Mortgage Refinance

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Mortgage Refinance

US Mortgage Rates Plunge for a Second Week, Hit Two-Month Low

(Bloomberg) — US mortgage rates retreated sharply for a second week, hitting a two-month low and providing a bit of traction for the beleaguered housing market. The contract rate on a 30-year fixed mortgage decreased 23 basis points to 6.67% in the week ended Nov. 18, according to Mortgage Bankers Association data released Wednesday. Rates […]

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Home Mortgage
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Mortgage Refinance

US Mortgage Lenders Are Starting to Go Broke

(Bloomberg) — The US mortgage industry is seeing its first lenders go out of business after a sudden spike in lending rates, and the wave of failures that’s coming could be the worst since the housing bubble burst about 15 years ago. There’s no systemic meltdown coming this time around, because there hasn’t been the […]

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Home Mortgage
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Pay Off Mortgage

How to Pay off a Mortgage in Five Years

Young female mountain climber While homeownership is called “the American Dream,” owning a home also means taking out a mortgage for most people. And you don’t truly own your home until the mortgage is paid off, so many families want to pay their mortgage off quickly. If you really set your mind to it, you […]

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Mortgage Refinance

Mortgage Rates Surge. The Pandemic’s Ultralow Rates Are Over.

The average rate of a 30-year fixed-rate mortgage was 3.45% this week. Brandon Bell/Getty Images Mortgage rates climbed to their highest point since March 2020, according to data released Thursday. It’s the latest sign that the pandemic’s ultralow rates are a thing of the past. The average rate of a 30-year fixed-rate mortgage was 3.45% […]

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Mortgage Refinance

5 money moves to make before the Fed starts raising interest rates to fight inflation

5 money moves to make before the Fed starts raising interest rates to fight inflation Chairman Jerome Powell (pictured) and the other policymakers at the Federal Reserve just said again, after their recent December meeting, that they’ll keep holding a key interest rate near zero. But only for now. The officials also indicated that they […]

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Home Mortgage
Mortgage
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Mortgage Refinance

Real estate shock or a big nothing? Experts debate what rising mortgage rates will mean for the 2022 housing market

Federal Reserve officials were confident through the summer that spiking prices would reverse as the economy worked through supply and demand shocks caused by the pandemic. But that “transitory” narrative has been all but abandoned this month as the latest reading of U.S. inflation hit a 39-year high. Soon after that report came out, Fed […]

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Home Mortgage
Mortgage
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Mortgage Refinance

This is the No. 1 reason Americans get denied a mortgage — and it’s not the reason you might think

Getty Images/iStockphoto Mortgage rates remain near historic lows, with some 30-year rates near 3% and some 15-year rates near 2%, as you can see here — though experts predict they will rise. But you might not get a mortgage at all, if you fall into some of these traps: According to a recently released NerdWallet […]

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Mortgage
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Mortgage Refinance

Mortgage rates are standing still, but higher borrowing costs are not far away

Mortgage rates are standing still, but higher borrowing costs are not far away Mortgage rates are taking a breather, having shown little movement up or down over the past few weeks, a widely followed survey shows. That’s giving homebuyers and refinancing homeowners more time to lock in money-saving rates before they evaporate. There are good […]

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Mortgage Refinance

I’ve processed more than 1,000 mortgages. Here are 3 things buyers in today’s market should do before they get a mortgage

Getty Images/iStockphoto With about 1,000 mortgages under his belt over the past 20 years, Jay Goldberg, a mortgage broker at Union Bank in Los Angeles, has seen firsthand how the market ebbs and flows and what that means for homebuyers and refinancers. “Ten or 12 years ago, in the Great Recession, self-employed and professional clients […]

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Home Mortgage
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Mortgage Refinance

Low mortgage rates are holding on — and millions of US homeowners are making this big mistake

Low mortgage rates are holding on — and millions of US homeowners are making this big mistake Mortgage rates have been relatively stable over the past few weeks, a widely followed survey shows, even as experts keep warning that higher borrowing costs are on the way. For now, fears about the omicron variant and its […]

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Home Mortgage
Mortgage
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Mortgage Refinance
Pay Off Mortgage

U.S Mortgage Rates Hit Reverse and Return to sub-3%

Mortgage rates fell for a 2nd consecutive week, marking a 2nd decline in 5-weeks. The fall also saw 30-year fixed rates fall back to sub-3% after having held above the 3% mark for 4 weeks in a row. In the week ending 11th November, 30-year fixed rates slid by 11 basis points to 2.98%. Compared […]

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Home Mortgage
Mortgage
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Pay Off Mortgage

Should I Pay Off My Mortgage Early?

Mortgage documents Whether you experience a sudden financial windfall or just find yourself with leftover cash in your budget each month, you might be wondering what to do with those extra funds. One option is to contribute more money toward the loan on your home, but should you pay off a mortgage early, or are […]

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Homeowners
Mortgage Refinance

Warren Buffett would say now's the time to refinance your mortgage — here's why

Warren Buffett would say now’s the time to refinance your mortgage — here’s why With 30-year fixed mortgage rates still hovering around 3%, homeowners who haven’t refinanced during the pandemic era might be missing out on big savings. Ninety-one-year-old investing sage Warren Buffett would wonder why you’ve been holding off. He told shareholders at his […]

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