What Does It Mean to Be Pre­-Approved for a Mortgage?

Loan approval

Wouldn’t it be nice to know what you can afford before shopping for a house? With a mortgage pre-­approval, this is exactly what happens. Getting pre­-approved for a mortgage isn’t required to look at properties or bid on a home but there are advantages to meeting with a lender beforehand. Pre-approvals help eliminate the guesswork when shopping for a […]

Current Mortgage Rates for Tuesday, June 30, 2015

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Yesterday equities got hammered, bonds rallied, and mortgage rates improved.  This may just be a temporary respite, as the proximate cause for yesterday’s price action was the mess over in Europe.  In the event that situation is resolved in some manner that is not disastrous, I think we’ll see mortgage rates tick back up.  This […]

Current Mortgage Rates for Monday, June 29, 2015

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Well.  Things are getting crazy over in Europe, and Treasuries and mortgage backed securities are the beneficiary today.  Last week mortgage backed securities sold off pretty consistently, and mortgage rates rose.  Friday, in particular was a bad day.  So far this morning MBS have made up all of the ground that was lost on Friday. […]

Mortgage Rates Roundup for Saturday, June 27, 2015

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Mortgage rates wound up settling right around where they were last week. Chief economist for Freddie Mac, Sean Becketti, said “Economic releases confirmed increasing strength in housing… Buyers appear anxious to purchase homes before the expected increase in interest rates later this year.” Rates are still expected to rise, but how high, and how soon remains […]

Current Mortgage Rates for Friday, June 26, 2015

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I’ll be honest with you folks.  This blog is going to be an exercise in seeing how many words we can squeeze out of almost no news, or anything of any real interest.  That’s thirty-three right there.  Yesterday mortgage backed securities were flat, and mortgage rates were the same.  This morning, MBS are in the […]

DIY Mirror Etching

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A mirror etching is a great way to add to your home’s elegance without spending a fortune. As long as you’re mildly artistic, you shouldn’t have a problem with this DIY project. Supplies: Clear adhesive vinyl paper Craft knife (X-Acto Knife) Etching cream Paint brush Mirror Pattern or stencil Scotch tape   1. Create your […]

Current Mortgage Rates for Thursday, June 25, 2015

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The Primary Mortgage Market Survey came out this morning, revealing the average rate on a 30-year fixed rate mortgage to be 4.02%, slightly up from last week’s rate of 4.00%. The average rate on a 15-year fixed rate mortgage is 3.21%, down slightly from 3.23%. The 5-year ARM also dipped down this week, from 3.00% to 2.98%. Chief […]