“Seller Buydown” seems to be a very trendy phrase these days since interest rates have moved higher. There are a couple different types of Seller Buydowns that help make homes more affordable for potential home buyers. [Read more…]
What are Seller Buydowns?
November 14, 2022 by Leave a Comment
I’ve moved!
November 11, 2022 by Leave a Comment
After 23 years of helping people with their mortgage needs at Mortgage Master Service Corporation, I have made a move to New American Funding. You can still reach me at my same phone number and email. And you can still click the “Get Approved” link above to start a loan application with me. I am still here to help you (and anyone you care about) with your home loans. [Read more…]
Mortgage Rates Improved!
November 10, 2022 by Leave a Comment
Mortgage interest rates are having one of their best days in months following the CPI report released this morning showing better than expected data on inflation. Yes, inflation is still high but this morning’s report indicates that it may be starting to correct. [Read more…]
The FIRST thing you need to do BEFORE applying for a mortgage or get preapproved for ANY credit
October 12, 2022 by Leave a Comment
WARNING: Rant ahead!
When you meet with a mortgage professional and allow them to pull your credit so that you can be prequalified for a mortgage to buy or refinance a home, your information is provided to countless other lenders. Before you become furious with your mortgage lender, please know that it’s not their fault! [Read more…]
Freddie Mac PMMS: Mortgage Rates on the Rise
September 30, 2022 by Leave a Comment
Freddie Mac’s Prime Mortgage Market Survey illustrates how mortgage interest rates have continued to push higher. The graph below is based on an average from last week so the rates are “expired”. This graph is to just give you an idea of how mortgage rates are trending. NOTE: Please click here for current mortgage rates for your personal scenario.
Fannie Mae projects Mortgage Interest Rates around 4.5% in 2023
August 31, 2022 by 4 Comments
Fannie Mae recently released updated projections for interest rates next year. An average of 4.500% for a 30 year fixed would be an improvement from what home buyers and homeowners have experienced since the jump in interest rates that that happened the second quarter of this year. We have to remember that this is just a prediction and many factors influence the direction of mortgage interest rates. [Read more…]
Fed increases Funds Rates by 0.75 Percentage Points
July 27, 2022 by Leave a Comment
Today, in a move that probably surprised nobody, the FOMC increased the Funds Rate by 0.75 percentage points to 2.500%.
In addition, the Fed reiterated their commitment to reduce their holdings in Treasury/mortgage-backed securities and agency debt.
Mortgage rates reacted favorably as this increase was highly anticipated by the markets.
What will not be reacting so favorably are credit cards, home equity loans and other debts where interest rates are attached to Prime as the Prime Rate follows the Fed Funds rate.
PLEASE pull out your credit card statements, and any other debts to do a “checkup” on what your interest rates are. I’m happy to review your credit cards with you to see if refinancing or a second mortgage makes sense for your financial scenario.
Holy cats! My credit card interest rates!
July 15, 2022 by Leave a Comment
I decided to take my own advice that I’ve been dishing out about credit cards and debts. Today I reviewed my credit card accounts to see what my current interest rates are. I’m pretty lucky to have great credit and that I’m able to pay off my debts monthly. [Read more…]
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