Recent News

Mortgage Rates Drop, Discount Points Double Since 2007

It's no surprise why mortgage discount points have doubled since 2007. Banks know you better than you know yourself.

White House Expected To Announce New FHA Refinance Options Today

The White House is expected to announce new FHA mortgage options, including a reduction in MIP for certain Streamline Refinance applicants.

Mortgage Rates Responding To Rising Gas Prices?

With gas prices rising, mortgage rates for all loan types -- FHA, conventional, USDA, VA and jumbo -- should rise over the next few days.

Inflation Targeting : How It Changes Fixed Mortgage Rates And ARMs

The Federal Reserve is now setting explicit "target rates" for inflation. Inflation targeting will change how you shop for mortgages.

April 2012 : The New FHA Mortgage Insurance Premium (MIP) Schedule

The FHA will raise its mortgage insurance premiums April 1, 2012. Here is a listing of the new FHA MIP schedules.

Plunging Mortgage Rates Lower Mortgage Payments 13% In One Year

Mortgage rates are down more than 1% in the last year and mortgage payments are down 13%. The "break-even point" on today's mortgages comes relatively quickly -- even after accounting for closing costs.

The Cash-In Mortgage Refinance : Bring $1,000, Save $1,718

With Freddie Mac's published mortgage rates now sub-4 percent, homeowners are doing what it takes to refinance into today's low mortgage rates -- even if it means bringing some cash to closing.

No More No Fee? “Zero-Closing-Cost Mortgages” Face Extinction

A pending mortgage policy change threatens to end zero closing costs mortgages for good. The end of "no fee" mortgages may be here sooner than you think.

Confirmed : Mortgage Fees To Rise For Borrowers In January 2012

Start that mortgage application! The government is financing its 2012 Payroll Tax Extension via new, mandatory mortgage fees. You'll get lower mortgage payments on your upcoming purchase or refinance by applying for your loan today.

Save $45,000 Per $100,000 Borrowed With A 15-Year Fixed Rate Mortgage

Record-low mortgage rates draw refinancing households away from 30-year fixed-rate mortgages into shorter-term products such as the 15-year fixed-rate mortgage.

Revealing The Trick : Why Mortgage Rates Didn’t Actually “Fall” To 3.94%.

Freddie Mac says mortgage rates fell to 3.94% this week. But, because closing costs increased at the same time, it would take a homeowner *3 years* to break-even on these new, "lower" rates. It's a sleight-of-hand trick pulled by the banks on the American people.

Foreclosures : The Last “Great Deal” In Housing Is Endangered

The number of foreclosed homes for sale is dwindling, yet buyer demand for them surges. Remember that highly-publicized, 25% discount for buying a bank-owned home? It's about to go away. If you're looking at foreclosures, here's where to find them.

The HARP Refinance Checklist : Get HARP-Approved More Quickly

On Nov 15, the government will release the details of its new HARP refinance program. By Dec. 1, lenders will be accepting applications. Early applicants are expected to get the lowest mortgage rates.

Cash-In Mortgages : Could You Have “Gone Jumbo” Instead?

Cash-in mortgages are in demand, but are they right for you? Check your alternatives first including FHA Streamline Refinance, HARP II, and the jumbo market.

Credit Score Under 740? Prepare To Overpay On Your Mortgage.

Most people know that low FICO scores influence the mortgage rates for which they're eligible. For the past 3 years, though, they've raised closing costs, too.

Are Banks Holding Today’s Mortgage Rates Artificially High?

Mortgage rates are ultra-low these days, but they ought to be lower. Mortgage lenders may be holding mortgage rates artificially high.

Mortgage Rates Could Balloon After Wednesday Greece Outcome

It's a single-focus market, folks, and Greece is the word. If you're shopping for mortgage rates, heads-up.

What To Expect From The Revamped HARP Refinance Program

The HARP mortgage program will be revamped soon, government officials say. A lot more homeowners will be HARP-eligible. Here's what you need to know about the upcoming changes.

Buy A Foreclosed Home, Get A Great, Low Mortgage Rate

With each passing month, there are fewer and fewer foreclosures nationwide. Foreclosures are down on a year-to-year basis for the 12th straight month.

Synthetic Mortgage Rates In Printed Newspapers

The newspaper is a bad place to research for mortgage rates -- conforming, FHA, USDA or otherwise. The rates are "not real" and based on lofty assumptions.