Mortgage rates are at all time lows. Let us check your situation and see if a mortgage refinance could save you money. Refinance Tell Us Your Story Whether you are a first time homebuyer or an experienced real estate investor, having a mortgage team you can count on is crucial. ...
The median mortgage payment jumped to a record $2,843 in April, up nearly 13% from a year ago, a new analysis finds. Apr 25 2023 was brutal for homebuyers. Here's what to expect in 2024. Mortgage rates recently hit their highest levels in more than two decades, pricing many out...
ARM loans fluctuate with the market after a certain period, this loan may provide introductory low interest rates and caps. After that, the rate may vary depending on the market index. Arms may be good if you plan on selling your home after a few years. ...
It was bad news but big news a few days ago when the average top tier 30yr fixed rate made it back to 7% for the first time since early March. After trying to stage a modest recovery yesterday, the pain continued today. The bond market (which dictates day to day rate movement) is ...
no discount points or origin fee, the highest rate cited was 6.25 percent, the lowest rate cited was 5.875 percent, and the average was 6.014 percent.Last week's average was 5.982 percent.The second half of 2001 was marked by steady declines in mortgage rates from the beginning of July to...
Overall strength of the economy— A strong economy usually means higher rates, while a weaker one can push current mortgage rates down to promote borrowing Lender capacity— When a lender is very busy, it will increase rates to deter new business and give its loan officers some breathing room...
Likewise, when inflation moves lower, mortgage rates tend to come down, too. Impact of employment data According to the Bureau of Labor Statistics (BLS) data, unemployment reached 4.1% in October—up from 3.8% a year ago. Historically, higher unemployment leads to lower housing demand, which...
The influential yield on the 10-year Treasury was somewhat firmer as this week went on, but it's not clear how much of the increase will translate into mortgage rates next week. We'll hedge our bets on that follow through a bit, and expect to see a 4-6 basis point increase in the...
Mortgage interest rates (and Treasury yields) have bounced up and down over the past several months, with the 30-year fixed rate on a home loan going from 7% in May to the low 6% range by September – before reversing course to nearly 7% again in October. A Flourish chart The FOMC ...
The introductory period of variable rate deals can be cheaper than a fixed-rate deal initially, but become more expensive if rates rise (or cheaper if rates fall). Standard variable rate (SVR) This is the mortgage lender’s default rate and is usually higher than any of their other deals...