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...
Exploring less-common mortgage products is another option.Adjustable-rate mortgages, for example, offer lower rates than fixed ones for the first few years of the loan. These are good if you only plan to be in the home for a few years — before your rate can increase. "Having worked with...
Prospective homebuyers have been eagerly awaiting lower mortgage rates amid Federal Reserve rate cuts, but the path to mortgage rate relief isn't so simple. Erika GiovanettiDec. 18, 2024 What Is Escrow on a Mortgage? A mortgage escrow account is used as a way to include property taxes and ...
READ: 2025 Housing Forecast: Will Mortgage Rates Go Down? When Is an ARM a Good Idea? You Plan on Refinancing Before the Fixed-Rate Period Expires Some homebuyers view an ARM as a temporary financing tool, since you can always refinance to a fixed interest rate before the adjustment period...
Zuckerman, Howard J
Is a fixed-rate mortgage safer than an ARM? A fixed-rate mortgage can come with less risk than an ARM. With a fixed-rate home loan, your principal and interest payments will stay the same for the duration of the loan. This can make it simpler to budget for monthly payments. With an...
Mortgage rates hover near record lows today, but experts forecast they’ll rise in the coming months. Waiting could prove costly when that happens. Let’s connect today to discuss today’s rates and determine if now’s the time for you to buy....
What is a mortgage-backed security? A mortgage-backed security is a type of financial asset, somewhat like a bond (or a bond fund). It is created out of a portfolio, or collection, ofresidential mortgages. When a company or government issues atraditional bond, they are essentially borrowing...
While the rate lock-in effect is still playing a role in today's low inventory, it will fade further over time, especially as the Federal Reserve decides to cut rates later this year, Fairweather said. Mortgage ratesare also forecast to modestly decline this year as theFed trims interest ra...
“When people think about home values, they often mean, ‘This is the price that I could sell it for if I were to sell it today,’ or ‘This is the way a bank would value it if I were to go talk to the bank about getting a home equity loan or maybe refinancing ...