Mortgages
The standard news for Mortage Interest Rates, they’re down again. Because they keep going down every week, are people waiting to refinance until they drop further? Will we possibly see an increase in refinances the moment interest rates start going up? Probably not. Most people who can refinance right now and would benefit by it [...]
Continue reading about Mortgage Interest Rates Go Down, Again
So the latest results from the weekly Freddy Mac Survey show that mortgage interest rates are at new all time lows again. The only difference is that now demand for these record low interest rates is even less. The good news is that less demand means that these lower than ever mortgage rates will probably [...]
Continue reading about 30 Year Fixed 4.44% – 15 Year 3.92%. All Time Lows. But Demand Is Down…
Yesterday I learned that the Neighborhood Nonprofit Housing Corporation offers special programs for people with disabilities. To qualify, families must make less than 80% of the median area income, around $50,000. The HomeChoice program essentially gives a special low interest rate mortgage. For more information visit Neighborhood Nonprofit or call the Home Choice hotline 1-866-493-4500.
Continue reading about Special Mortgages for People With Disabilities
I read an article this morning that 70% of the home loans in Nevada are under water, meaning that more than two out of every three homeowners in the state of Nevada owes more on their home than it is worth. These people are unable to sell their homes unless they have a huge savings [...]
Continue reading about How to Keep From Having an Underwater Mortgage
Okay, so Mortgage Interest Rates are at a NEW record low. This is happening so often, it’s barely even news any more. The fact is that housing interest rates are so unbelievably low it’s almost unreal. Even though Utah home prices might drop a little bit more over the next year, from an affordability aspect, [...]
Continue reading about Mortgage Interest Rates at NEW Record Lows
I just got an email notifying me that FHA Mortgages are at their lowest point in 46 years! The par rate is 4.5%. That means if you pay more up front, you can get an even less expensive rate. BankRate.com has the par rate of some 30 year fixed conventional rates at 4.534%, 15 year [...]
Continue reading about Mortgage Rates at a 46 Year Low Today
Mortgage Interest Rates are so low right now, that from a monthly payment standpoint, home prices would have to drop 22% to have the same monthly payment if mortgage rates were 7%. At the AVERAGE national interest rate right now, a P&I payment on a $150,000 home loan would be $785.19 a month. If mortgage [...]
Continue reading about 15 Year Mortgage Rates at Record Lows
Despite the end of the Federal Reserve’s purchase of Mortgage Backed Securities at the end of March, mortgage interest rates are still really low. John Neil of Wasatch Mortgage Solutions reports current 30 year interest rates at below 5%. Many finance “experts” predicted that at the beginning of April there would be a large spike [...]
