This should be a great time to refinance.
The average rate for a 30-year, fixed-rate mortgage — the most popular type of home loan — fell to just 5.41% in Bankrate’s weekly survey of major lenders taken today.
The best mortgage rates in the 10 cities we surveyed in August ranged from 5.125% to 4.875%, down [...]
« Archive for the ‘Mortgage Rates’ Category
How Bad Is The Refinancing Run Around?
September 2, 2009 04:30 PM
Let The Feds Lower Your Down Payment
August 31, 2009 05:30 PM
Want to buy a home, but don’t have much cash?
Two government programs can ensure you make the smallest possible down payment.
You can still get 100% financing if you can qualify for a VA loan. And you’ll only have to pay 3.5% of the purchase price with an FHA loan.
These are mortgages where the government promises [...]
Best Mortgage Rates Slip Lower
August 21, 2009 09:30 AM
As the summer rolls on, the best deals on home loans keep getting better.
The lowest rates for a 30-year, fixed-rate loan in the 10 cities we surveyed this month range from 5.125% to 4.875%.
The results are a little better than our July survey, when the range was 5% to 5.25%. They’re a lot better than [...]
Mortgage Rules Should Stop Nasty Surprises
August 6, 2009 02:00 AM
The Federal Reserve has revised the disclosure requirements for mortgages to protect consumers from non-refundable fees and higher interest rates.
The new rules — which also apply to home equity loans but not home equity lines of credit — took effect July 30. They require lenders to:
Provide a good faith estimate (GFE) of a mortgage’s full [...]
Hey Tim, How’s The Housing Market?
July 31, 2009 08:00 AM
Comedian John Oliver is standing outside a suburban New York home that’s been on the market since February.
The owner “priced it way too high,” a local real estate agent tells him. “And he didn’t want to take a price reduction. Nobody wanted it.”
“Whoever owns this house clearly knows nothing about finance,” Oliver replies.
“Oh no, [...]
Most Mortgage Rates Steady To Lower
July 19, 2009 09:10 AM
Rates on 30-year fixed loans are stuck just above 5%, which is a pretty good place to be. In many parts of the country you can get a mortgage rate of 5.25% APR or less with no points and fees under $2,000.
That’s not the low 4.50% rate that government officials were throwing around last [...]
Top Mortgage Rates Fall Back Toward 5%
July 12, 2009 09:00 AM
Mortgage rates are a little higher than the record lows we saw this spring.
But home loans cost a quarter-point less than they did in June, and there are some very good deals out there.
We searched the extensive database of mortgage rates on Bankrate.com and Interest.com for a dozen cities.
Here’s the lowest rate [...]
Best Mortgages Still As Low As 5.25%
June 21, 2009 10:00 AM
Mortgage rates are up a half-point or so from the record lows they set this spring.
But there are still some very good deals out there.
We searched the extensive database of mortgage rates on Bankrate.com and Interest.com for 10 major cities.
Here’s the lowest rate we found for what we consider to be the best [...]
Pay as little as 3.25% for the best HELOCs
June 6, 2009 08:10 AM
Home equity lines of credit are still the cheapest consumer loans you can get — if you can get one.
Although the national average for a HELOC is 5.62%, in many parts of the country you can get a $30,000 line of credit for 3.25% to 3.75%.
These are adjustable rate loans that typically charge the prime [...]