Looking for the best mortgage rates? Weâve all heard about the super-low mortgage rates available, but how do you actually get your hands on them? When itâs all said and done, it never seems to be as low as the bank originally claimed, which can be pretty frustrating or even problematic for your loan closing. [&hellip
The post Mortgage Rate Shopping: 10 Tips to Get a Better Deal first appeared on The Truth About Mortgage.
As youâre probably aware, the latest move to boost the economy was another round of quantitative easing, known as QE3. This most recent initiative targets mortgage-backed securities specifically, with the Fed pledging to purchase $40 billion per month, on an open-ended basis, until things improve. Since it was announced, mortgage rates have inched down to [&hellip
The post Consumers Donât Care About Low Mortgage Rates Anymore first appeared on The Truth About Mortgage.
Utilities, pets, parking, amenities – there may be more to your rent payment than you thought.
As widely expected, the Federal Reserve announced âQE3â last week, a move taken to bolster the flagging economy by putting downward pressure on long-term interest rates. More specifically, the Fed pledged to purchase even more agency mortgage-backed securities (MBS) in an effort to push mortgage rates lower than already are, via a method known as [&hellip
The post What QE3 Means for Mortgage Rates first appeared on The Truth About Mortgage.
Yapping, chewing, howling, scratching … not in this home!
Yet another proposed rule is being floated by the Consumer Financial Protection Bureau (yes, theyâve been busy) to help mortgage shoppers better understand the origination costs and fees associated with their home loans. The group argues that in its current state, itâs difficult for consumers to compare different combinations of mortgage rates, points and fees. [&hellip
The post New Rule Aims to Demystify Mortgage Origination Costs and Fees first appeared on The Truth About Mortgage.
Since April 1, 2009, roughly 16.2 million American homeowners have refinanced their mortgages, according to the latest Housing Scorecard released by HUD. But as you may or may not know, there are still millions of homeowners who have not, for one reason or another. Some may not be eligible, while others may be going through [&hellip
The post Pros and Cons of Refinancing Your Mortgage Right Now first appeared on The Truth About Mortgage.
There are a lot of good reasons to buy a house, and probably a lot of bad ones too. But all too often, folks seem to get fixated on the investment side of things above all else, as if theyâre playing the stock market. This is especially true at the moment, with home prices up [&hellip
The post 10 Reasons to Buy a House Other Than for the Investment first appeared on The Truth About Mortgage.
Every week, mortgage financier Freddie Mac comes out with a mortgage rate survey, which reveals the average interest rate (and points) charged by lenders for popular types of home loans. About 125 lenders from across the nation, including thrifts, mortgage lenders, credit unions and commercial banks, take part in the survey that dates back to [&hellip
The post The Problem With Mortgage Rate Surveys first appeared on The Truth About Mortgage.
Letâs face it, these days it takes a while to get a mortgage. And by a while, I mean months in some cases. Why? Because everyone and their mother is well aware of the record low mortgage rates, and they all want a bite. As a result, both purchase and refinance transactions are averaging 48 [&hellip
The post A Long Mortgage Process Can Be Your Friend or Your Worst Enemy first appeared on The Truth About Mortgage.