March 2, 2015
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.
March 2, 2015
This month's mortgage rates are below 4%, but what should you expect for March? Should you lock or float? Full analysis, plus access to today's live rates.
February 28, 2015
A review of how credit scores work, plus access to your actual mortgage credit scores. Safe and secure. No-obligation mortgage rate quotes available.
February 27, 2015
As today's mortgage rates drop, home values begin to accelerate higher. What's ahead for U.S. housing, plus instant access to today's low rates.
February 26, 2015
Home buyers are flocking to today's new construction. Low rates have helped homes stay affordable. Market analysis plus a complimentary mortgage rate quote.
February 26, 2015
How to refinance your mortgage, plus descriptions of "special" refinance programs including HARP 2, FHA Streamline Refinance, VA IRRRL. Complimentary rate quotes available.
February 25, 2015
Home sales are rising nationwide, boosted by luxury homes, low-downpayment buyers, and ultra-low mortgage rates. Analysis and a complimentary mortgage rate quote.
February 25, 2015
The VA Loan Guaranty allows for no-money-down mortgages. More buyers are opting to make downpayments, though. Analysis, plus access to today's live rates.
February 24, 2015
Home affordability remains near a 6-year low despite today's ultra-low mortgage rates. What should buyers do? Analysis and access to complimentary mortgage rate quotes.
February 24, 2015
The FHA has changed its refinance policy on the FHA Streamline Refinance, lowering costs for refinancing households. Analysis, plus access to today's rates.
February 23, 2015
Mortgage rates climbed for the second straight week last week. What's ahead for next 7 days? Market analysis, plus complimentary rate quotes.
February 22, 2015
Another low-downpayment option is available to today's home buyers. The 97% LTV program can be used to refinance, too. Q&A plus access to live rate quotes.
February 21, 2015
Comparing the FHA 3.5% downpayment program to the Conventional 97 program which requires just 3% down. Analysis plus a complimentary mortgage rate quote.
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.
Most Popular Posts
January 23, 2015How FHA mortgage insurance premiums work, and how to cancel your monthly MIP. With the right steps, eliminate FHA MIP in 30 days or fewer.
February 23, 2015Easy-to-read HARP 2.0 mortgage guidelines with HARP mortgage rates attached. The latest news, plus live mortgage rates. Safe and secure.
November 24, 2014There are plenty of low- and zero-downpayment mortgages for today's home buyers. Analysis of the program, updated for 2014 and Q1 2015; plus, live rate quotes.
February 1, 2015Are you FHA Streamline Refinance eligible? Use this easy-to-follow format. Updated for changes to FHA MIP in 2015. Complimentary rate quotes available.
November 2, 2014Credit score requirements are dropping for the FHA mortgage. Analysis and effect on U.S. home buyers, plus today's live FHA mortgage rates.
November 28, 2014The USDA home loan program offers 100% financing, low mortgage rates, and a minuscule annual MIP payment. Check your USDA eligibility here.
February 14, 2015Validated, step-by-step instructions on accepting a cash downpayment gift a home, plus access to a "Downpayment Gift Letter". Get help and a complimentary mortgage rate quote.
December 29, 2014About the bi-weekly mortgage payment program, and whether it's an effective way to own your home faster. Analysis, plus today's live mortgage rates.