Currently, the Mortgage Bankers Association predicts a 6.5% average mortgage rate by the end of the year (though that prediction is from the group's August 15 forecast). Fannie Mae projects a 6.4% average. "Over the next month or two, and as we get closer to the election, we should se...
Mortgage banker Tom Jacobs gets many questions from homeowners. [ FROM PUBLISHER]MARILYNALVAEBSCO_bspInvestors Business Daily
Should you lock in a mortgage rate? Given the upward climb in mortgage rates over the past few years, a mortgage rate lock is often a smart choice. Consider if you lock in a 7 percent30-year ratefor a $300,000 loan. At this rate, you’d pay $418,527 in total interest. Now, le...
Builders have been able to hold prices high even as input costs have cooled with inflation. One technique they’ve used to great success in the current higher rate environment has beenmortgage rate buydowns.Builders are typically spending to bring the rate into a range of 5-5.5%3. Where sho...
That’s where a fixed rate mortgage is useful. With a five-year fixed rate mortgage, for example, interest is fixed for five years. So, you can be sure that you won’t be stung by climbing interest rates. The flip-side of that is if interest rates drop in the future, it will be...
What is an adjustable-rate mortgage (ARM)? An adjustable-rate mortgage, or ARM, is a home loan that has an initial, low fixed-rate period of several years. After that, for the remainder of the loan term, theinterest rateresets at regular intervals. This means that the monthly payments ...
Louis. Accessed 9/20/24. 4/2/1971 to 9/26/2024. Current Mortgage Rates and Spreads Typically, mortgage rates are driven directly off the 10-year treasury, trading at a relatively low spread given the relative stability of the underlying asset (collateral) and the high propensity of ...
Small business owners and self-employed individuals can use a Schedule C form to report profits or losses from a business. When you file your taxes, you can attach Schedule C to your regular 1040 form. If you recently became self-employed or started a bu
Two months ago, the average 30-year mortgage ratedropped to its lowest level in two years. This followed weeks of optimism about the economy, such as anunusually high jobs reportand falling inflation rate, and coincided with the Federal Reserve’s announcement of a 50-basis-p...
A mortgage is a loan used to purchase or maintain real estate including houses and commercial properties. Mortgages help buyers afford real estate they couldn't buy in cash.