For the fourth week consecutively, the mortgages rates eased a little more. According to the recent Primary Mortgage Market Survey by Freddie Mac, the rates for both short-term loans and long term loans have fallen by a small margin in the last week. The average of 30 year fixed rate mortgage settled at 6.24 percent […]
Category Archives: Finance General
Mortgage rates are expected to keep dropping in anticipation of the Federal Reserve meeting in the last week of April, as a result of extremely low builder and buyer confidence in the market, and extremely weak housing starts. Everyone is betting that rates will be cut- yet again. This could be good news for people […]
Your FICO score will be a determining factor in the setting of the interest rate on your mortgage. Put simply, your FICO score is a risk rating on you, the borrower. Data related to your financial responsibility is aggregated by institutions that you do business with, and it is this data that comprises your FICO […]
If you have ever gone looking for quotes on a mortgage in order to find out just what a mortgage might cost you, you have probably had the term points thrown at you. So what are points? Each point is a fee and it is based on one percent of the total amount of the […]
The U.S Treasury Department is going to come up with a plan that will save all homeowners who are struggling from the foreclosure syndrome. The Department will work out this plan with the collaboration of mortgage industry leaders. But the analysts have something else to say. They think that this plan cannot help the banks […]
To understand loans and mortgages we need to understand loan limits first. If your loan amount exceeds the amount below, you will qualify for a Jumbo Loan, which carries higher interest rate. One-Family (single family homes) $417,000 Two-Family(duplex) $533,850 Three-Family (triplex) $645,300 Four-Family(fourplex) $801,950 FIXED Loans: 30 Year Fixed Mortgage Rates This loan program is […]