Rates fell for the third straight week. They hit the lowest point since May 21st and they reached the 6th lowest point in history. It will come as no shock to those that have been following rates that the 5 lower rates all occurred this year. Below are the 6 lowest rates of all time.April 30th - 4.78April 2nd - 4.78April 23rd - 4.80April 16th - 4.82May 21st - 4.82Nov 19th - 4.83As we can see although it's the 6th lowest it's extremely...more
It is not uncommon to find many lenders providing jumbo mortgages to their clients, however the conditions for approval are a lot tougher than people can ever remember.Jumbo mortgages are defined as mortgages that are larger than a conforming loan. In other words, they are greater than the conforming loan limit, the maximum loan amount that government agencies Fannie Mae and Freddie Mac will purchase.The tricky area is the maximum allowable loan...more
Surf the internet and you will find current mortgage rates all over the place. Prime lending, sub prime lending, buy downs, no downs, interest only, adjustable, balloon, 20 year, 30 year, some with lower interest rates, some considerable higher. How do you know what is a good deal? The airways are full of mortgage lenders promising the best deal for you refinance or home equity loan or simply for your first mortgage.Current mortgage rates are based on money loaned by the federal government to the broker houses, they add their increase and this your interest rate. They vary due to the fact that some mortgage companies charge higher loan origination fees than others. These origination fees should be at the top of a "good faith estimate" document so you know what they are ahead of time. The origination fee is from .5% to 2% of the loan amount. Sometimes discounts points are used to buy down the interest rates. Sub prime lending is for borrowers with non-traditional loans, either by the the nature of the loan itself or due to poor credit scores. These loans carry much higher interest rates. Most people can get loans but the worse the credit the worse the interest rates....more
Affiliate marketing is quickly taking off as the number one way to make a living online. It is no longer just a gimmick or some kind if side job, there are millions of dollars at stake and now thousands of people all want to know how to become a wealthy affiliate.The first step in this process is to assess your skills. In general affiliate...more
Author: Karrie RoseWhile the mortgage industry is definitely expecting a rise in interest rates in upcoming months, the first week of the year has actually seen a slight dip in rates as we enter the new decade. The mortgage rates for 30 year mortgages have actually managed to drop slightly from around 5.14% to 5.09% for the first dip in a steady...more
While the lowest interest rate may not be the only deciding factor when choosing a home mortgage, the lowest mortgage rate is definitely one of the keys to getting an affordable mortgage. A low interest rate on your mortgage means both a lower monthly payment and less money paid back to your lender over the entire life of the loan. Finding and securing the lowest mortgage rates, however, is sometimes easier said than done. Keep your credit rating highYour credit rating is the biggest determining factor in the interest rate that a lender will offer you, so keeping it high should be high on your list of priorities. Long before you start looking for a mortgage, you should be working on keeping your credit report clean and shiny. Learn about the things that will affect your credit rating, and work toward doing those that will affect it positively. Those things include paying your bills promptly, keeping your credit account balances low and maintaining a bank account for several years.Put down a larger down paymentThe amount of the down payment you can put on your house can affect the interest rate that youre offered by a lender. Thats because the more of your own money you put toward...more
Any loan is a major financial commitment that should be entered into with care. Given the large amount and long repayment term of mortgage loans, though, it is vitally important that you find the right lender who will give you the best deal that you...more
Author: MPetroneNeed to save your home from being lost to foreclosure? Want to refinance but have bad credit or are upside down on your mortgage? Do you think you will not be able to qualify for a mortgage refinancing? Well President Obamas stimulus...more
Author: JD PierceWealthy Affiliate Information I congratulate you on continuing your research and getting more information as there are a lot of unethical and dishonest websites out there claiming to be able to make you money. You see it on every...more
Author: Liz MoirWhen the current economic down turn started, the gravity of it did not at first hit home.All through history there are times of rises and dips in the economy.When the general public heard that the Northern Rock was not as stable as it...more
Author: MPetroneBank of America has been selected to offer mortgage refinancing options to homeowners using President Obamas stimulus plan. This plan is designed to prevent foreclosures, help homeowners, and help the overall housing market. Only a...more
Author: David P WalkerThere are a number of reasons why you might want to remortgage. A remortgage deal could allow you to release equity from your property, to take advantage of a better offer following a change in the base rate, to exit your...more