How Are Mortgage Rates Determined? – NextAdvisor
How Are Mortgage Rates Determined? NextAdvisor
mortgage points
What Are Typical Refinance Closing Costs?
When mortgage interest rates decrease, many homeowners start to wonder whether they should refinance their existing mortgages to get a lower rate or a different loan term. However, the additional closing costs you pay when refinancing can sometimes make refinancing more expensive in the long run. In some cases, the amount of interest youâll save […]
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How to Get a Wholesale Mortgage Rate
Mortgage Q&A: âHow to get a wholesale mortgage rate?â Wholesale mortgage rates tend to be considerably cheaper than their retail counterparts, though it’s never a guarantee with so many lenders out there these days. To get your hands on one, you need to shop for your home loan with a mortgage broker, who has access… Read More »How to Get a Wholesale Mortgage Rate
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Lender Credits: The Opposite of Paying Points on Your Mortgage
Mortgage Q&A: âWhat is a lender credit?â If you’ve recently been shopping mortgage rates, whether for a new home purchase or a mortgage refinance, you’ve likely come across the term âlender credit.â Let’s learn more about what it is, how it works, and why it can save you money, or conversely, cost you money via… Read More »Lender Credits: The Opposite of Paying Points on Your Mortgage
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Mortgage APR: Why It’s More Important Than Just Looking at the Mortgage Rate
It’s time for another mortgage match-up: “Mortgage rate vs. APR.” If you’re shopping for real estate or looking to refinance, and you’ve seen a certain mortgage rate advertised, you may have noticed a second, similar percentage adjacent to or below that interest rate, possibly in smaller, fine print. But why? Well, one is the mortgage… Read More »Mortgage APR: Why It’s More Important Than Just Looking at the Mortgage Rate
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Could a 50-Year Fixed Mortgage Finally Solve the Affordability Crisis?
With mortgage rates nearly double what they used to be, you might wonder if an alternative product like a “50-year mortgage” could improve affordability. Yes, I said 50 years, thatâs not a typo. A full 20 years longer than the typical 30-year loan term most of us are used to. It’s not just a pipedream.… Read More »Could a 50-Year Fixed Mortgage Finally Solve the Affordability Crisis?
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What Are Seller Concessions?
Now that the housing market is turning in favor of home buyers, the phrase âseller concessionsâ might become a lot more common. Over the past decade, home sellers have had the upper hand, often unloading their properties above list price. In many cases, home buyers were forced to enter bidding wars, assuming they were lucky… Read More »What Are Seller Concessions?
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Watch Out for 8% Mortgage Rates
Now that interest rates have resumed their upward climb, do we have to worry about 8% mortgage rates next? Back in July, I questioned if 7% mortgage rates were on the horizon, given the steady rise seen at that time. While rates hadnât officially hit 6% then, by Freddie Macâs measure at least, they were… Read More »Watch Out for 8% Mortgage Rates
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Are Mortgage Rates Going to 8.5% Next?
The year 2022 has been absolutely dreadful with respect to mortgage rates. Weâve seen the popular 30-year fixed rise from sub-3% levels to around 7% in the matter of about 10 months. And despite that unprecedented increase, the worse may be yet to come. Thatâs if you buy into the latest remarks from National Association… Read More »Are Mortgage Rates Going to 8.5% Next?
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Why Do Mortgage Lenders Charge Points
Thereâs been a recent phenomenon where mortgage lenders are requiring borrowers to pay upfront points when obtaining a home loan. This runs counter to the typical experience where you can easily acquire a no cost loan with no points or closing costs required. As to why this is happening, itâs basically because the mortgage market… Read More »Why Do Mortgage Lenders Charge Points
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