Queue the panic. Mortgage rates have officially spiked and the media is all over it. Yep, the average rate on a 30-year fixed mortgage increased from 2.65% to 2.79% this week, per Freddie Macâs weekly survey. Freddie Mac Chief Economist Sam Khater noted in the weekly news release that mortgage rates have been under pressure [&hellip
The post Donât Freak Out About the Recent Mortgage Rate âSpikeâ first appeared on The Truth About Mortgage.
If youâre an existing homeowner, get excited, very excited. A new forecast from Zillow says home prices are going to rise 10.3% from this November until November 2021. Thatâs on top of the already stellar growth realized since around 2012, when home prices seemed to bottom and begin their meteoric and historic ascent. Those fortunate [&hellip
The post Home Prices Are Expected to Rise Another 10% by Next November first appeared on The Truth About Mortgage.
Mortgage rates can be pretty volatile. Just like stocks, they can change daily depending on whatâs happening in the economy. Beyond that, mortgage rates can move based on news that doesnât involve a report on the economic calendar, such as a jobs report, GDP, housing starts, inflation, etc. Even if there isnât a direct financial [&hellip
The post Mortgage Rates vs. the Coronavirus: We Might Test New All-Time Lows first appeared on The Truth About Mortgage.
Itâs good to be a homeowner these days. After all, home prices are rising at an incredible pace, and have been for nearly a decade now since bottoming out. On top of that, many of todayâs homeowners hold fixed-rate mortgages with ultra-low mortgage rates, making it very affordable to own rather than rent. Unfortunately, the [&hellip
The post National Association of Realtors Says Home Prices Are Rising Too Fast first appeared on The Truth About Mortgage.
The leading wholesale mortgage lender in the nation has brought the heat once again, this time offering 30-year fixed mortgage rates below 2% on FHA loans. United Wholesale Mortgage announced that borrowers can now lock in interest rates as low as 1.99% on FHA-backed loans via its popular Conquest program. The new Conquest for FHA [&hellip
The post United Wholesale Mortgage Now Offering FHA Loans with Rates Below 2% first appeared on The Truth About Mortgage.