Even though interest rates are higher than they were a few years ago, both new homebuyers and current homeowners looking to refinance can secure a good rate today. Plus, borrowers may soon see some relief if the Fed decides to pause rate hikesfollowing its July rate increase. "Over the pas...
Buying a home is exciting, but you should know what a good interest rate for a mortgage is. Learn more on interest rates for a mortgage here.
Mortgage rates are interest rates on home loans There are really TWO mortgage rates: the interest rate (or “note rate”) applied to your loan amount (or “principal”) and the rate implied by certain upfront costs (the “effective rate”). APR (Annual Percentage Rate) attempts to convey...
In this article, we break down what the current average mortgage rates are in the UK and explain what's happening in the mortgage market.
Find out what today's mortgage rates are here. What to do if mortgage interest rates stay high If you're looking to purchase a house but high mortgage rates are holding you back, here are the strategies that might help. Buy now, refinance later ...
Stephen Meurice: Interest rates are once again on the rise. On Wednesday, the Bank of Canada increased its benchmark rate a quarter percentage point, to 4.75%. That’s the highest it’s been since 2001. Scotiabank’s Chief Economist Jean-François Perrault is back this week to wal...
Variable rate mortgages are another choice – these have interest rates that can fluctuate. While that sounds scary, there are good reasons why borrowers sometimes want a variable rate mortgage. They offer you less stability, yes, but they can give you lower rates and lower fees. That means ...
An adjustable-rate mortgage, or ARM, is a type of home loan with an interest rate that can change over time. Most ARMs have rate caps that limit how much rates can fluctuate when they adjust. The vast majority of mortgages have a fixed mortgage rate, so ARMs are relatively uncommon. ARM...
Subprime mortgages are offered to borrowers with low credit ratings. They are viewed as a greater risk to the lender and, therefore, come with higher interest rates. Depending on the borrower's personal situation, it may be beneficial to wait until their credit score improves before taking out...
Adjustable-rate mortgages (ARMs) can save borrowers a lot of money in interest rates over the short to medium term. But if you are holding one when it’s time for the interest rate to reset, you may face a much higher monthly mortgage bill. That’s fine if you can afford it, but i...