5 Things to Look for in a Rental Listing
Lackluster listings abound – learn to cut through the clutter and spot the keepers.
Renting
Is a 2% 30-Year Fixed Mortgage a Real Possibility?
Week after week, mortgage rates continue to shatter records, and dip to levels no one thought was possible. It seems as if every month we have to revisit the conversation because what seemed like a bottom wasnât. In fact, not too long ago a 30-year fixed mortgage in the 3% range seemed absurd. Now itâs [&hellip
The post Is a 2% 30-Year Fixed Mortgage a Real Possibility? first appeared on The Truth About Mortgage.
Why Your Mortgage May Get More Expensive
Last Friday, the Federal Housing Finance Agency (FHFA) announced plans to increase guarantee fees (g-fees) on loans sold to Fannie Mae and Freddie Mac. Banks and lenders pay Fannie and Freddie so-called âg-feesâ in exchange for purchasing their loans and bundling them into mortgage-backed securities, which are then sold to investors on the secondary market. [&hellip
The post Why Your Mortgage May Get More Expensive first appeared on The Truth About Mortgage.
Is There Any Correlation Between Elections and Mortgage Rates?
Seeing that itâs Election Day, I figured Iâd take a look at historic mortgage rates to see if there is any correlation between their direction and elections. Specifically, I wanted to see if there was any significant movement after an election took place, as a new Republican or Democrat (or Roseanne) could potentially sway the [&hellip
The post Is There Any Correlation Between Elections and Mortgage Rates? first appeared on The Truth About Mortgage.
Last Chance to Get a Mortgage Rate Under 4%?
At the start of each year, the financial pundits weigh in on the direction of many things for the 365 days that lie ahead, including mortgage rates. And seeing that rates began 2013 at near all-time lows, the obvious (and conservative) prediction is to say that rates will rise. Most individuals also seem to believe [&hellip
The post Last Chance to Get a Mortgage Rate Under 4%? first appeared on The Truth About Mortgage.
Mortgage Rates, Delinquencies, and Negative Equity All Drop
It sounds like we just hit the housing recovery trifecta, all in one stellar news day. The 30-year fixed fell to its lowest point on record, 3.34%, according to the latest survey from Freddie Mac. Thatâs down from 3.40% last week and 4% a year ago, not that those prior high mortgage rates were a [&hellip
The post Mortgage Rates, Delinquencies, and Negative Equity All Drop first appeared on The Truth About Mortgage.
Making the Argument for an Adjustable-Rate Mortgage
Itâs no secret that fixed-rate mortgages have dominated the mortgage market in recent years, mainly because theyâre just so darn cheap. Theyâve been breaking records left and right thanks to the bleak economic outlook and the Fedâs continued buying of mortgage-backed securities. But they arenât the only types of home loans benefiting â unfashionable adjustable-rate [&hellip
The post Making the Argument for an Adjustable-Rate Mortgage first appeared on The Truth About Mortgage.
Median 30-Year Mortgage Rates Over the Past 42 Years
Everyone knows mortgage rates are low. But just how low are they compared to historical averages, or should I say, medians? Well, fortunately John Burns of John Burns Consulting did the math for us in a recent newsletter. Currently, 30-year fixed mortgage rates for conforming mortgages sit at 3.51%, on average, per the latest Freddie [&hellip
The post Median 30-Year Mortgage Rates Over the Past 42 Years first appeared on The Truth About Mortgage.
Housing Inventory Lowest Since 2007, But Median Price Unchanged
A while back, I mentioned that it appeared as if we were running out of homes for sale, despite being just years (or days) out of the housing crisis. I was being somewhat facetious, but itâs true that there are very few homes for sale these days, at least in areas where people want to [&hellip
The post Housing Inventory Lowest Since 2007, But Median Price Unchanged first appeared on The Truth About Mortgage.
Will Higher Mortgage Rates Cripple the Real Estate Market?
Everyone seems to be thoroughly enjoying the low mortgage rate environment that has been in effect for a couple of years now. Those with existing mortgages likely already refinanced to a lower rate, while those looking to dip their toes in real estate have probably been more enthused to go ahead with the purchase. This [&hellip
The post Will Higher Mortgage Rates Cripple the Real Estate Market? first appeared on The Truth About Mortgage.