Mortgage Rates vs. the Coronavirus: We Might Test New All-Time Lows

Mortgage rates can be pretty volatile. Just like stocks, they can change daily depending on what’s happening in the economy. Beyond that, mortgage rates can move based on news that doesn’t involve a report on the economic calendar, such as a jobs report, GDP, housing starts, inflation, etc. Even if there isn’t a direct financial [&hellip

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Why Are Refinance Rates Higher?

Mortgage Q&A: “Why are refinance rates higher?” If you’ve been comparing mortgage rates lately in an effort to save some money on your home loan, you may have noticed that refinance rates are higher than purchase loan rates. This seems to be the case for a lot of big banks out there, including Chase, Citi, [&hellip

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10 Mortgage Lenders to Consider for the Best Mortgage Rates (and Fees!)

Everyone likes a discount, right, even if it’s on a small one-time purchase that equates to a nominal amount. For one reason or another, it just feels like a win. It’s 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

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What Is a Streamline Refinance?

Mortgage Q&A: “What is a streamline refinance?” While qualifying for a mortgage refinance is generally a lot harder than it has been in the past (now that lenders actually care how your home loan performs), there are less cumbersome options available. In fact, many lenders offer “streamlined” alternatives to existing homeowners to lower costs and [&hellip

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United Wholesale Mortgage Now Offering FHA Loans with Rates Below 2%

The leading wholesale mortgage lender in the nation has brought the heat once again, this time offering 30-year fixed mortgage rates below 2% on FHA loans. United Wholesale Mortgage announced that borrowers can now lock in interest rates as low as 1.99% on FHA-backed loans via its popular Conquest program. The new Conquest for FHA [&hellip

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Mortgage Rates vs. Fed Announcements

File this one under “no correlation,” despite a flood of news articles claiming the Fed’s rate cut directly impacts mortgage rates. Today, the Fed cut the federal funds rate by half a percentage point to a range of 1-1.25% due to the uncertainty surrounding the coronavirus, this despite a strong U.S. economy. That sent mortgage [&hellip

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Is Refinancing Worth It?

With mortgage rates at or near record lows, a lot of existing homeowners are probably asking themselves, “Is refinancing worth it?” The problem is there’s no absolute right or wrong answer to this question, though with interest rates a lot lower than they were a year or two ago, the answer to this question will [&hellip

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It’s Taking a Really Long Time to Get a Mortgage Right Now

Similar to the increased waiting times to get a COVID-19 test these days, it’s taking an extended amount of time to get a mortgage to the finish line. The reason is simply unprecedented demand, just like those COVID-19 tests. The more people that need one, the longer the wait, period. This is the downside to [&hellip

The post It’s Taking a Really Long Time to Get a Mortgage Right Now first appeared on The Truth About Mortgage.

Why Are Mortgage Rates Different?

Mortgage rate Q&A: “Why are mortgage rates different?” Why is the sky blue? Why are clouds white? Why won’t your neighbor trim their tree branches? These are all good questions, and ones that often puzzle even the most savvy of human beings. First things first, take a look at how mortgage rates are determined to [&hellip

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Value of U.S. Housing Market Hits Another All-Time High

In the second quarter of 2020, the U.S. housing market hit an all-time high of $32.8 trillion, per The Federal Reserve’s Flow of Funds Report, as referenced in the latest Monthly Chartbook from the Urban Institute. That was up from roughly $32.4 trillion in the first quarter of 2020, thanks to an increase in home [&hellip

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