Recent News

Mortgage Rates Today

Current mortgage rates and mortgage market movement. Today's mortgage rates and mortgage news. Live rate quotes available. News and data provided by MBSQuoteline, a real-time mortgage market data service available to loan officers, real estate agents, and other finance professionals.

Your Mortgage Rate Strategy For This Week’s FOMC Meeting

The Fed adjourns from a 2-day meeting Wednesday. The Fed doesn't set your mortgage rates but it influences them. Consider locking in now -- before rates rise.

Pending Home Sales Index Stays Above 100 Amid Low Mortgage Rates, Strong Demand

National Association of Realtors® uses its contract data to forecast another strong month for housing. Analysis plus live mortgage rates.

Mortgage Rate Forecast (FHA, VA, USDA & Conv.) Plus Weekly Calendar

Mortgage rates are lower-than-expected. Analysis of this week's action including the FOMC meeting and jobs data. Live rates available.

Minimum Credit Score For FHA Loans Drops 40 Points

Credit score requirements are dropping for the FHA mortgage. Analysis and effect on U.S. home buyers, plus today's live FHA mortgage rates.

6 Untrue Things People Say About FHA Mortgages & FHA Mortgage Rates

FHA rates are often lower than comparable conventional loans, and approvals can be easier to get. Here's how to pre-apply and get approved for an FHA home loan.

New Home Supply In “Seller’s Market” Territory; Home Prices Rise

The lowest mortgage rates in 12 months have helped keep new construction home affordable. Builders control the market, but buyers can still get deals. Analysis and an instant rate quote.

FHA HAWK Program: “Homeowners Armed With Knowledge” Get FHA MIP Reductions

About the FHA Homeowners Armed With Knowledge (HAWK) program and how it works. Get lower FHA MIP rates plus today's live rate quotes.

Home Values Reach 73-Month High As Mortgage Rates Drop To 3s

Home values are climbing as mortgage rates drop. What's ahead for U.S. housing, plus instant access to today's low rates.

30-Year Mortgage Rates At 4.13%; 15-Year Mortgage Rates Now 3.26%

As mortgage rates, payments drop with them. Analysis of today's mortgage rates, plus live rate quotes for a wide mix of products.

Median Days On Market Down 44% Since December; Are Home Sellers In A Panic?

Very-low mortgage rates and "scared sellers" have U.S. homes selling more quickly. What it means for buyers, plus today's live mortgage rates.

How Much Home Can You Afford At Today’s Mortgage Rates?

There are two widely-accepted ways to calculate your maximum home purchase price. What you need to know about both methods, plus today's live mortgage rates.

Existing Home Sales Rise In June, Aided By Low Mortgage Rates And Looser Mortgage Guidelines

Home sales are rising nationwide, boosted by luxury homes and low-downpayment buyers. Analysis, plus a live look at today's mortgage rates.

VA Streamline Refinance: About The VA IRRRL Mortgage Program & VA Mortgage Rates (Updated For August 2014)

Updated: Explanation of the VA mortgage loan program including Q&A, the VA Streamline Refinance (IRRRL), and today's VA mortgage rates.

U.S. Housing Starts Fall To Lowest Levels In 20 Months; Builders Still Raising Prices

Housing starts drop for third straight month. What it means for buyers and the future of new construction. Analysis and live mortgage rates.

Looking for low mortgage rates today? You're not alone. Millions of U.S. consumers shop for mortgage rates annually. Some get the lowest mortgage rates available and others overpay.

Shopping for a mortgage can be a challenge. This is because mortgage rates change all day, every day. Plus, there's no formula to show where rates will go next.

Mortgage rates can change up to 5 times daily, reacting to world news, economic events, and Wall Street sentiment. The rates you see from a lender in the morning are rarely the same rates that you'll see in the afternoon. And, certainly, by the next morning, mortgage rates have changed again.

Read More

As mortgage rates have dropped since 2009, tens of millions of U.S. homeowners have refinanced their homes. To "refinance" is to replace your current mortgage with a new one -- often one with a lower mortgage rate.

Refinances come in three main varieties -- the cash-out refinance, the cash-in refinance, and the rate-and-term refinance.

With a cash-out refinance, a homeowner converts home equity into cash, with no restrictions on how the cash is used. Some homeowners use cash-out mortgages to pay for home repairs; or, to pay for a college or post-graduate education; or, to fund downpayments for a future home purchase.

Cash-in refinances are the opposite of cash-out refinances. With cash-in refinances, homeowners lower the amount owed on the home -- often to eliminate mortgage insurance or to get access to lower mortgage rates. Less than 5 percent of all refinances are of the cash-in variety.

The most common refinance type, then, is the rate-and-term refinance.

In a rate-and-term refinance, the homeowner lowers its loan's current mortgage rate; shortens its loan's term (i.e. length in years); or, does both. An example of a rate-and-term refinance is lowering your mortgage rate from 6% to 4%.

Rate-and-term refinances are available for all loan types, and some versions are "branded", as with the FHA Streamline Refinance and VA Streamline Refinance (IRRRL) programs. The Home Affordable Refinance Program (HARP) is also a rate-and-term refinance program.

At today's mortgage rates, the typical refinancing homeowner can reduce monthly payments by one-fourth.

Banks are making it easier to get approved for a mortgage today, which is great news for US. home buyers. Low- and no-downpayment mortgages are more abundant than during any period in the last 10 years; and, mortgage rates today are lower than they've been in history.

For buyers with a budget and a plan, buying a home has never been easier.

Home shoppers who want to make the smallest downpayment possible have access to the VA loan and the USDA loan -- both of which allow for 100% financing. Backed by the Department of Veterans Affairs and the U.S. Department of Agriculture, respectively, these programs require no downpayment whatsoever and provide flexible approval standards for eligible buyers.

Today's buyers also have access the FHA mortgage which requires just 3.5% down. The FHA is the world's largest insurer of mortgage loans and mortgage rates for FHA mortgages rival the mortgage rates offered on conventional loans backed by Fannie Mae or Freddie Mac.

Meanwhile, for buyers making a downpayment of twenty percent or more, mortgage options are plentiful, including access to construction loans for financing home improvements.

First-time buyers, repeat buyers, and real estate investors are benefiting from today's low mortgage rates and access to a wide array of products.

Get Your Very Latest Rate Quote Now!