-
Long-Term Mortgage Rates
NOVEMBER 18, 2022 THE MARKET COOLS Freddie Mac has changed the way it calculates the average long-term mortgage rate, so factor that in when you hear the news that this housing market barometer saw its biggest drop in nearly 41 years. Meanwhile, inflation, mortgage rates that have doubled since March, and low inventory are putting the market on ice, according to the latest numbers from The Warren Group. Other news to put the market in perspective:Housing starts fell 8.8% year over year in October (Associated Press);Existing-home sales slipped 5.9% month over month (Zillow);Housing prices have plateaued (Zillow);Rent growth has hit its slowest pace in 19 months (Realtor.com);1 in 10 Americans has delayed purchasing a…
-
Your Mortgage Price: The Determining
Your Mortgage Price: The Determining Factors This article is originally posted on better.com What You’ll Learn There’s no one biggest factor in determining mortgage price There are many factors that help lenders set interest rates Some of the factors are within your control There are a lot of different factors that decide the price of your mortgage. Some factors depend on you, the homeowner. Some depend on the particular property you have in mind. Some factors depend on the state of the economy. There isn’t one big factor that decides the mortgage price, but many important considerations that help a lender set the interest on a particular loan. Let’s take…
-
A guide to cash-out refi: using your home to consolidate high-interest debt
With a PhD in financial economics, Sean Hundtofte is here to help you understand how macro and micro economic forces affect homeownership — from homebuying to real estate to refinancing and beyond. A former research economist for the Federal Reserve Bank of New York, Sean’s goal is to help you make more informed decisions about homeownership. While the holiday season is the most festive time of the year, it also tends to be the most expensive for people. If you’re wondering, “How do I lower my debt costs after the holidays?” you’re not alone. A cash-out refi could be a smart and cost-effective way to consolidate past expenses, like holiday…
Living a simple lifestyle from the front porch
