Category: Mortgage Rates
If youâre scratching your head wondering why home prices continue to go up and up, consider the fact that itâs actually cheaper now than it was a year ago. Itâs also less expensive to own a home today than it was back in 2019, 2018, 2008, 2007, 2006, 2005, and even during parts of 2004. [&hellip
The post Real Estate Is Red Hot Because Mortgage Payments Are Still Cheap first appeared on The Truth About Mortgage.
We’re all looking for an angle, especially if itâll save us some money. Whether itâs a stock market trend, a home price trend, or a mortgage rate trend, someone always claims to have unlocked the code. Unfortunately, itâs usually all nonsense, or predicated on the belief that what happened in the past will occur again [&hellip
The post When Are Mortgage Rates Lowest? first appeared on The Truth About Mortgage.
If and when you take out a mortgage, youâll be faced with an important choice. To pay or not pay mortgage points. In short, those who pay points should hypothetically secure a lower interest rate than those who do not pay points, all else being equal. Thatâs because mortgage points, at least the ones that [&hellip
The post An Alternative to Paying Mortgage Points first appeared on The Truth About Mortgage.
Similar to the increased waiting times to get a COVID-19 test these days, itâs taking an extended amount of time to get a mortgage to the finish line. The reason is simply unprecedented demand, just like those COVID-19 tests. The more people that need one, the longer the wait, period. This is the downside to [&hellip
The post Itâs Taking a Really Long Time to Get a Mortgage Right Now first appeared on The Truth About Mortgage.
With mortgage rates at or near record lows, a lot of existing homeowners are probably asking themselves, âIs refinancing worth it?â The problem is thereâs no absolute right or wrong answer to this question, though with interest rates a lot lower than they were a year or two ago, the answer to this question will [&hellip
The post Is Refinancing Worth It? first appeared on The Truth About Mortgage.
Everyone likes a discount, right, even if itâs on a small one-time purchase that equates to a nominal amount. For one reason or another, it just feels like a win. Itâs obviously even sweeter if you get a discount on a big-ticket item, as the savings will be much larger. Better yet, how about a [&hellip
The post 10 Mortgage Lenders to Consider for the Best Mortgage Rates (and Fees!) first appeared on The Truth About Mortgage.
Queue the panic. Mortgage rates have officially spiked and the media is all over it. Yep, the average rate on a 30-year fixed mortgage increased from 2.65% to 2.79% this week, per Freddie Macâs weekly survey. Freddie Mac Chief Economist Sam Khater noted in the weekly news release that mortgage rates have been under pressure [&hellip
The post Donât Freak Out About the Recent Mortgage Rate âSpikeâ first appeared on The Truth About Mortgage.
The leading wholesale mortgage lender in the nation has brought the heat once again, this time offering 30-year fixed mortgage rates below 2% on FHA loans. United Wholesale Mortgage announced that borrowers can now lock in interest rates as low as 1.99% on FHA-backed loans via its popular Conquest program. The new Conquest for FHA [&hellip
The post United Wholesale Mortgage Now Offering FHA Loans with Rates Below 2% first appeared on The Truth About Mortgage.
Mortgage match-ups: “Mortgage rates vs. the stock market.” With all the recent stock market volatility, you may be wondering what effect such events have on mortgage rates. Do mortgage rates go up if stocks go down and vice versa? Or do they move in relative lockstep? Let’s find out! Stocks and Mortgage Rates Follow the [&hellip
The post Mortgage Rates vs. the Stock Market first appeared on The Truth About Mortgage.
Mortgage rates keep on marching lower and lower, with new records broken seemingly every week. But with all the fervor surrounding mortgage rates, some lenders are playing the âhow low can we appear to goâ game. For example, mortgage lenders may be talking about their lowest rates (with multiple points required), as opposed to offering [&hellip
The post Watch Out for Low Mortgage Rates You Have to Pay For first appeared on The Truth About Mortgage.