6:49 a.m. Well… it’s kind of a live post – I will be updating this post throughout the day. This morning, all eyes are on the FOMC (aka “the Fed”) as we wait to learn how much the Fed funds rate will be adjusted. It is anticipated that the Fed will push the rate 0.500% higher today. This will directly impact loans that are attached to the Prime interest rate, such as home equity loans and many credit cards with variable rates. [Read more…]
LIVE: It’s FED Day! Fed increases rates by a half point.
December 14, 2022 by Leave a Comment
What are Seller Buydowns?
November 14, 2022 by Leave a Comment
“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…]
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…]
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…]
Marry the House. Date the Rate.
June 22, 2022 by Leave a Comment
I can’t take credit for the catchy phrase “Marry the house. Date the rate”. It’s being posted by mortgage professionals and real estate agents all over social media. What does this phrase mean? [Read more…]
Mortgage rates pushing higher
June 14, 2022 by Leave a Comment
Mortgage interest rates have been moving higher at a pace not seen in years. If you’ve been a subscriber to The Mortgage Porter, you may recall that I often say mortgage rates move up much faster than they come down…the jump over the last few days has surprised many. [Read more…]
Mortgage Rates Dramatically Increase
April 5, 2022 by Leave a Comment
Today mortgage rates jumped about 0.25-0.375 in interest rate or about a full point (1% of the loan amount) in fee. Mortgage rates have been trending higher since the beginning of this year. Today’s movement with mortgage rates is a pretty significant increase for one day.
The is largely due to Federal Reserve Governor Brainard stating today that they are going to start rapidly liquidating their balance sheets as well as being more aggressive with increasing the federal funds rate. Combine this with inflation and mortgage rates will continue to push higher. [Read more…]
Mortgage Rates Improve
March 3, 2022 by Leave a Comment
Freddie Mac’s PMMS report released today shows that the average mortgage rates improved last week. EDITORS NOTE: these rates are OLD NEWS! If you would like current mortgage interest rates for your home, please click here.
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