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:
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 [...]
{ 0 comments }
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 [...]
{ 0 comments }
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 [...]
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 [...]
{ 0 comments }
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 [...]
{ 0 comments }
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 [...]
{ 0 comments }
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 [...]
{ 2 comments }
4.84% is the current national average for 30 year fixed rate mortgages according to the Federal Home Loan Mortgage Corporation (Freddie Mac) in a report released May 7, 2009. This was essentially the same rate as quoted by Freddie Mac for 30 year mortgages at the start of April 2009 (4.78%). You may be hearing [...]
{ 0 comments }
The average rate for 30-year fixed-rate mortgages dropped below 5% early in April 2009. The average rate now is 17% lower than it was one year ago. This makes now a perfect time to refinance your current mortgage (or buy a new home). The average 30 year fixed rate was at 4.87% rate on April [...]
{ 0 comments }
The Federal Reserve is taking remarkable steps to drive mortgage rates lower. This push to reduce rates demonstrates that the US government is fully committed to re-inflating the national housing market. Mortgage interest rates are already at levels not seen since their historic lows of 2003. As reported by the Federal Home Loan Mortgage Corporation, [...]
{ 0 comments }
Warren Reynolds, Esq, GRI, e-PRO
Tel: 508.613.2889 | Contact
Century 21 Commonwealth
15 West Central Street
Franklin, MA 02038
Website Design by TCwebsite.
