Tag Archives: fixed rate loan

70% of all home-loan applications in the first half of this year were for refinancings

Most home loan apps this year are not for new home purchases. The housing market remains sluggish despite these record low interest rates. If you pay discount points upfront, you can get even lower rates. This only makes sense if … Continue reading

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Mortgage Interest Rates Hit 50-Year Low!

Despite these record low mortgage interest rates, why aren’t I making more money with this website? Judging by my advertising revenues, there’s little demand for mortgage customers right now. Lenders aren’t shelling out big backs to advertise. They’re probably keeping … Continue reading

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The Benefit Of A Biweekly Mortgage

If you make your payments twice a month instead of once a month, all things being equal, you’ll pay off your mortgage in significantly less than half the time. Conventional 30-year fixed rate mortgages are increasingly hard to get. In … Continue reading

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Mortgage Refinance Paperwork Shock

If you refinanced your mortgage prior to 2008 and are now looking at doing it again, you’re going to be in for a shock. There’s a lot more paperwork required. There’s more substantial proof of income required. And in all … Continue reading

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Mortgage Applications Boom As Rates Dip

Mortgage rates are at 2011 lows. Home prices continue to fall. Some people are stepping into the home buying market while others wait, expecting another 10% drop in home prices over the next year. Report: The mortgage rates have actually … Continue reading

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What’s So Special About The 30-Year Fixed Rate Mortgage?

I don’t get why the government has to interfere so much with the housing market. It was the most solid investment one could make. Now that’s all gone up in smoke. If someone wants to rent or own or to … Continue reading

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Mortgage Rates Hit Six-Month High

Ever since Monday when President Barack Obama announced a deal with the Republicans on tax cuts and an extension of unemployment benefits, bond yields have jumped more than at any time since Lehman Brothers went bankrupt. This has led to … Continue reading

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How Long Do You Want To Stay In Your Home?

Mortgage rates are near record lows. If you have equity in your home, you might want to refinance or take out a home equity line of credit (HELOC). Or you might want to secure a fixed-rate loan. Or you may … Continue reading

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What’s Wrong With Obama’s HARP?

The Wall Street Journal reports that the lofty program has not done much good in the real world. HARP (Home Affordable Refinance Program) refinance applications are complicated for banks to process. They’re having a hard enough time keeping up with … Continue reading

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Refinancing Too Much Hassle For Many

Steve Rosen writes that the documentation needed to refinance is ridiculous and in the end, he decided it was too much bother. Yes, you can get a lower interest rate and consequently lower monthly payments if you can pull it … Continue reading

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