Mortgage Rates and Financial News and Tips

Mortgage Weekly Update

Rates Jump Up and Applications Drop Down

By Suzanne Odonnell / June 1, 2023
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On Thursday, June 1, 2023, Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.79 percent, up from last week when it averaged 6.57 percent. A year ago at this time, the 30-year FRM…

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What Does it Mean When a Home is Under Contract?

What Does it Mean When a Home is Under Contract?

By John Chiappetta / May 31, 2023
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When you are looking for a home, you may have seen the words “under contract” or “pending” on a listing. This means that another buyer has made an offer on the home and the seller has accepted it. However, this…

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Understanding Your Mortgage Quote

Understanding Your Mortgage Quote

By John Chiappetta / May 24, 2023
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Buying a home is a significant financial commitment, and understanding your mortgage quote is crucial to avoid surprises down the line. Your lender will provide a mortgage quote based on various factors, and being aware of these elements can help…

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Best Loan Options for Experienced Home Buyers

Best Loan Options for Experienced Home Buyers

By John Chiappetta / May 19, 2023
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As an experienced home buyer, you have likely gained valuable insights and a deeper understanding of the mortgage landscape. With your previous experience, you may be ready to explore advanced loan options that cater to specific needs and situations. In…

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How to Know If You Are a Good Candidate for a Mortgage Loan

How to Know If You Are a Good Candidate for a Mortgage Loan

By John Chiappetta / May 10, 2023
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For a first-time buyer, the thought of applying for a mortgage loan can be daunting. Will you qualify? What sort of rate will you get? What type of mortgage should you apply for? Are you even a good candidate in…

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Signs It May Be Time to Refinance

Signs It May Be Time to Refinance

By John Chiappetta / May 5, 2023
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If you’re like most Americans, your home is your biggest asset. It’s also probably the biggest loan you’ve ever taken out. Mortgage terms typically last for 30 years, which means you’ll likely be paying on your home long after the…

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USDA Loans: An Affordable Loan Option

USDA Loans: An Affordable Loan Option

By John Chiappetta / April 28, 2023
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If you’re in the market for a new home and are looking for an affordable loan option, you may want to consider a USDA loan. USDA loans are a type of mortgage loan backed by the United States Department of…

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What Does It Mean to “Have Equity” in Your Home?

What Does It Mean to “Have Equity” in Your Home?

By Aly Yale / April 26, 2023
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If you’re a homeowner, then you’ve probably heard of home equity before — at least in some form or fashion. Whether your neighbor recently did a cash-out refinance or you’ve been told you can “take money out of your house”…

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How to Make Buying a Home Less Stressful

How to Make Buying a Home Less Stressful

By Aly Yale / April 19, 2023
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Home buying can be one of the most stressful processes you’ll ever go through. You’re on a time crunch, you have thousands of dollars on the line, and you’re dealing with dozens of vendors, reams of paperwork, and, of course,…

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What Does a "Cash-Out Refinance" Mean?

What Does a “Cash-Out Refinance” Mean?

By Aly Yale / April 12, 2023
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You’ve probably heard the term “cash-out refinance” before. Maybe your neighbor used one to pay for their new deck or your sister took one out to cover your nephew’s first year of college tuition. Whatever the reason, you know that…

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