Mortgage Interest Rates Are Still Great! Interest rates hovered around 4% for the majority of 2017, which gave many buyers relief from rising home prices and helped with affordability. In the first quarter of 2018, rates have increased from 3.95% up to 4.45% and experts predict that rates will increase even more by the end of the year. The rate you secure greatly impacts your monthly mortgage payment...
According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 3.92%, which is still near record lows in comparison to recent history! The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power. Purchasing power, simply put, is the amount of...
Mortgage 101 - What is a mortgage? A mortgage loan to finance the purchase of your home consists of five parts. Collateral Principal Interest payments Taxes Insurance When you agree to a mortgage you enter into a legal contract promising to repay the loan plus interest and other costs. Your home is collateral for that loan, if you fail to repay the debt the lender has the right to...
What You Need to Know About The Mortgage Process What you need to qualify in today's market: Down Payment - Generally between 5-20% of the purchase price. However, many home buyers are putting down 10% or less - with some putting down as little as 3% Income Verification, Credit History & Asset Documentation - the paperwork needed to apply for a mortgage on the balance of the purchase price of...
Their are many benefits to homeownership. One of the top benefits is being able to protect yourself from rising rents by locking in your housing cost for the life of your mortgage
According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 3.96%, which is still near record lows in comparison to recent history! The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power. Purchasing power, simply put, is the amount of...
Long-term mortgage rates fell to record lows for the second consecutive week on the Federal Reserve's mortgage securities purchases and signs of a weakening economy, the Washington Business Journal reports.
You might already know that a mortgage is usually a tool to get money to purchase a home or real estate with a particular number of payment cycles and interest rate. You can use this kind of financing to have private ownership of residential or commercial property. Some times a mortgage is utilized as a lien which signifies the amount of money you may owe on real estate to the lender. Some people...
Refinancing your mortgage loan may appear like a great concept if you happen to locate your self in a bind such as getting a hard time making your home loan repayments. If this resonates with you then there are some issues you may wish to consider before proceeding. Thinking about these elements will assist you to figure out whether or not it is the best time to refinance, and whether or not you need to...
Freddie Mac recently released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates again hitting new record lows. The 30-year fixed-rate mortgage at 3.79 percent continues to remain well below 4 percent and 15-year fixed-rate mortgages are also slightly down at 3.04 percent.