Have you seen where mortgage rates have been lately? One day they go down a little. The next day, they go back up again. It can feel confusing and even frustrating if you’re trying to decide whether now’s a good time to buy a home. Take a look at the graph below. It uses data from Mortgage News ... » Learn More about What You Can Do When Mortgage Rates Are a Moving Target
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Mortgage Rates Drop to Lowest Level in over a Year and a Half
Mortgage rates have hit their lowest point in over a year and a half. And that’s big news if you’ve been sitting on the homebuying sidelines waiting for this moment. Even a small decline in rates could help you get a better monthly payment than you would expect on your next home. And the drop ... » Learn More about Mortgage Rates Drop to Lowest Level in over a Year and a Half
Locking In The Mortgage Rate
One of the most important financial considerations of buying a new home is the interest rate paid on the mortgage. Over time, a higher interest rate can add thousands of dollars to the true cost of buying the home. When interest rates are low or steady buyers have greater confidence that they will ... » Learn More about Locking In The Mortgage Rate
Why a 20% Down Payment Works Well
If you’re planning to buy a new home, you may be wondering about the down payment. Loan programs require down payments as low as 3.5% for FHA loans and there are conventional loans offering as low as 5%. While you have a lot of options, there are three strong benefits to making a 20% down payment on ... » Learn More about Why a 20% Down Payment Works Well
