Will mortgage rates fall again after this week’s Fed meeting?
Editor’s note: This article was originally published on June 10, 2020, and updated on July 28, 2020, with the latest Fed forecasts Don’t wait on the Fed for lower mortgage […]
Editor’s note: This article was originally published on June 10, 2020, and updated on July 28, 2020, with the latest Fed forecasts Don’t wait on the Fed for lower mortgage […]
It was easy to get lulled into complacency by the second half of 2020 when it came to mortgage rates. Even as other indicators said rates should be rising, they continued on a calm journey to multiple record lows. 2021 has been very different so far! Covid and its impacts on the economy remain the driving forces behind market trends. That’s generally been great for rates, but it also means that rates should gradually rise as we battle back against covid. If the onset of the pandemic pushed rates to all-time lows, it’s only fair that progress against the pandemic would result in rates moving up from all-time lows. If you ask 10yr Treasury yields, that’s been the case for quite a while. And while the stock market has been singing a similar tune, the mortgage market has been in its own glorious
Posted To: MND NewsWire
Freddie Mac’s first quarter 2021 economic forecast is unusually short, and, unlike recent forecasts from either of the GSEs, has relatively few revisions. The company’s economists say that nearly a year after the first cases of COVID-19 were diagnosed in the U.S., economic growth remains uncertain, with answers largely hinging on the roll-out of the new vaccines. The labor market remains weak with close to 20 million collecting unemployment insurance. December’s job losses, the first since last April, didn’t change the unemployment rate from 6.7 percent because labor participation also declined. Record low mortgage rates continued to carry the housing market during the turmoil of the pandemic. At the end of the first week of 2021, the 30-year rate hit 2.65 percent, a new low. Freddie Mac expects…(read more)
Question: What do home mortgage loans (including second mortgage loans), retail installment loans, automobile loans, home improvement loans, and mobile home loans, have in common — aside from being loans to consumers?
Answer: The interest charge sometimes is calculated monthly and sometimes daily. With a monthly interest rate the borrower is charged for each month, whereas with a daily interest rate the borrower is charged for each day.
Why is this distinction important? Because daily rates are a potential trap for unwary borrowers, countless numbers of whom have found themselves permanently, usually with no understanding of how it happened. The problem has been entirely overlooked by regulators, including the Consumer Financial Protection Bureau.
From Alexander to Todd, here’s whose names add up to the priciest pads from coast to coast.
US long-term mortgage rates rise; 30-year at 2.79% Manhattan Mercury
Today weâll analyze NBKC Bank, formerly known as National Bank of Kansas City, which a depository thatâs also big on home loans, funding billions in mortgages annually. They refer to themselves as an âaward-winning national mortgage companyâ thanks to their many accolades and numerous 5-star customer reviews. Additionally, NBKC is a top-15 VA loan lender [&hellip
The post NBKC Mortgage Review: An Award-Winning Online Lender first appeared on The Truth About Mortgage.
The loan purpose type specifies the purpose for which the loan proceeds will be used. The loan purpose may be to purchase a home or to refinance an existing mortgage to obtain a lower interest rate or to get cash. Mortgage industry investors track and report the distribution of loan purpose types in their portfolio in order to mitigate the risk associated with various loan purpose types. In general, buying a home represents less of a risk than refinancing an existing mortgage. Refinance transactions in which the borrower takes out little or no equity (cash) represents less risk than ……
Because of their complexity relative to other mortgage programs, VA loans are the subject of plenty of different myths. Some of these myths are based on truths, but what you […]
Itâs time for a new mortgage match-up. Since paying down the mortgage early seems to be so en vogue these days, it makes sense to compare â20-year mortgages vs. 30-year mortgages.â The most common type of mortgage is the 30-year fixed. It amortizes over 30-years and the mortgage rate never changes during that time. Each [&hellip
The post 20-Year vs. 30-Year Mortgages: Get a Lower Rate? first appeared on The Truth About Mortgage.