Tag Archive for: Interest rates

It’s a Good Time for a Debt Consolidation Loan

When mortgage rates are at or near historic lows, like they are now, it’s a perfect time to take advantage of these low rates, consider a debt consolidation loan, and increase your buying power. At the same time, if you already have a mortgage and haven’t taken a look at refinancing lately, you might want […]

Have You Checked Interest Rates Lately?

More than a year ago when interest rates began to slowly move up after recent Federal Reserve comments indicated we can anticipate three and maybe four rate increases for 2018. That was based upon economic projections that indicated our economy was awakening from its extended slumber as job creation and the unemployment rate showed signs […]

Why Portfolio Loans are Important

There is a term in the mortgage industry called “portfolio lending” and it’s a specific type of home loan program that caters to a particular situation. Portfolio loans are so important that without it the real estate industry would suffer. What is a portfolio loan? It’s a loan that does not fit into any secondary […]

Does a Mortgage Broker Cost More? How Do They Get Paid?

There are different ways to get a new mortgage. A bank will offer a mortgage, so too will mortgage bankers. Each has its very own department that decides which loans to offer and what rates and fees to charge. A bank offers various financial services such as checking and savings accounts while a mortgage banker […]

Mortgage Rate Forecast: Should You buy Now or Wait?

It’s now closer to the time when holidays and days off are further in the rear view mirror and it’s back to the standard routine. Investors are back in the markets packing their portfolios with stocks, mutual funds and bonds and analysts are moving back in the guessing game as to the state of the […]

Top 5 Economic Reports That Can Affect Mortgage Rates

Have you ever wondered how and why mortgage lenders adjust their mortgage rates their borrowers can choose from each day? One would think it’s a lot of work to make a daily rate change, right? I mean, why doesn’t a lender just post a rate and let it stay that way for a few days? […]

Bank Statement Loans Explained

Bank Statement Loan Explained   Have you heard of a Bank Statement Mortgage? Most mortgage loans require bank statements to verify sufficient funds to close on a transaction. A complete bank statement provides third-party verification that the applicant has enough funds for a down payment, related closing costs and cash reserves all belonging to the […]

Down Payment Assistance is Here

Saving up enough money for a down payment and closing costs is typically the single biggest challenge when buying real estate, especially so for those buying their very first home. There are low down payment programs which can ask for as little as 3.5 percent down, such as the FHA program, as well as zero […]

Interest Rate Lock: What Happens When You Do, What Happens When You Don’t

I understand the interest rate market can appear to be a little jumbled sometimes. You can check out interest rates one day and then a week later they’ll be a little different, sometimes higher and sometimes lower. They can also remain the same but in most instances rates do change daily, even by a very […]

When the Fed Raises Rates: What It Means to You

When the Fed raises rates, it could affect your mortgage, especially if you have an adjustable-rate mortgage or a hybride loan.  You probably heard the Federal Reserve raised a key interest rate this week by 0.25% to 1.50%.  The Federal Funds rate may not be an everyday term consumers refer to but lenders certainly do. […]