Posts Tagged ‘rates’
Mortgage rates fall to a record low for the eighth time this year, making buying a home more affordable for many Americans
As mortgage rates continue to decline to new record lows, prospective home buyers are facing a frustrating situation: Cheap financing is everywhere, but there’s seldom a home to buy. The 30-year fixed-rate mortgage averaged 2.88% for the week ending August 6, dropping 11 basis points from the week prior, Freddie Mac FMCC, +2.45% reported Thursday.…
Read MoreU.S. News: Reverse Mortgage Is One Way To Stay at Home During Pandemic
As employment options decline and older Americans remain at a heightened risk of developing severe cases of COVID-19 during the global pandemic, a reverse mortgage can be one tool that allows seniors to remain a home, writes U.S. News and World Report in an article published this week. The article outlines several ways for seniors…
Read MoreShould You Grab a Low Mortgage Rate and Catch the Homebuying Wave?
Deeply cheap mortgage rates are giving many Americans a welcome diversion from COVID-19 — by putting them in a homebuying mood. Home sales shot higher last month, according to several different barometers; the nation’s homeownership rate is now the highest since the Great Recession; and buyers are applying for mortgages at a much faster clip…
Read MoreForbes: Add Home Equity to a Retirement Plan Through ‘Bucketing’
In general, people have a tendency to put aside money for accomplishing different tasks they’d like to achieve in their lives. Maybe there’s a swear jar on the kitchen table to try and dissuade the occasional curse word from slipping out around the kids, or maybe a couple has a specific bank account dedicated to…
Read MoreIs Your Mortgage Forbearance Ending Soon? What To Do Next
Millions of Americans struggling to make their monthly mortgage payments because of COVID-19 have received relief through the Coronavirus Aid, Relief, and Economic Security Act. But mortgage forbearance is only temporary, and set to expire soon, leaving many homeowners who are still struggling perplexed on what to do next. Enacted in March, the CARES Act…
Read MoreMortgage rates hit another record low amid coronavirus pandemic
Virtually anytime you borrow money, there’s a cost for the privilege. That’s no different for mortgage loans, which you rely on during the home buying process. Mortgage rates are generally lower than interest rates from other types of debt — but lately rates have been astonishnigly low, as the coronavirus pandemic continues to wreak havoc…
Read MoreMortgage rates drop to another record low — here’s why Americans may not want to wait too much longer before locking rates in
Mortgage rates have fallen to a new all-time low for the fourth time this year. But there’s significant upside risk to the low rate environment, and Americans may not want to wait too much longer before locking rates in. The 30-year fixed-rate mortgage averaged 3.13% for the week ending June 18, down eight basis points…
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