August 2024

While home prices and mortgage rates may be starting to (slowly) come down in some markets, there’s no doubt that today’s interest rates are far steeper than they were just a few years ago.   A rate that is just a few percentage points higher generally can cost you hundreds of extra dollars each month in […]

Aspiring homebuyers priced out of the housing market shouldn’t lose hope. Mortgage rates could be heading lower. The U.S. Federal Reserve held its interest rates steady at its July meeting. But the Fed is widely expected to make its first rate cut in September if inflation continues to cool. That would be likely to exert […]

There isn’t just one right way to afford a down payment on a home. Coming up with all the cash required to purchase a first home can be intimidating, especially as home prices continue to rise in many parts of the country. Many would-be buyers struggle to save up money while juggling student and credit […]

With home prices and mortgage rates remaining high, many potential homebuyers are looking for money-saving strategies. That’s led some to look beyond the standard 30-year, fixed-rate mortgage. Historically, considering a shorter mortgage term, such as a 15-year mortgage, has helped borrowers to save money over the long run—potentially even hundreds of thousands of dollars. However, […]

Even as the number of homes for sale is on the rise, there are still plenty of homeowners who are happy to remain in their current home—with their low mortgage rates. In fact, a new survey shows that people who bought or refinanced in the last few years when rates were at historic lows aren’t […]

Hello everyone. Welcome back to the Mortgage Rundown. Today we are going to talk about what’s happening with interest rates. In case you haven’t been watching, a lot has happened this past week. We saw a weak ADP employment report, a Federal Open Market Committee (FOMC) meeting with no change to the benchmark rate, which likely […]