skip potentially two payments. There's going to be some additional money for him assuming you've got at least about a thousand dollar mortgage payment. And then you're gonna get a refund on your current escrow account you can finance and the new balance of the required Astros. Into the new loan. So that money will be refined into its currently sitting in the current loans escrow account by the time you factor in the 2000 bucks give a -- to you and your Oscar retirement you have your five grand. He don't have to treat as cash out along with the probably have a higher interest rates. And you try to get a question on -- several quickly on the higher interest rates you'd be in the -- does this every day is there with a 123. To 125 loan amount on 200 value. Is -- gonna have. On -- thirty my excellent. How much of an impact it was an -- to the point probably at a rate got so they re -- regardless though. There's really no greed reason do with cash out -- teacher hands on that money KGB is -- just in my nearly shattered -- probably the most efficient. Ways as Craig said to do it so. Good stuff mr. Miller yes -- leisure -- your -- -- but you know -- at all I will give I'll make sure everyone knows that does this advice is available to twenty -- day seven days a week let me give you Craig's cell number right now -- it is 81 night. To read. 555. Gosh I don't need and it -- seriously if you got a question you've got a scenario -- can now. Craig can give advice in all fifty states. And one. That's right water he went for early to judge you cannot tell you were out or other -- yeah -- thing. Saturday another story that I vetoed it seriously folks you a question Craig guy not only can he on the give you advice and all fifty states and beyond dot. He can also believe it or not facilitate a potential mortgage transaction one thing he's not gonna do he's not facilitate a more transaction for you if it doesn't make. Sense for you financially that's when he won't do that this won't do that all right is that. Okay Craig so while moving on down the road. We went to we told journalists are three reasons any by house now don't wait home values going up rates are going up. All those things are gonna make more expensive also how much money do you actually need to buy a house. Rosa. Facts you need money right not to be confused with a great deal. Now so why is he probably can acknowledge a down payment is what just one piece of the puzzle but it's usually the biggest piece threats and abroad. Gotta have a down payment just how much of a down payment you ask well it depends there are some programs that allow for no down payment VA RD and some other. Maybe local minister -- programs or. You can go FHA or you go all the way to 20% down in a land -- alone will talk Obama and a little more about -- we come back so I put -- down I know in my eyes. -- opponents.