Mortgage Rates and Financial News and Tips
Mortgage Applications Fall as Interest Rates Tick Up
Mortgage applications were down last week, dropping about 2% from the week prior, according to the latest survey from the Mortgage Bankers Association (MBA). The overall drop came from a decline in refinance applications, which fell 5% for the week.…
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Should I Refinance My HELOC into a Fixed-Rate Mortgage?
When you’re in need of cash, a home equity line of credit (HELOC) can seem pretty great. They come with low (often interest-only) payments for many years, you can use as much or as little as you like (similar to…
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Mortgage Apps Surge After Holiday Slump
The holiday slump is definitely over. According to the latest survey from the Mortgage Bankers Association, mortgage activity jumped nearly 17% last week. Total applications were up 16.7% for the week ending January 8, with refinances jumping a whopping 20%.…
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Buying or Refinancing in 2021? Use These Tips to Keep Your Credit Score Healthy
If you’re considering buying a home or refinancing your mortgage in the new year, then the desire to keep your credit score healthy should be top of mind. Not only will your credit play a prime role in your ability…
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2020 Home Tax Deductions and What New Homeowners Need to Know
If you’re one of the millions of Americans who dread tax season, you may just be in luck — at least if you bought or sold a home in the last year. Homeowners can usually qualify for a number of…
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Mortgage Activity Sees Holiday Slump
Applications to both purchase a home and refinance one dropped over the holidays. According to the latest survey from the Mortgage Bankers Association, overall mortgage activity fell 4.2% in the last two weeks, despite mortgage rates hovering right around all-time…
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Mortgage Rates Hit New Low, Refis Surge
We may be nearing the holidays, but the housing market isn’t slowing down. Mortgage activity increased 1.1% this week, with both refinance and purchase applications rising. Refinances are currently 105% higher than one year ago, while purchase loan applications are…
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Mortgage Loan Limits are Changing in 2021 — What You Need to Know
Loan limits — or how much you can actually borrow from a lender — are rising next year, both on FHA loans and on conforming ones. The news was announced by the U.S. Department of Housing and Urban Development and…
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Rates Hit New Low, Sending Refis Up
Purchase loan activity dropped last week, falling 5% over the week prior. Refinancing activity, on the other hand, jumped 2%. It’s now 89% higher than this time last year. The bump in refinancing is likely due to low mortgage rates,…
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Refis Fall, While Purchase Loans Surge Over Thanksgiving Holiday
Mortgage applications dropped this week, though only slightly. According to the Mortgage Bankers Association, refinance applications dipped 5% for the week, while purchase activity rose 9%. Both remain higher than last year’s numbers (by 102% and 28%, respectively). Here’s what…
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