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Low mortgage rates are still helping homeowners
Mortgage rates may have jumped up for the third straight week, but rates are still relatively low. In fact, the average 30-year fixed-rate mortgage is still lower than it was a year ago. Right now you...
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Should you get a no closing cost loan?
Closing costs can add up quick and prevent you from refinancing or buying a home, but there is another option. No closing cost loans are one way to ditch out on those expenses. Of course, it’s not...
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Inside real estate: Houston, Texas
Houston real estate is currently unstoppable. “A really hot poker would be cool compared to what we have in Houston right now,” says Houston Association of Realtors (HAR) Chairman Danny Frank with...
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Is it too late for first-time homebuyers?
Low mortgage rates and relatively low home prices are making it a good time for first-time homebuyers, but there are plenty of obstacles in the way. For starters, there are fewer homes throughout the...
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Buying a home with rising rates
Rates went for quite a climb last month, which means you may need to recalculate and budget for a slightly more expensive housing market. The average 30-year fixed-rate popped up from 3.35 percent at...
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Should you refinance with rising mortgage rates?
With rapidly rising mortgage rates, the last couple of weeks have thrown refinancers off the path. According to the Mortgage Bankers Association, refinance applications dropped 15 percent this week...
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Monthly payments are on the rise
The cost of refinancing or buying a home is getting more expensive as rates rise, but both are still relatively affordable. Mortgage rates hit a 14-month high last week, which means that refinancers...
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4 percent mortgage rates are no major setback
Mortgage rates continued on their climb this week, and while the refinance window may have passed for some, it’s still a decent time to buy a home. The average 30-year fixed-rate mortgage moved up to...
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Mortgage calculator: what will $1,000 per month buy now?
Mortgage rates may be rising, but your budget is likely staying the same. The average 30-month fixed-rate mortgage recently rose to 4.14 percent. That might make it a little tougher to get the home you...
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Taking mortgage rates in stride
Mortgage rates have finally fallen back a bit, offering some relief from rising rates and giving homebuyers some hope. The average 30-year fixed-rate loan fell to 4.12 percent and the average 15-year...
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When will principal outweigh interest payments?
Perhaps one of the most frustrating parts about mortgages, in general, is that for a long time you’ll pay more in monthly interest than you will on the principal of your loan. Thankfully, that isn’t...
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Rising mortgage rates: refinance or wait?
Mortgage rates just shot up to a 2-year high, shattering the hopes of some of those who were looking to refinance. In just one week the average 30-year fixed-rate mortgage shot up almost one half of a...
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Inside real estate: Philadelphia, Pennsylvania
Not only is Philadelphia, PA, a hub for world-class art, culture, and cuisine, it’s an affordable real estate market in a big city. “You can still buy a home in Philadelphia, in the right neighborhood,...
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FHA loan: how much do I have to earn?
Recent college grads, newlyweds or those still completing their education can all benefit from a Federal Housing Administration (FHA) loan. That’s because there’s no maximum income limit for FHA...
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How the jobs report affects mortgage rates
Mortgage rates have been on a roller coaster ride for the last month, and we’re all waiting for the jobs report to see if the ride will continue. This week, rates slipped downhill, giving a little...
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Prepayment: An alternative to refinancing
Due to rising mortgage rates, many homeowners have missed out on the chance to refinance their homes. According to the latest Weekly Application Survey from the Mortgage Bankers Association (MBA),...
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Rising mortgage rates: hustle for a home
Urgency. That has been the feeling bouncing through the minds of potential homebuyers since mortgage rates started climbing. It certainly sounds like it’s time to hustle. Rates hit a 2-year high this...
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Reverse mortgage: how much money will I get?
Some cash-strapped seniors looking for a little boost in retirement income have been turning to a reverse mortgage, but how much will they actually receive each month? These loans, available to seniors...
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Mortgage rates are still at historic lows
Due to the recent hike in mortgage rates, many potential homebuyers have fled the market. In fact, rising rates are the number one concern for those looking to buy right now, according to new online...
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Inside real estate: Miami, Florida
The Miami real estate market, just like the city itself, is hot right now. But it’s not just Miamians that are interested in buying and selling in the area. Nope, the Magic City is getting plenty of...
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