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.
The FOMC’s March minutes didn’t give investors much else to munch on, resulting in a mostly sideways Wednesday for the major indexes.
Irrevocable trusts open the door to important tax strategies, but they mean the loss of control of the assets held in the trust ⦠or do they? Todayâs irrevocable trusts can be designed with some flexibility in mind.
As the economy has improved, lenders are increasingly giving auto loans to consumers with low credit scores. In a review of second-quarter automobile financing, credit bureau Experian outlined year-over-year changes in the market. Overall, outstanding loan balances increased $69 billion from the second quarter of 2012 to about $751 billion. When looking at the year-over-year risk distribution… Read More
The post More Americans With Bad Credit Are Getting Auto Loans appeared first on Credit.com.
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.
If you have had trouble getting approved for a mortgage, a credit card or a personal loan recently because your credit isn’t up to par, you aren’t alone. We get readers writing to us often about their trouble getting access to credit, but one type of loan is already opening up again to non-prime consumers… Read More
The post Why Are Auto Loans the Easiest Loans to Get? appeared first on Credit.com.
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.
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.