Will mortgage rates fall again after this week’s Fed meeting?
Editor’s note: This article was originally published on June 10, 2020, and updated on July 28, 2020, with the latest Fed forecasts Don’t wait on the Fed for lower mortgage […]
Editor’s note: This article was originally published on June 10, 2020, and updated on July 28, 2020, with the latest Fed forecasts Don’t wait on the Fed for lower mortgage […]
Similar to the increased waiting times to get a COVID-19 test these days, itâs taking an extended amount of time to get a mortgage to the finish line. The reason is simply unprecedented demand, just like those COVID-19 tests. The more people that need one, the longer the wait, period. This is the downside to [&hellip
The post Itâs Taking a Really Long Time to Get a Mortgage Right Now first appeared on The Truth About Mortgage.
Thanks to another year of stellar home price appreciation, the 2021 conforming loan limit will increase to $548,250, per the Federal Housing Finance Agency (FHFA). This is the maximum loan amount for mortgages that can be acquired by Fannie Mae or Freddie Mac, known as conforming mortgages. The figure is up from $510,400 for mortgages [&hellip
The post 2021 Conforming Loan Limit Rises to 8,250 first appeared on The Truth About Mortgage.
Want to list your house soon? According to a new study, homes listed in April and May sell the fastest and bring in the most profits.
Millions of CARES Act mortgage forbearance plans are set to end in September and October Should you extend your forbearance plan or exit?
Queue the panic. Mortgage rates have officially spiked and the media is all over it. Yep, the average rate on a 30-year fixed mortgage increased from 2.65% to 2.79% this week, per Freddie Macâs weekly survey. Freddie Mac Chief Economist Sam Khater noted in the weekly news release that mortgage rates have been under pressure [&hellip
The post Donât Freak Out About the Recent Mortgage Rate âSpikeâ first appeared on The Truth About Mortgage.
While 30-year fixed mortgage rates tend to steal all the headlines, 15-year fixed mortgage rates quietly reached record lows this week as well, per Freddie Macâs weekly survey. This morning, Freddie announced that the 30-year fixed fell to a new record low 2.65%, down from 2.67% last week. That was the first record low of [&hellip
The post 15-Year Fixed Mortgage Rates Just Hit Record Lows: Should You Consider One? first appeared on The Truth About Mortgage.
You may want to buy that house soon. As one expert says: âThis spring homebuying season may be the last affordable one in a while.â
Tons of people are moving during coronavirus. Home buying numbers are up 21% from last year. Considering a move? Here’s what to know.
You were all set to buy that new car or house. You may have even picked out the cherry-red convertible or the Cape Cod with the spacious yard — until your bank stopped you in your tracks.
Your loan has been denied, and now you’re not sure what to do.
It’s a pretty common scenario, and unfortunately, there isn’t always a quick solution.