Blog - Wendy M. Doerzbacher

How To Practice Electrical Safety Around Your Home

November 14, 2019 by Wendy Doerzbacher

How To Practice Electrical Safety Around Your Home Electricity plays an important role in your home. It helps keep you warm, allows you to cook meals, and brightens up the interior of your house. At the same time, electricity is a common hazard.

Electrocution accidents can lead to burns, serious injuries, and even death. You should feel safe in your own home. Therefore, it is a smart idea for you to remember a few important tips when it comes to electrical safety at home.

Watch Out For Damaged Power Cords

One of the most common causes of electrocution accidents at home is from damaged power cords. Over time, the wires that run through the home might start to degrade. This is a danger that is often overlooked. If the protective coating on any of your wires has been stripped away, cover the cord or replace it. If you need help doing this, call a professional for help.

Overloading The Electrical Outlets

Another common source of electrical accidents comes from outlets that have been overloaded. Your outlets have been designed to deliver a certain amount of power. If you plug too many devices into the same outlet, the circuit will become overloaded. This can lead to a fire or an explosion. If you need to plug in more devices, use a power strip. These are designed to add additional outlets in a safe manner.

An Extension Cord Is A Tripping Hazard

Extension cords are great for providing electrical power to something that is far away. On the other hand, they also should not be left out constantly. These cords are long and represent a tripping hazard. In addition to a fall injury, this can also lead to serious damage to the outlet and the cord itself. This can increase the chances of something bad happening with the home’s wiring. If you are using extension cords all the time, it is a smart idea to call an electrician who can add additional outlets to the home.

Avoiding Injuries With Electrical Safety

Other common electrical safety tips include keeping powered devices away from water and supervising children at all times. Electrical injuries are serious and should be avoided at all cost. Practicing proper electrical safety is vital to preventing injuries.

If you are looking for a new home or if you are interested in refinancing your current property, be sure to contact your trusted home mortgage professional.

4 Critical Tips To Consider When Hiring A Home Contractor

November 13, 2019 by Wendy Doerzbacher

4 Critical Tips To Consider When Hiring A Home Contractor There are many reasons why you might be interested in hiring a home contractor. These professionals are an important part of helping someone attain their dream home. While everyone cares about the price of the contractor, this is not the only factor that you should consider.

After all, the home is where people spend a lot of their time. By thinking about price alone, you might be sacrificing quality. It is important for you to take the proper steps when it comes to hiring a home contractor. There are a few factors that you should keep in mind.

Start The Process With A Detailed Plan

This is the step that absolutely must be completed before you even approach a contractor. If you need help with this, think about reaching out to a designer or an architect who can help you. Walk your contractor through your plan step by step. This will help the contractor give you a more accurate price estimate and will allow the contractor to ask important questions.

Give The Project Specifications Upfront

There are certain finishes or fixtures that you might want in your home. Make sure to provide your contractor with this list ahead of time. These specifications can drastically influence the price estimate. Save your time, as well as the contractors, by providing the specifications as early as possible. That way, the contractor can figure out how much each of these specifications is going to cost.

Ask About Insurance

It is also important for you to make sure your contractor has insurance. Sometimes, accidents happen. This is a reality of the industry. The contractor probably has a large crew that he or she needs to work with to help your project come together. This is not easy. When mishaps happen, your contractor needs to be set up to deal with these issues professionally.

Ask For Client References

Lastly, it is important for you to take a look at some of your home contractor’s work. Take a look at some of the prior projects and make sure you are satisfied with what you see. This will help you get a solid idea of what your project might look like when all is said and done.

If you are interested in purchasing a new home or refinancing your current property, be sure to contact your trusted home mortgage professional to discuss current financing options.

What’s Ahead For Mortgage Rates This Week – November 12th, 2019

November 12, 2019 by Wendy Doerzbacher

What’s Ahead For Mortgage Rates This Week – November 12th, 2019 Last week’s scheduled economic news included the Federal Reserve’s survey of loan officers and the University of Michigan’s report on consumer sentiment. Weekly readings on mortgage rates and new jobless claims were also released.

Fed Survey of Loan Officers Finds Banks Tightened Lending Standards

The Federal Reserve’s survey of financial institutions found that lenders tightened standards for credit card and other consumer loan approval. Lending officials said that concerns over the economy drove decisions to tighten standards for new credit cards, auto loans, and personal loans.

Lenders also tightened lending requirements for new borrowers in January and March. January’s revision to lending requirements was the strictest since 2009.

Lending officials surveyed said that less tolerance for risk and concerns over new borrowers’ ability to repay loans drove decisions to tighten loan approval requirements. Growing concerns over student loan debt may have influenced lenders’ reluctance to extend credit to new borrowers.

Survey respondents said that they did not tighten requirements for residential real estate loans, but did increase restrictions on commercial real estate loans. Survey participants included 76 domestic banks and 22 foreign banks and agents of federal banks.

Mortgage Rates, New Jobless Claims Fall

Freddie Mac reported lower average mortgage rates last week after the prior week’s spike. Rates for 30-year fixed-rate mortgages fell nine basis points and averaged 3.69 percent. Rates for 15-year fixed-rate mortgages fell six basis points to an average of 3.13 percent.

The average rate for 5/1 adjustable rate mortgages fell four basis points to 3.39 percent. Discount points averaged 0.50 percent for 30-year fixed-rate mortgages and 0.40 percent for 15-year fixed-rate mortgages. Discount points for 5/1 adjustable rate mortgages averaged 0.30 percent.

Initial jobless claims fell to a one-month low of 211,000 new claims filed; analysts said that last week’s reading approached a 50-year low and proved the staying power of the strongest job market in decades. In other news, the University of Michigan’s Consumer Sentiment Index rose to 95.70 in November as compared to October’s index reading of 95.50. Analysts expected consumer sentiment to fall to 95.00.

What’s Ahead

This week’s economic releases include reports on inflation and retail sales. Weekly readings on mortgage rates and initial jobless claims will also be released.

How To Practice Electrical Safety Around Your Home

4 Critical Tips To Consider When Hiring A Home Contractor

What’s Ahead For Mortgage Rates This Week – November 12th, 2019

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