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 that interest rate, possibly in smaller, fine print. But why? Well, one is the mortgage [&hellip
The post Mortgage Rate vs. APR: What to Watch For first appeared on The Truth About Mortgage.
We’re all looking for an angle, especially if itâll save us some money. Whether itâs a stock market trend, a home price trend, or a mortgage rate trend, someone always claims to have unlocked the code. Unfortunately, itâs 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.
Everyone likes a discount, right, even if itâs on a small one-time purchase that equates to a nominal amount. For one reason or another, it just feels like a win. Itâs obviously even sweeter if you get a discount on a big-ticket item, as the savings will be much larger. Better yet, how about a [&hellip
The post 10 Mortgage Lenders to Consider for the Best Mortgage Rates (and Fees!) first appeared on The Truth About Mortgage.
It’s that time again, where I take a look at a pair of popular mortgage programs to determine which may better suit certain situations. Today’s match-up: “15-year fixed mortgage vs. 30-year fixed mortgage.” As always, there is no one-size-fits-all solution because everyone is different and may have varying real estate and financial goals. For example, [&hellip
The post 15-Year Fixed vs. 30-Year Fixed: The Pros and Cons first appeared on The Truth About Mortgage.
If youâre scratching your head wondering why home prices continue to go up and up, consider the fact that itâs actually cheaper now than it was a year ago. Itâs 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.
Mortgage Q&A: âHow to get a wholesale mortgage rate?â Wholesale mortgage rates tend to be considerably cheaper than their retail counterparts, though it’s never a guarantee with so many lenders out there these days. To get your hands on one, you need to shop for your home loan with a mortgage broker, who has access [&hellip
The post How to Get a Wholesale Mortgage Rate first appeared on The Truth About Mortgage.
Mortgage match-ups: “Mortgage rates vs. the stock market.” With all the recent stock market volatility, you may be wondering what effect such events have on mortgage rates. Do mortgage rates go up if stocks go down and vice versa? Or do they move in relative lockstep? Let’s find out! Stocks and Mortgage Rates Follow the [&hellip
The post Mortgage Rates vs. the Stock Market first appeared on The Truth About Mortgage.
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 Macâs weekly survey. Freddie Mac Chief Economist Sam Khater noted in the weekly news release that mortgage rates have been under pressure [&hellip
The post Donât Freak Out About the Recent Mortgage Rate âSpikeâ first appeared on The Truth About Mortgage.
I thought it would be helpful to create a post that answers a lot of top “mortgage questions” that consumers tend to ask in one convenient place. You should know the answers to all of these questions if you’re serious about getting a mortgage and ready to buy a home. Additionally, you might be better [&hellip
The post 21 Mortgage Questions You Should Know the Answer To first appeared on The Truth About Mortgage.
If youâve been researching mortgages, or are in the process of taking out a home loan, youâve probably come across the term âimpoundsâ or âescrows.â When you hear these seemingly scary words, the loan officer or mortgage broker is referring to an impound account, also known as an escrow account. You may even be told [&hellip
The post Mortgage Impounds vs. Paying Taxes and Insurance Yourself first appeared on The Truth About Mortgage.