Why should you get a 15-year mortgage?

Benefits of 15-year mortgage hard to beat Why those lured by smaller payments on 30-year loan should reconsider By Jack Guttentag, Monday, April 30, 2012. Inman News® The case for 15-year fixed-rate mortgages has never been stronger because, in the post-crisis market, the rate advantage over the 30-year has never been larger. The rate advantage …

Continue reading ‘Why should you get a 15-year mortgage?’ »

Six must-haves for mortgage approval

Interest rates are hovering around historical lows, and low interest rates increase affordability, making it easier for buyers to qualify. Yet stories of buyers waiting months to gain loan approval and home purchase transactions not closing on time due to lender’s strict underwriting are all too common. Some buyers are turned down for illogical reasons. …

Continue reading ‘Six must-haves for mortgage approval’ »

Rates on 30-year mortgages hit record low

15-year fixed-rate mortgages also ties lowest rate on record CHICAGO (MarketWatch) — Interest rates charged on 30-year fixed-rate mortgages hit a record low this week, averaging 3.91%, according to Freddie Mac’s weekly survey of conforming mortgage rates. “Rates on 30-year fixed mortgages have been at or below 4% for the last eight weeks and now …

Continue reading ‘Rates on 30-year mortgages hit record low’ »

Existing-Home Sales Jump Nearly 19% From Last Year

Sales of previously owned homes came in 18.6 percent higher last month when compared to August 2010, according to data released Wednesday by the National Association of Realtors (NAR). Completed transactions rose 7.7 percent on a month-over-month basis to a seasonally adjusted annual rate of 5.03 million, up from 4.67 million in July. The latest …

Continue reading ‘Existing-Home Sales Jump Nearly 19% From Last Year’ »