Categories for Mortgages

Deciphering Interest Rates and APR: Unveiling the Complete Picture of Borrowing Costs

Deciphering Interest Rates and APR: Unveiling the Complete Picture of Borrowing Costs In the realm of securing a mortgage, many homebuyers fixate solely on the interest rate, overlooking crucial aspects of borrowing costs. While the interest rate is pivotal, it doesn’t encapsulate the entirety of borrowing expenses. Enter the Annual ...

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Mortgage Rates Tick Down

February 1, 2024 Although affordability continues to impact homeownership, the combination of a solid economy, strong demographics and lower mortgage rates are setting the stage for a more robust housing market. Mortgage rates have been stable for nearly two months, but with continued deceleration in inflation, rates are expected to ...

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What Lower Mortgage Rates Mean for Your Purchasing Power

What Lower Mortgage Rates Mean for Your Purchasing Power If you want to buy a home, it’s important to know how mortgage rates impact what you can afford and how much you’ll pay each month. Fortunately, rates for 30-year fixed mortgages have come down significantly since the end of October and are currently ...

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Today’s update on the 30-year Fixed Rate Mortgage Average

Mortgage Interest Rates Update 📈🏠 As the new year began, mortgage interest rates remained almost unchanged. Following a gradual decline over 9 weeks, rates experienced a slight uptick from 6.61% to 6.62%. This minimal weekly change translates to just a $2 increase in the typical monthly payment for a $400,000 ...

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Mortgage Rates Continued Their Decline This Week

Heading into the New Year, Mortgage Rates Remain on a Downward Trend December 28, 2023 The rapid descent of mortgage rates over the last two months stabilized a bit this week, but rates continue to trend down. Heading into the new year, the economy remains on firm ground with solid ...

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Mortgage Rates Continue to Slide Down

Mortgage Rates Continue to Slide Down June 22, 2023 Mortgage rates slid down again this week but remain elevated compared to this time last year. Potential homebuyers have been watching rates closely and are waiting to come off the sidelines. However, inventory challenges persist as the number of existing homes ...

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Mortgage Rates Increase Slightly

February 9, 2023 Freddie Mac Primary Mortgage Market Survey Following an interest rate hike from the Federal Reserve and a surprisingly strong jobs report, mortgage rates increased slightly this week. The 30-year fixed-rate continues to hover close to six percent, and interested homebuyers are easing their way back to the ...

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Interest Rates Today: Compared to Last Few Decades

Michael Mahoney RealtorMikeMahoney.com 617.615.9435 Although the mortgage rates today are certainly higher than they have been, they are still historically lower than they have been over the last few decades.   If you are a seller, I would still not worry rates impacting the pool of buyers out there. There ...

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