When Should I Lock In My Mortgage?
When you’re in the process of getting a home loan, at some point you’ll have to lock in your mortgage rate. This might be months in advance, mere days before closing, or some time in between. This post...
View ArticleCredit, Home Type & Perceived Risk Affect Your Mortgage Rate
Getting an interest rate to purchase a home is similar to when you were back in school earning good grades – or not. The teacher put together many components from your test scores from your research...
View Article30-Year Fixed Mortgage Rates or ARM Rates: Which are Better Long-term?
Thirty-year mortgage rates are solidly below historic levels. Mortgage backing agency Freddie Mac reports an average rate of 4.15% for the week of July 7. Similar rates have only been available for a...
View ArticleConsumers Eternal Pessimists: 96% Bet Against Low Rates
The average mortgage consumer almost never expects lower rates. According to Fannie Mae’s monthly National Housing Survey, consumers are not very good at predicting when rates will rise or drop. Fannie...
View ArticleMortgage Rate Shopping | Best Practices 2023
Everyone tells home buyers to shop around for a mortgage loan. But comparing mortgage loans is not a simple task. It’s not oranges to oranges or apples to apples. The Federal Trade Commission tells...
View ArticleI’m Pre-Approved. Should I Worry about Rates?
Tim has been in the mortgage industry for more than 11 years as a loan originator and mortgage processor. He’s answered just about every kind of mortgage question over the years. Q: I’m pre-qualified...
View ArticleWhen Is an Adjustable Rate Mortgage (ARM) a Good Idea?
Why take an adjustable-rate mortgage (ARM)? Why not just take a fixed rate and not worry about what rates might do in the future? That’s a fair question, and a good one. Adjustable rate mortgages can...
View ArticleVA Streamline (IRRRL) Refinance Loan: Easier Refinancing for Veterans
A VA Streamline Refinance is also known as an Interest Rate Reduction Refinance Loan, or IRRRL, because it is designed to help homeowners lower their mortgage rate quickly and easily. This special...
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5-Year Fixed Mortgage Rates & Loan Programs
Fixed mortgages with shorter terms can create incredible interest savings. Not a lot of lenders offer short-term mortgage loans. The good news is you can create your own 5-year fixed-rate mortgage and...
View ArticleCurrent Mortgage Interest Rates | November 2023
The average mortgage interest rates decreased week over week — 30-year fixed rates went down (7.44% to 7.29%) as did 15-year fixed rates (6.76% to 6.67%). The number of mortgage applications increased...
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