Multiple indexes, including S&P CoreLogic Case-Shiller indices and the Federal Housing Finance Agency’s House Price Index show increasing pries of home beginning to slow down.
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Category: Mortgage Market
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Mortgages: 15-Year Plans v. 30-Year Plans
We often overlook a vital question: What type of mortgage should I get? This can sometimes be the most overwhelming question possible, and it can be difficult to understand when deciding between a 15 or 30 year mortgage.
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Average Mortgage Rate Drops
Home buyers catch a break as average mortgage rates experience a slight decrease.
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How is my Mortgage Interest Rate Determined?
If you need to take out a loan, you’re going to have to pay back that loan with interest. Interest is paid in exchange for the convenience of borrowing money. It’s sort of like the price on borrowing money...
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What to Know if You’re Refinancing: How COVID-19 has Affected Mortgage Rates
Ever since the Federal Reserve slashed short term rated and pushed money into the mortgage market, interest rates have begun to stabilize at extraordinary low numbers. These low interest rates are making it a fantastic time to refinance...
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June Saw Highest Monthly Gain of Existing Homes Sales, Surging Nearly 21%
According to the National Association of Realtors, existing home sales for June surged almost 21% compared to May.
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Mortgage Rates Continue to Drop to Record Lows
Just when we thought mortgage rates were done breaking records, Freddie Mac announces that 30-year fixed rate mortgage rates have dropped to another new low.
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Housing Market is Buzzing Amidst Covid-19 Pandemic
It may be hard to admit, but the Coronavirus pandemic is going to have a harsh effect on the economy. Under normal circumstances, this would result in terrible consequences for the housing market. And yet, the opposite effect is starting to take place.
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Is the COVID-19 Pandemic Causing a Rise in New Construction Homes?
As the Coronavirus pandemic continues, financial uncertainty has unfortunately become the norm for many families. However, many homeowners may be able to catch a break through cash-out refinances. Refinancing involves...
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What is Mortgage Forbearance?
On Friday, March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act went into effect. The CARES Act was designed to provide assistance to those who have been financially affected by the COVID-19 pandemic. This includes potentially offering mortgage forbearance to homeowners.