Bob Walters, chief economist and vice president of capital markets for Quicken Loans, is getting called upon more and more for his advice on all things mortgage related. After being quoted on programs and publications like CNN, USA Today and the Wall Street Journal, Walters continues to be interviewed and quoted for his knowledge on the housing market. His most recent foray into the media world was for the Real Estate Today Radio Show, a show for buyers and sellers in the real estate world.
Echoing the awesome reports we’ve heard about mortgage rates and the housing market over the past few weeks, Walters discusses why now is the time to get a home with host Gil Gross. A decent amount of time is spent explaining the different types of mortgages available and the pros and cons that go with them. Walters is quick to mention the Quicken Loans YOURgage, a fixed-rate loan the can be anywhere from 8 to 30 years. Many consider 30 years to be the locked-in standard, an obvious choice for a mortgage length. Walters explains, however, the benefits of using a YOURgage; if you want the advantages of a fixed-rate mortgage but you know you’re going to move once your kids graduate high school in nine years, you can get a YOURgage for that time instead of locking into a 15-year FRM or a pricier ARM.
You can listen to the full Real Estate Today Radio Show episode here for more information on mortgages, straight from the guru Bob Walters.
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