The average 30-year fixed-rate mortgage (FRM) has hit 3.02% after falling throughout most of 2020, according to Freddie Mac’s Primary Mortgage Market Survey. This is the first time the 30-year FRM has surpassed 3% since July and the fifth straight week it has climbed or remained stable. Freddie Mac chief economist Sam Khater also noted … [Read more…]
Mortgage match-ups: “Mortgages vs. inflation.” While inflation has been kept mostly in check lately as the economy has limped along, many economists expect it to rise significantly in coming years as things get back on track. At the moment, both inflation and interest rates are very low because the economy is in the dumps, but [&hellip
The post Mortgages vs. Inflation first appeared on The Truth About Mortgage.
Itâs time to take a look at how COVID-19 could impact home prices given the massive disruption to the local, state, national, and global economy. On the one hand, inflation is expected due to all the government spending, which could lead to a price increase since real estate often acts as an inflation hedge. Conversely, [&hellip
The post Home Prices vs. COVID-19: Will They Go Up or Down? first appeared on The Truth About Mortgage.
Your debt-to-income ratio is one of the most important numbers tied to your finances. As far as lenders are concerned, itâs not as important as your credit score, but it could still determine whether you get a mortgage or an auto loan and it can also tell you how far into the red you are […]
The Ultimate Debt-to-Income Ratio Calculator is a post from Pocket Your Dollars.
The current solution for those struggling to make mortgage payments due to COVID-19 is mortgage forbearance. It allows homeowners to âpauseâ mortgage payments for anywhere from six to 12 months while their income is reduced or completely nonexistent. Once it comes to an end, the homeowner must repay the missed payments, either by making a [&hellip
The post Could a Cash Out Refinance Be a Better Solution Than Mortgage Forbearance? first appeared on The Truth About Mortgage.
Weâre living in a throwaway society hellbent on spending money we donât have for things we rarely need, and this attitude has led to a lifetime of debt for millions of Americans. Credit cards are at the epicenter of this issue and have contributed billions of dollars to Americaâs rapidly escalating debt crisis. The average […]
Credit Card Debt and How to Fix It is a post from Pocket Your Dollars.
You may have already read the headlines. Things like Trump-fueled Treasury surge and the so-called Trump Effect, all driving mortgage rates higher. And itâs not just fodder, itâs true. Since the election results came in last Tuesday night, mortgage rates have been on an upward tear, which clearly isnât good news for those looking to [&hellip
The post President-Elect Trump vs. Mortgage Rates first appeared on The Truth About Mortgage.