Category: Mortgage Rates

June 25, 2021 Marcus Terry 0 Comments

If you’re scratching your head wondering why home prices continue to go up and up, consider the fact that it’s actually cheaper now than it was a year ago. It’s also less expensive to own a home today than it was back in 2019, 2018, 2008, 2007, 2006, 2005, and even during parts of 2004. [&hellip

The post Real Estate Is Red Hot Because Mortgage Payments Are Still Cheap first appeared on The Truth About Mortgage.

June 25, 2021 Marcus Terry 0 Comments

We’re all looking for an angle, especially if it’ll save us some money. Whether it’s a stock market trend, a home price trend, or a mortgage rate trend, someone always claims to have unlocked the code. Unfortunately, it’s usually all nonsense, or predicated on the belief that what happened in the past will occur again [&hellip

The post When Are Mortgage Rates Lowest? first appeared on The Truth About Mortgage.

June 25, 2021 Marcus Terry 0 Comments

You’ve seen the headlines – mortgage rates have jumped from recent all-time lows. And they’re seemingly on an upward spiral that can’t be stopped. Except, they’ve actually seen some improvement over the past few days, thanks in part to the recent stock market rout, coupled with an easing in the 10-year bond yield. Still, the [&hellip

The post Higher Mortgage Rates May Exacerbate Already White-Hot Housing Market first appeared on The Truth About Mortgage.

June 24, 2021 Marcus Terry 0 Comments

To mortgage folk across the country, it’s an age-old question: “Lock or float?” It’s a question loan officers and mortgage brokers get asked on a daily basis, often over and over again by panicked borrowers and first-time home buyers. And it might just be the most important answer a homeowner will come up with during [&hellip

The post Locking vs. Floating Your Mortgage Rate first appeared on The Truth About Mortgage.

June 24, 2021 Marcus Terry 0 Comments

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 Mac’s weekly survey. Freddie Mac Chief Economist Sam Khater noted in the weekly news release that mortgage rates have been under pressure [&hellip

The post Don’t Freak Out About the Recent Mortgage Rate ‘Spike’ first appeared on The Truth About Mortgage.

June 24, 2021 Marcus Terry 0 Comments

It’s looking like it could be a really good summer for mortgage rates, after a very uncertain spring made it appear as if the best we had seen was gone forever. Now this isn’t to say that mortgage rates will hit all-time record lows again, but the fact that they’re slipping back to those levels, [&hellip

The post Why It Could Be a Great Summer for Mortgage Rates first appeared on The Truth About Mortgage.

June 24, 2021 Marcus Terry 0 Comments

Loyalty? Not in the mortgage business. That is, if you actually want to save money on your home loan. A few years back, an HSBC survey revealed that 52% of U.S. homeowners “switched providers” (sorry, they’re British) when obtaining subsequent mortgages. This was mainly driven (53%) by the desire to get a better deal, aka [&hellip

The post Why You May Want to Switch Mortgage Companies first appeared on The Truth About Mortgage.

June 24, 2021 Marcus Terry 0 Comments

Just when you thought all hope was lost, mortgage rates appear to be going down again. It’s been a very tough start to 2021 with regard to mortgage rates, as the popular 30-year fixed climbed from around 2.75% to 3.35% in the span of about 60 days. This was clearly an unwelcome development for both [&hellip

The post Are Mortgage Rates Going Down Again? first appeared on The Truth About Mortgage.