U.S. mortgage rates fell for a fifth week, reducing borrowing costs as home-price gains slow. The average rate for a 30-year fixed mortgage was 4.12 percent this week, down from 4.14 percent and the lowest since October, Freddie Mac said in a statement on Thursday. The average 15-year rate slipped… read more →
Banks are getting very cautious about home mortgage loans these days — right up to the closing date. Even consumers with good credit and plenty of cash may find themselves out on the sidewalk if any of these last-minute loan application issues pop up. To make sure you’re on the right end… read more →
A lot of attention has been paid to the fact that mortgage rates are expected to rise throughout 2014. As mortgage rates creep upward in this year, borrowers need remember that rates will still be historically low and nowhere near the interest rates consumers faced in the early 1980s. Four… read more →
When thinking about your New Year’s resolutions, don’t forget to include a few items related to your home and finances. An annual evaluation will help you make sure you’re taking care of your property properly. Check Up on Your Homeowners Insurance Check the limits of your coverage to make sure… read more →
An improving housing market is great for the economy but not necessarily for first-time homebuyers. According to studies, mortgage rates rose from 3.49 percent in May up to 4.69 percent in August. While rising mortgage rates certainly make transactions more expensive, they shouldn’t deter your purchase. Here are five ways you can buy… read more →
The Federal Housing Administration (FHA) recently enacted a rule change allowing borrowers who have fallen into foreclosure, bankruptcy, or a short sale to become eligible for a brand new mortgage backed by the FHA in as little as one year from the date of their previous foreclosure auction, the date of closing… read more →
Beginning this week, thousands of home buyers will be unable to get approvals for their mortgages because of the government shutdown, potentially undercutting the nation’s resurgent housing market. Without paperwork from the Internal Revenue Service, the Social Security Administration and in many cases the Federal Housing Administration, banks and other… read more →
Although any home loan might be the right choice for homeowners of any age, mortgage needs change over a lifetime. Here’s a look at which loans are best-suited to different life stages, including when you’re just starting out, hitting middle age and preparing to retire. Just Starting Out Many of… read more →