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2016 Mortgage Rates, Housing Trends, and the Economy

November 03, 2016 2016 mortgage rates, housing trends, and the economy

If you’re thinking about buying a new home or refinancing the one you already have, it’s a good thing you’re reading this blog. As we near the end of 2016, we’ve got plenty of facts and figures to report about home sales, mortgage rates, and the state of the economy. So, let’s jump right into […]

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Is It OK To Retire With a Mortgage?

October 22, 2014 Discuss your mortgage retirement plan with a professional lender. Whether or not to keep a mortgage in retirement is dependent on your financial situation.

When you dream about retirement, you imagine more time with family, for yourself, and a chance to take longer vacations. With proper financial planning, these scenarios can be a reality. Many approaching retirement wonder how they will manage mortgage payments with a drop in their income and rising healthcare costs. Yet many people retire with a […]

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What Older Mortgages Mean to New Homebuyers

October 10, 2014 How do new mortgages affect new homebuyers?

A few weeks ago, mortgage applications were on the rise. Reuters reported a 7.9% increase in purchase and refinancing applications in the second week of September, revealing more activity among homebuyers and homeowners in the process of securing a new mortgage. The latest figures, though, reveal the average age of mortgages has hit a record high. Despite the […]

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How First-Time Homebuyers Should Respond to Higher Rates

October 03, 2014 post1

Despite small dips in recent weeks, mortgage interest rates are up. Halfway through September, the average 30-year fixed rate spiked, jumping from 4.12% to 4.23%, the highest it’s been since May. Up until that point, rates were pretty steady, fluctuation slight. By the middle of last week, rates had decreased slightly, but they remain high, […]

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7 Strategies for Securing a Lower Mortgage Interest Rate

September 09, 2014 post

Buying a new home is a big investment for anyone, both in terms of finances and the time involved. One challenge many homebuyers face is how to get a lower mortgage interest rate. Landing a lower rate impacts your future savings. Here are seven strategies to help you reach your goal. 1. Improve Your Credit […]

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Should You Switch from a 30-Year to a 15-Year Mortgage?

October 07, 2013 15-year mortgage

Mortgage rates are down for the fourth week running, putting interest rates at lows not seen since May. And the recent government shutdown has raised just enough concern about the impact on the economy to bring mortgage rates down even further. The going rate on a 15-year mortgage is hovering well below 4%. So should […]

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APR vs. Interest Rate: What’s the Difference?

March 04, 2013 Percentage Rate

Many people may use these two terms interchangeably, but interest rate and APR actually serve as two different functions. The short explanation is that the interest rate is the starting point in what you will pay for a mortgage loan, while the APR is the rate plus any associated fees. Definitions: Interest Rate: An interest […]

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