Many home buyers switching to 10 and 15-year mortgages
Monday, January 19
If you are looking for a great deal on your next home loan, a shorter term fixed rate mortgage could be the answer. Interest rates on 10 and 15-year fixed rate mortgages are significantly lower than conventional 30-year mortgages. Homeowners who can handle the higher monthly payments can save ten...
Home purchasing power increases as 30 year mortgage rates stay low
Tuesday, January 13
Since January of last year, mortgage rates for conventional 30-year loans have dropped 0.75 percent. Averaging just 3.73 percent this week according to Freddie Mac, interest rates are nearing their lowest levels of all time. These ultra-low rates mean that home purchasing power is increased, whic...
FHA rates and MIP are lower in 2015
Thursday, January 08
This month the FHA will be reducing mortgage insurance premiums for the first time since 2001. After having to borrow $1.7 billion from the U.S. Treasury last year, things have improved dramatically over the past year. The FHA’s Mutual Mortgage Insurance fund now has a balance of over $7.8 billio...
More home buyers opting for Jumbo Loans as rates stay low
Monday, January 05
As we head into the new year, mortgage rates have dropped again. Rates are at 20-month lows of 3.87 percent for 30-year conventional mortgages according to Freddie Mac. This is the seventh week in a row for rates below 4 percent. Rates for 15-year, VA and FHA mortgages can be found even lower, wh...
VA loan rates remain lowest among all mortgage types
Thursday, December 04
If you are looking at purchasing a home or refinancing your current mortgage, now is the time to act, according to mortgage experts throughout the country. Mortgage rates have hit an 18 month low, and many lenders such as Best Rate USA are quoting rates well into the 3 percent range.According to ...
Mortgage and refinance rates are lowest in nearly two years
Thursday, November 20
Freddie Mac announced this week that 30-year conventional fixed-rate mortgage rates are now averaging 3.99 percent, the lowest they have been in 77 weeks. Lots of homeowners have been turning to 15-year loans recently, as rates can be even lower at 3.17 percent on average. These rates are the low...