Interest rates on the safest and most popular types of mortgages fell to record lows this week.
The average cost of a 30-year, fixed-rate mortgage was 5.06% in Bankrate’s latest weekly survey of major lenders — the lowest average since the survey began in 1985.
In every market we checked, we found lenders offering these loans [...]
« Archive for the ‘Mortgage Rates’ Category
Fixed-rate mortgages cheaper than ever
November 19, 2009 11:35 AM
Buy A Home, Get A Tax Credit
November 16, 2009 09:15 AM
Congress has extended the popular tax credit for first-time homebuyers and created a new tax break for homeowners looking to trade up.
When President Obama signed the Worker, Homeownership, and Business Assistance Act of 2009 into law earlier this month there was an audible sigh of relief from the real estate industry.
The first-time buyers’ tax credit [...]
Go House Hunting With A Buyer’s Agent
October 31, 2009 09:15 AM
If you’re thinking of purchasing a home, don’t go with just any real estate agent: Get a full-time buyer’s agent.
One of the biggest advantages of working with a buyer’s agent is that you’re less likely to have any conflicts of interest.
Unlike agents who represent buyers and sellers, buyer’s agents won’t steer you towards a home [...]
Best Mortgage Rates Hold Their Own
October 24, 2009 09:15 AM
The best deals on home loans are just as good as they were in September.
The lowest rates for a 30-year, fixed-rate mortgage ranged from 5.125% to 4.875% in the 10 cities we surveyed this month, almost identical to the 5.125% to 4.625% range we found in September.
That definitely beats the best deals we were seeing [...]
Best HELOCs Cost A Little More This Fall
October 18, 2009 07:15 AM
The best home equity lines of credit are a little more costly this fall than they were in early summer.
Back in June a number of lenders were offering HELOCs for less than 4%. Now only a couple have deals that good, and most borrowers will pay 4.25% or more.
The cost of these variable-rate loans [...]
Win A Year’s Worth Of Mortgage Payments
October 14, 2009 10:22 AM
If Wells Fargo holds your mortgage, you could win enough money to make your payments for a year with the bank’s “$60,000 Mortgage Sweepstakes”.
Just register for Wells Fargo Online or sign on to view your mortgage account online and you’re automatically entered.
Home owners have until Nov. 25 to register, and there are two chances [...]
Are Lenders Backing Out Of Modifications?!
October 1, 2009 03:48 PM
Holden Lewis, the mortgage expert at Bankrate.com, just published a very disturbing post on his blog.
It questions whether mortgage servicing companies that agree to modify unaffordable loans are arbitrarily canceling those deals after the borrower has successfully completed the trial period.
Lewis tells the story of a woman who signed a modification agreement and not only [...]
Best Mortgage Rates Keep Going Down
September 25, 2009 10:15 AM
The best deals on home loans are considerably better than they were last summer.
The lowest interest rates for a 30-year, fixed-rate mortgage ranged from 5.125% to 4.625% in the cities we just surveyed.
That’s a little better than in August survey, a noticeable improvement over July and way better than in June.
Anyone shopping for a home [...]
First-Time Buyers’ Tax Credit Expiring
September 19, 2009 10:00 AM
You’ve got to close on your home before Dec. 1 to qualify for a tax credit that could reduce your federal taxes by as much as $8,000 from your federal taxes.
The first-time homebuyer’s tax credit has been one of the most popular parts of the economic stimulus bill Congress passed last winter.
But if you don’t [...]