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Mortgage Rates vs. the Stock Market

Mortgage match-ups: “Mortgage rates vs. the stock market.” With all the recent stock market volatility, you may be wondering what effect such events have on mortgage rates. Do mortgage rates go up if stocks go down and vice versa? Or do they move in relative lockstep? Let’s find out! Stocks and Mortgage Rates Follow the [&hellip

The post Mortgage Rates vs. the Stock Market first appeared on The Truth About Mortgage.

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Don’t Let Your Current Lender Talk You Out of a Mortgage Refinance

What I’ve seen and heard through the years is certain lenders not being so forthcoming with existing customers wanting to refinance their mortgage. For example, when a homeowner goes to inquire about the “awesome low rates,” their first instinct may be to pick up the phone and call the lender who gave them their current [&hellip

The post Don’t Let Your Current Lender Talk You Out of a Mortgage Refinance first appeared on The Truth About Mortgage.

Source: thetruthaboutmortgage.com

Don’t Freak Out About the Recent Mortgage Rate ‘Spike’

Queue the panic. Mortgage rates have officially spiked and the media is all over it. Yep, the average rate on a 30-year fixed mortgage increased from 2.65% to 2.79% this week, per Freddie Mac’s weekly survey. Freddie Mac Chief Economist Sam Khater noted in the weekly news release that mortgage rates have been under pressure [&hellip

The post Don’t Freak Out About the Recent Mortgage Rate ‘Spike’ first appeared on The Truth About Mortgage.

Source: thetruthaboutmortgage.com

USA Mortgage Review: #1 Mortgage Lender in Missouri?

If you live in the USA and need a mortgage, perhaps you’ve thought about applying at “USA Mortgage.” Makes sense, right? It just so happens that USA Mortgage is located right smack in the middle of our fine country, in St. Louis, Missouri to be exact. Well, that’s pretty darn close to the midpoint… Anyway, [&hellip

The post USA Mortgage Review: #1 Mortgage Lender in Missouri? first appeared on The Truth About Mortgage.

Source: thetruthaboutmortgage.com

15-Year Fixed Mortgage Rates Just Hit Record Lows: Should You Consider One?

While 30-year fixed mortgage rates tend to steal all the headlines, 15-year fixed mortgage rates quietly reached record lows this week as well, per Freddie Mac’s weekly survey. This morning, Freddie announced that the 30-year fixed fell to a new record low 2.65%, down from 2.67% last week. That was the first record low of [&hellip

The post 15-Year Fixed Mortgage Rates Just Hit Record Lows: Should You Consider One? first appeared on The Truth About Mortgage.

Source: thetruthaboutmortgage.com

Mortgage Impounds vs. Paying Taxes and Insurance Yourself

If you’ve been researching mortgages, or are in the process of taking out a home loan, you’ve probably come across the term “impounds” or “escrows.” When you hear these seemingly scary words, the loan officer or mortgage broker is referring to an impound account, also known as an escrow account. You may even be told [&hellip

The post Mortgage Impounds vs. Paying Taxes and Insurance Yourself first appeared on The Truth About Mortgage.

Source: thetruthaboutmortgage.com

When to Refinance a Home Mortgage: Now, Later, or Never?

Mortgage Q&A: “When to refinance a home mortgage.” With mortgage rates at or near record lows, you may be wondering if now is a good time to refinance. Heck, your neighbors just did and now they’re bragging about their shiny new low rate. The popular 30-year fixed-rate mortgage slipped to 2.80% last week, per Freddie [&hellip

The post When to Refinance a Home Mortgage: Now, Later, or Never? first appeared on The Truth About Mortgage.

Source: thetruthaboutmortgage.com

10 Mortgage Lenders to Consider for the Best Mortgage Rates (and Fees!)

Everyone likes a discount, right, even if it’s on a small one-time purchase that equates to a nominal amount. For one reason or another, it just feels like a win. It’s obviously even sweeter if you get a discount on a big-ticket item, as the savings will be much larger. Better yet, how about a [&hellip

The post 10 Mortgage Lenders to Consider for the Best Mortgage Rates (and Fees!) first appeared on The Truth About Mortgage.

Source: thetruthaboutmortgage.com

Why Joe Biden and Kamala Harris Haven’t Paid Off Their Mortgages

You’d think presumably wealthy politicians like Joe Biden and Kamala Harris would own their homes free and clear. But that’s not the case, per their 2019 tax returns. Both individuals disclosed their returns on the JoeBiden.com website, and each paid tens of thousands of dollars in mortgage interest last year. But why would they pay [&hellip

The post Why Joe Biden and Kamala Harris Haven’t Paid Off Their Mortgages first appeared on The Truth About Mortgage.

Source: thetruthaboutmortgage.com

Value of U.S. Housing Market Hits Another All-Time High

In the second quarter of 2020, the U.S. housing market hit an all-time high of $32.8 trillion, per The Federal Reserve’s Flow of Funds Report, as referenced in the latest Monthly Chartbook from the Urban Institute. That was up from roughly $32.4 trillion in the first quarter of 2020, thanks to an increase in home [&hellip

The post Value of U.S. Housing Market Hits Another All-Time High first appeared on The Truth About Mortgage.

Source: thetruthaboutmortgage.com