Mortgage Rates
Everything you’ve ever wanted to know about mortgage rates. And even more than that…Mortgage Lenders Now Providing Payment Relief Due to Coronavirus
HUD has announced a foreclosure and eviction moratorium for single family homeowners with FHA-insured mortgages for the next 60 days Fannie Mae has suspended foreclosure sales and borrower evictions for 60 days Freddie Mac has announced the suspension of foreclosure ... Read More »
Now More Than Ever You Need to Compare Mortgage Rates
The last two weeks have been crazy in the mortgage world. In early March, the industry celebrated as mortgage rates hit record lows. Per Freddie Mac’s weekly survey, the 30-year fixed fell to 3.29%, its lowest point since tracking began ... Read More »
No, You Aren’t Getting a 0% Mortgage Rate
At least not yet… As you probably know, the Fed slashed the federal funds rate to near-zero yesterday afternoon to prop up the economy as it contends with the growing coronavirus pandemic. If you read the headlines, you might falsely ... Read More »
The Federal Reserve Has Swooped In to Save Mortgage Rates
In light of the ongoing coronavirus outbreak, which were the Federal Reserve’s very own words, the Committee took bold action to lower the target range for the federal funds rate to 0% to 0.25%. That’s a full percentage point lower ... Read More »
So Much for the Record Low Mortgage Rates
What Happened to Mortgage Rates? They hit a record low of around 3% last week Then quickly reversed course over the past two days Now 30-year fixed mortgage rates are pricing closer to 3.5% Because lenders are too busy to ... Read More »
The Refinance Rule of Thumb
How Much Lower Should Mortgage Rates Be to Refinance? Unfortunately there is no one-size-fits-all answer Because no two loan scenarios are the same You have to factor in existing home loan details And future plans/financial objectives/tenure in home, etc. If ... Read More »
Quicken Loans CEO Doesn’t See the 30-Year Fixed Falling Below 3%
Call him a party pooper, but the CEO of top retail mortgage lender Quicken Loans doesn’t expect mortgage rates to decline any further from their new all-time lows. If anything, Jay Farner believes they will rise over the next few ... Read More »
Two Reasons Not to Refinance Your Mortgage Right Now
Yes, all the news headlines are screaming, “Refinance NOW!” The term “mortgage rates” is trending hard. And all my friends are texting me asking if they should refinance their mortgages. Ugh. This is getting silly. Sure, mortgage rates are now ... Read More »
Mortgage Rates vs. Fed Announcements
File this one under “no correlation,” despite a flood of news articles claiming the Fed’s rate cut directly impacts mortgage rates. Today, the Fed cut the federal funds rate by half a percentage point to a range of 1-1.25% due ... Read More »
Mortgage Rate vs. APR: What to Watch For
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 ... Read More »
