Whether you’re buying a home or simply refinancing, it´s all about finding a lender you can trust who´ll put you into a loan program that´s right for you.
So many borrowers focus exclusively on low rates and low loan costs as their loan search criteria. That often turns out fine, but sometimes borrowers find later that there were conditions to the loan offer or hidden fees and costs.
You may do best by selecting a good local lender who will protect your interests, even if his rate or closing costs are a bit higher than the lowest quotes you get.
You can get great rates and terms from any number of lenders, but finding a loan professional you can trust may be worth much more to you in the long run.
The following posts review some common mortgage finance issues and solutions.
Contact us if you have questions or need a referral to a good local loan professional!
From the category archives:
Mortgage rates bounced around in a narrow range during the last four weeks as interest rates in general remained low.
Financial troubles in Greece and Spain take upward pressure off rates
Investor worries about financial instability in Greece, Spain and other European countries helped fuel demand for the perceived safety of US Treasury debt instruments, easing any [...]
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Freddie Mac announced late last week that the average rate for 30 year fixed rate mortgage loans fell to 4.99%, marking the third week in a row that rates declined in the US. As tracked by Freddie Mac, 30 year fixed mortgage rates have fluctuated in a very narrow range since last September, hovering around 5%.
After [...]
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Low mortgage rates are causing a spurt in mortgage applications this December. 30 year fixed rate loans averaged 4.81% this week, continuing a year-long run of historically low mortgage interest rates.
Freddie Mac reported on Thursday that the average interest rate for 30 year fixed rate mortgages remained below 5% for the sixth straight week.
Federal Reserve [...]
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The average interest rate charged for 30 year fixed-rate mortgages in the US slipped below 5% again in mid-November. The easy money policies adopted by the Federal Reserve are continuing to keep US interest rates abnormally low.
Low rates stimulate economic growth and help home sales
America’s fiscal policy makers want low interest rates to help the [...]
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The Massachusetts real estate market got some very good news this week. Freddie Mac announced Thursday that the average interest rate for 30-year-fixed-rate mortgage loans has fallen to near-record lows. Average interest rates for other mortgage loan products also sit at or near all-time lows according to figures released by Freddie Mac.
13% decline from May’s [...]
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The $8,000 first time home buyer tax credit is currently set to expire November 30, 2009. That means eligible buyers must take title to their new homes on or before November 30 to receive the credit. Learn about the tax credit here.
The looming expiration is generating debate in Congress whether to extend the life of [...]
At 5.07 percent, the national average rate for 30-year-fixed-rate mortgage loans is at its lowest point since early June 2009. Last year at this time, the national average rate for 30-year fixed-rate loans was 5.93 percent, according to figures maintained by Freddie Mac.
The decline is pushing many homeowners to refinance their mortgage loans.
“Mortgage rates remained [...]
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The average rate for a 30 year fixed-rate mortgage dropped a bit this week despite the release of an economic report that showed less weakness that expected in the overall US economy. Signs of economic strength usually send mortgage rates higher, but such was not the case in this instance.
Freddie Mac reported that the interest [...]
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After peaking at nearly 5.6% on June 11, the average 30 year fixed mortgage rate as tracked by Freddie Mac dropped to 5.2% in the succeeding 4 weeks. This 7% drop in rates roughly coincided with weakness in US stock values and world oil prices over the same general time period.
Mortgage interest rates appear primed [...]
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Interest rates generally fall when the economy falters and rise when economic expectations turn bullish.
With retail sales rising, the Fed announcing that the worst of recession may be past, and U.S. consumer confidence reaching a nine-month high in June, is it any wonder that mortgage interest rates rose over the last 2 weeks?
And the recent [...]
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Warren Reynolds, Esq, GRI, e-PRO
Tel: 508.613.2889 | Contact
Century 21 Commonwealth
15 West Central Street
Franklin, MA 02038
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