Renting

Mortgage and refinance rates today, January 12, 2021

Today’s mortgage and refinance rates  Average mortgage rates held steady yesterday. And that was a pleasant surprise because they’d looked likely to rise again first thing — and also because […]

Mortgage denial stats by race: What we can learn

A recent report showed racial divides in mortgage approval and denial. We look closer at the data to see why, and how anyone can improve their chance of mortgage success.

Mortgage Rates Find Some Support After an Ugly Start

Mortgage rates were off to a very bad start this morning, but recovered a portion of what they lost by the end of the day. The specifics depend greatly on the lender in question. Sadly, few if any lenders are still able to offer the rates seen yesterday. To make matters worse, yesterday’s rates were already significantly higher than those seen just one week prior. But how about a big silver lining? One week prior to yesterday, the average lender was offering all-time low mortgage rates. So being “significantly higher” than that still hasn’t been enough to move the average top tier conventional 30yr fixed quote up to 3%. Before covid, 3.125% was the lowest ever 30yr fixed rate! If you’re in the purchase market, 2.75% is still common (2.875% for refis). Lenders continue to be widely stratified

MBS Day Ahead: Defensive Shift is a Cause For Concern; Yields Struggling With an Important Floor

Posted To: MBS Commentary

The GA senate election shift is old news. It did the damage it was always likely to do, but bonds had a good show of support by the end of the following week. That made good enough sense considering the pandemic is driving the market and the pandemic can't be quickly defeated. But it's worth noting that the pandemic is also driving central bank policy, and when those policies are tweaked–even subtly–bonds can and will reac t. This morning's change to the ECB's PEPP is the latest example. If you didn't click the link above, the nutshell version is this: the European Central Bank made a subtle change to its pandemic relief bond buying program that COULD mean it will buy slightly less than the maximum amounts. When these programs are initially announced, markets account for…(read more)

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The Case for Renting: Homeownership Isn’t for Everyone

Although owning is nearly twice as affordable as renting, monthly payments alone don’t tell the full story.

US mortgage rates tumble to a record low — and may be headed lower – The Boston Globe

US mortgage rates tumble to a record low — and may be headed lower  The Boston Globe

Mortgage Loan To Value (LTV) Overview

The mortgage’s Loan To Value (LTV) is a key indicator of the lender’s ability to recover on its investment should a loan default occur. The Loan To Value (LTV) is the loan amount divided by the value of the property. The higher the Loan To Value ratio, the greater the monetary risks for the lender should a default occur. Lenders use the LTV ratio in conjunction with other key performance indicators (e.g. FICO Credit Score values and Debt to Income (DTI) ratios) to determine……

VA Cash-Out Refinance: Is It a Good Idea? | Rates & Guidelines 2021

The VA cash-out refinance program enables veterans and active-duty service members to tap into their home’s equity and, depending on current refinance interest rates, lower their interest rate at the […]

Mortgage Rates vs. the Stock Market

Mortgage match-ups: “Mortgage rates vs. the stock market.” With all the recent stock market volatility, you may be wondering what effect such events have on mortgage rates. Do mortgage rates go up if stocks go down and vice versa? Or do they move in relative lockstep? Let’s find out! Stocks and Mortgage Rates Follow the [&hellip

The post Mortgage Rates vs. the Stock Market first appeared on The Truth About Mortgage.

Is Refinancing Worth It?

With mortgage rates at or near record lows, a lot of existing homeowners are probably asking themselves, “Is refinancing worth it?” The problem is there’s no absolute right or wrong answer to this question, though with interest rates a lot lower than they were a year or two ago, the answer to this question will [&hellip

The post Is Refinancing Worth It? first appeared on The Truth About Mortgage.