by jimhaley | Jan 25, 2023 | All About Mortgages
Mortgage Closing Costs The Closing Costs for a vast majority of new mortgages have changed. In some cases, the changes are drastic, some for the better and some are worse. Here is a quick look at the changes. If you have any questions on how this will apply to you,... by jimhaley | Jun 19, 2022 | All About Mortgages
When interest rates decreased at the beginning of the pandemic, the real estate market throughout most of the country heavily favored sellers. As interest rates decrease, more buyers enter the market to secure mortgage loans with low interest rates. Low interest... by jimhaley | Apr 28, 2022 | All About Mortgages
How are Mortgage Rates Determined Key Concepts Mortgage rates are driven by investor demand Investors view mortgages as similar to bonds (lower risk, more stable return) Unpredictable consumer behavior makes mortgages more risky than “guaranteed” bonds like US... by jimhaley | Apr 28, 2022 | All About Mortgages
Key Concepts APR attempts to factor in upfront costs to deliver a true “cost of financing” which is typically higher than the interest rate on your mortgage APR relies on human input and variables that can be manipulated to a certain extent. Thus, it’s an imperfect... by jimhaley | Apr 28, 2022 | All About Mortgages
Key Concepts Mortgage rates are interest rates on home loans There are really TWO mortgage rates: the interest rate (or “note rate”) applied to your loan amount (or “principal”) and the rate implied by certain upfront costs (the “effective rate”). APR (Annual... by jimhaley | Mar 23, 2017 | All About Mortgages
In the fourth quarter of 2016 we witnessed a great number of mortgage lenders loosen their approval standards. We also saw a spike in interest rates, but if history is an indicator of where interest rates are going for the remainder of 2017, rates should flatten or...