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 â and also because […]
Rates
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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Mortgage rates hold steady at 2.77%
The average mortgage rate for a 30-year fixed loan fell two basis points last week to 2.77%, according to Freddie Macâs Primary Mortgage Market Survey.
The post Mortgage rates hold steady at 2.77% appeared first on HousingWire.
US mortgage rates tumble to a record low â and may be headed lower – The Boston Globe
US mortgage rates tumble to a record low â and may be headed lower The Boston Globe
What Exactly Is Mortgage APR?
Mortgage interest rate and mortgage APR (annual percentage rate) while related, are not the same. Youâll see both listed for mortgages. For example, you may see a 30-year fixed-rate mortgage with an interest rate of 4.250% and an APR of 4.385%. The interest rate is the interest you pay on your home loan. The APR… Read More
The post What Exactly Is Mortgage APR? appeared first on Credit.com.
Understanding Upfront Mortgage Insurance (UFMIP)
There are a lot of costs associated with getting a government-backed home loan. The down payment and closing costs can add up to tens of thousands of dollars. But there’s one cost you need to prepare for, the upfront mortgage insurance premium (UFMIP). This article will look at what upfront mortgage insurance is, the rate […]
The post Understanding Upfront Mortgage Insurance (UFMIP) appeared first on The Lenders Network.
FHA Loan Requirements for 2021
Are you in the market for a new home but have very little to put down or less than perfect credit? An FHA loan may be worth considering as they have more lax qualification criteria…
The post FHA Loan Requirements for 2021 appeared first on Crediful.
Working with Mortgage Brokers: Tips and Advice
The process of finding and buying a home can be complicated and stressful, but you don’t have to go it alone. A real estate agent can help you to find the right house; a mortgage broker can help you get the best deal. Everyone understands what the former does and why they need them, but many first-time buyers often […]
Working with Mortgage Brokers: Tips and Advice is a post from Pocket Your Dollars.