Watch Out for Low Mortgage Rates You Have to Pay For

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 “how low can we appear to go” 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.

Why Are Mortgage Rates Different?

Mortgage rate Q&A: “Why are mortgage rates different?” Why is the sky blue? Why are clouds white? Why won’t your neighbor trim their tree branches? These are all good questions, and ones that often puzzle even the most savvy of human beings. First things first, take a look at how mortgage rates are determined to [&hellip

The post Why Are Mortgage Rates Different? first appeared on The Truth About Mortgage.

Don’t Freak Out About the Recent Mortgage Rate ‘Spike’

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 Mac’s weekly survey. Freddie Mac Chief Economist Sam Khater noted in the weekly news release that mortgage rates have been under pressure [&hellip

The post Don’t Freak Out About the Recent Mortgage Rate ‘Spike’ first appeared on The Truth About Mortgage.

Buying a Home for the First Time? Avoid These Mistakes

Buying a home, especially if you’re a first-time home buyer, can be daunting and nerve racking. But it does not have to be. LendingTree’s online loan marketplace has got you covered – at least when it comes to getting a mortgage. A 2016 study by the Office of Research of the Bureau of Consumer Financial …

The post Buying a Home for the First Time? Avoid These Mistakes appeared first on GrowthRapidly.

Mortgage Rates vs. the Coronavirus: We Might Test New All-Time Lows

Mortgage rates can be pretty volatile. Just like stocks, they can change daily depending on what’s happening in the economy. Beyond that, mortgage rates can move based on news that doesn’t involve a report on the economic calendar, such as a jobs report, GDP, housing starts, inflation, etc. Even if there isn’t a direct financial [&hellip

The post Mortgage Rates vs. the Coronavirus: We Might Test New All-Time Lows first appeared on The Truth About Mortgage.

What’s the Best Mortgage for First Time Buyers?

If you’re new to real estate, or preparing to make an offer on your first home, you might be wondering what mortgage is best for a novice home buyer. While both seasoned homeowners and first-time buyers may wind up with the same exact home loan, there are additional options to consider if you’ve never bought [&hellip

The post What’s the Best Mortgage for First Time Buyers? first appeared on The Truth About Mortgage.

It’s Taking a Really Long Time to Get a Mortgage Right Now

Similar to the increased waiting times to get a COVID-19 test these days, it’s 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 It’s Taking a Really Long Time to Get a Mortgage Right Now first appeared on The Truth About Mortgage.

Why There’s No Way to Avoid Paperwork When Refinancing

So you’re ready to refinance your mortgage loan to one with a lower interest rate. This could be a good move. Depending on your new interest rate, you could save a good bit of money each month in mortgage payments. … Continue reading →

The post Why There’s No Way to Avoid Paperwork When Refinancing appeared first on SmartAsset Blog.