These days, it seems as if we can insure just about anything. While this may be perceived as âgreat news!â by overzealous insurance agents, for individual consumers itâs just more money down the drain. After all, paying for insurance always feels like a chumpâs game until you actually need to file a claim, which never [&hellip
The post Mortgage Insurance vs. Homeowners Insurance first appeared on The Truth About Mortgage.
Over the years, Iâve seen tons of ads and articles about a so-called âmortgage trick,â only to click on the associated hyperlink and see nothing regarding any tricks. Talk about disappointing. For the record, Iâm always interested to see what someone might have up their sleeve, which is why I continue to click year after [&hellip
The post There Is No Mortgage Trick first appeared on The Truth About Mortgage.
Yes, all the news headlines are screaming, âRefinance NOW!â The term âmortgage ratesâ is trending hard. And all my friends are texting me asking if they should refinance their mortgages. Ugh. This is getting silly. Sure, mortgage rates are now at new all-time highs, but hang on a second. Letâs catch our collective breath and [&hellip
The post Two Reasons Not to Refinance Your Mortgage Right Now first appeared on The Truth About Mortgage.
Maybe thereâs some good news out there, or maybe itâs just the calm before another storm. The mortgage forbearance rate barely budged during the week ending May 10th, per the latest installment of the Forbearance and Call Volume Survey from the Mortgage Bankers Association (MBA). The group said the total number of loans in forbearance [&hellip
The post Mortgage Forbearance Rate Only Rises 3% From a Week Ago, But Second Wave Could Be Coming first appeared on The Truth About Mortgage.
Should you stay or should you go? Think twice before packing up and moving to a new place.
It’s time for another mortgage match-up: “Mortgage rates vs. unemployment.” When it comes to making or saving money, everyone wants to be able to predict the future. After all, if you know whatâs coming next, there are plenty of great ways to capitalize. For homeowners, good timing or a penchant for fortunetelling can result in [&hellip
The post Mortgage Rates vs. Unemployment first appeared on The Truth About Mortgage.
A new report from Black Knight revealed that prepayment activity (early payoff of a mortgage) has been surging thanks to the precipitous drop in mortgage rates. It has more than doubled in just the past four months alone, and is now at its highest level since late 2016. The biggest driver has been homeowners with [&hellip
The post Homeowners with Year-Old Mortgages Are Refinancing Like Crazy first appeared on The Truth About Mortgage.
Quick mortgage tip: âHow do I know if Fannie Mae or Freddie Mac owns my mortgage?â One of the key requirements to getting approved under the CARES Act to receive mortgage forbearance is ensuring that your loan is indeed owned or guaranteed by Fannie Mae or Freddie Mac. If it isn’t, you might still be [&hellip
The post How Do I Know If Fannie Mae or Freddie Mac Owns My Mortgage? first appeared on The Truth About Mortgage.
The mortgage forbearance rate increased again last week, rising to 7.91% from 7.54% a week earlier, per the Mortgage Bankers Association (MBA). That marked the smallest weekly increase (4.91%) since the newly-created Forbearance and Call Volume Survey was launched, but itâs important to remember it was only 0.25% back in March. Additionally, the weekly gains [&hellip
The post Mortgage Forbearance Rate Up Near 8%, Housing Assistance Fund Proposed first appeared on The Truth About Mortgage.
Bye Bye Britain Well, the unthinkable happened early this morning (or late last evening depending on where you live). The UK voted to leave the European Union, agreeing to Brexit instead of Bremain, as they say. So hold onto your cup of tea, itâs gonna be a bumpy ride. The initial reaction was one of [&hellip
The post Brexit vs. Mortgage Rates: How Low Might They Actually Go? first appeared on The Truth About Mortgage.