5-Year Mortgage: Can You Get One and What It Costs
True 5-year fixed-rate mortgages are rare in the US, but a few banks and credit unions make them. Here is where to look, what a five-year payoff costs…
Category
Mortgage Rates
Mortgage rates move with the economy, inflation and the bond market. These articles explain what drives rates and how to get a better rate on your own loan. For today’s numbers, see current mortgage rates.
Current Mortgage Interest Rates
Current mortgage interest rates change every day. For a benchmark, check Freddie Mac’s Primary Mortgage Market Survey (PMMS), which posts the average 30-year and 15-year fixed rates every…
VA Streamline (IRRRL) Refinance Loan: Easier Refinancing for Veterans
A VA Streamline Refinance is also known as an Interest Rate Reduction Refinance Loan, or IRRRL, because it is designed to help homeowners lower their mortgage rate quickly…
When Is an Adjustable Rate Mortgage (ARM) a Good Idea?
Why take an adjustable-rate mortgage (ARM)? Why not just take a fixed rate and not worry about what rates might do in the future? That’s a fair question,…
Credit, Home Type & Perceived Risk Affect Your Mortgage Rate
Getting an interest rate to purchase a home is similar to when you were back in school earning good grades – or not. The teacher put together many…
When Should I Lock In My Mortgage?
When you’re in the process of getting a home loan, at some point you’ll have to lock in your mortgage rate. This might be months in advance, mere…
Get Lower Mortgage Rates: Be a Low-Risk Borrower
Lenders determine a different mortgage rate and fee structure for each home loan applicant that comes through their door. This practice seems odd in today’s market, where news…
A 1% Rate Increase Can Cut Your Buying Power by 9% or More
How interest rates affect buying a home How do interest rates affect buying power when you’re searching for your next home? Will you have to settle for a…
Are Discount Points Worth It in Today’s Mortgage Market?
Everyone wants the lowest interest they can get for a mortgage. But are you willing to pay to lower that rate with a lump sum in the beginning…