The Federal Reserve raised the fed funds rate to a quarter percentage point, now between 0.75% to 1.00%. Forget the stock market, which has shrugged off Fed chair Janet Yellen’s announcement last Wednesday. What’s on everyone’s mind is how this latest development will affect consumer finance Read more
Purchase Mortgage Battle: 30-Year FRM vs 5/1 ARM
Both the 30-year fixed-rate mortgage and 5/1 adjustable-rate mortgage are payable in 30 years. That’s their only common ground; both loans are structured differently because of their interest rate type. Surely, the 30-year FRM has its strengths (and weaknesses) as does the 5/1 ARM. Which purchase Read more
Mortgage Rates Rise So Do Mortgage Applications
With the rise of mortgage rates comes a higher volume of mortgage applications, latest weekly surveys made separately by Freddie Mac and the Mortgage Bankers Association confirmed. On the mortgage rate side, the 30-year fixed mortgage rate increased for the first time this 2017. Meanwhile, mortgage Read more
Mortgage Rates Are Low Again, Should You Refinance?
As of January 19th, the 30-year mortgage rate averaged 4.09% from the prior week’s 4.12%. The results of Freddie Mac’s latest weekly survey on mortgage rates mark the second week they’ve dipped lower. And when rates are low, the question of refinancing is in order. Will rates remain low to merit a Read more
Rates Drop for the First Time After Elections
Brexit caused a celebration for the US housing market, bringing down mortgage interest rates to near historic lows and making homeownership available to American homebuyers more than ever. However, another market reaction spurred a surge in rates. After the phenomenal Brexit last July, the results Read more
