Spotlight on Labor Market A weaker-than-expected Employment Report helped mortgage rates improve on Friday. Hints that the shortfall was due to temporary factors caused investors to reverse the gains and mortgage rates ended the week a little higher. According to the Nonfarm Payrolls Report, the economy added just 126K jobs in March, roughly half the… Read More

Do not consolidate your debt!  It is better to keep your balances lower on multiple credit cards than to consolidate them onto 1 or 2 credit cards.  Credit card companies will interpret higher balances as being “maxed out” and this will negatively affect your credit score.

Pay your bills on time!  This seems like such simple advice for anyone.  This is especially important if you are looking to purchase a home and obtain a mortgage in the near future.  One 30 day late payment can affect your credit score significantly.

Make sure you keep good records of all significant deposits or asset movement when you are looking to obtain a mortgage.