Getting Rid of Private Mortgage Insurance

You can raise your credit score, save enough cash for closing costs, and maintain accurate financial records. However, if you don’t have at least a 20 percent down payment when buying a house, you’ll have to pay private mortgage insurance. Private mortgage insurance is required on all mortgage loans with a loan-to-value ratio greater than […]

Continue Reading

Mortgage Rate News for Friday, October 24, 2014

After last week’s dramatic drop, mortgage rates have continued to decline at a more sedate pace. For you, that means lows not recorded since June of 2013. The average rate for 30-year fixed-rate mortgages fell to 3.92%, down from 3.97% last week. 15-year fixed-rate mortgages were down 10 basis points to 3.08%, and 5/1 ARMs dropped only […]

Continue Reading

How to Compare Mortgage Loan Products

There’s no such thing as a one-size-fits-all mortgage. Some products are specifically for high-end buyers, whereas other products are geared toward borrowers with not-so-perfect credit. This is why blindly choosing a mortgage product is one of the worst things you can do when buying a place. Shopping around may be a tedious job, but it’s the […]

Continue Reading

Getting a Mortgage is About to Get Easier

Sizable down payments have been the norm for the last few years, after loans gone bad sent the housing market stumbling. This may have changed yesterday (Tuesday, October 21st, 2014, for those of you in the future). According to The Wall Street Journal: “Federal regulators took a big step toward easing postcrisis lending rules, agreeing […]

Continue Reading

Mortgage Rate News for Wednesday, October 22, 2014

Yesterday mortgage rates mostly held their ground, sticking to a general sideways trend we’ve seen since the end of last week.  Volumes are down, and I think the market is taking a breather from the record volumes and volatility we saw in bonds last week.  As has been noted here (and elsewhere), I believe that the […]

Continue Reading

How to Decorate an Oddly Shaped Room

All those features the realtor called “very distinctive” before you bought the house have a tendency to turn very weird when the time comes to decorate. But not everyone has the space and resources to go all HGTV on their floor plan. Learn to love (or tolerate) your not-so-standard spaces with these tips. For a long, […]

Continue Reading

Mortgage Rate News for Tuesday, October 21, 2014

There was little change to mortgage rates yesterday, despite a fair amount of volatility in mortgage backed securities markets.  Mortgage bonds began the day by selling off, and assuming current levels stand, mortgage rates will worsen slightly today.  Remember that mortgage rates have an inverse relationship to the price of mortgage bonds, so as the […]

Continue Reading

Mortgage Rate News for Monday, October 20, 2014

Last week was a pretty crazy one for mortgage rates.  Rates hit 14 month lows in the middle of the week, with the average rate on a 30-year fixed-rate mortgage falling below 4% according to Freddie Mac.  It was not to last however, and mortgage bonds subsequently retreated from their peaks, and while rates are […]

Continue Reading