Mortgage and Real Estate Articles from Mortgage Research Center
Oct 30, 2024 · On Halloween 1981, mortgage rates hit 18% and the typical house payment ate up 73% of a family's paycheck. by Tim Lucas in Real Estate. October 23, 2024 14 MIN.
Why Mortgage Rates Are Climbing After the Trump’s Election Win
1 day ago · Freddie Mac reports that mortgage rates jumped from 6.08% in September to 6.72% just before the election. This increase was initially caused by a stellar jobs report released on October 4. However, rates kept rising in late October in anticipation of a Trump victory, says Fortune. But the fact that rates are rising is obvious by now.
2025 Mortgage Rate Forecast: Experts Weigh In
2 days ago · 2025 Rate Predictions: Coasting to About 6%. Most major forecasts put the final rate in the 6% ballpark, with slight variations. Keep in mind, though, that major agencies often update their forecasts based on new information. Don’t be surprised if these agencies change their tune after recent rate increases. Housing Authority.
What Is an Interest-Only Mortgage, and Is It a Good Idea?
2 days ago · Interest-only mortgages generate interest-only payments for a specified period, helping lower monthly payments. Interest-only mortgage qualification criteria include a minimum credit score, a debt-to-income ratio below 43%, funds for a down payment, steady income streams, and other assets. The risk of payment default due to higher interest ...
Rates Articles - Mortgage Research Center
Oct 31, 2024 · Buying a $350k Home Just Got $300 Per Month Cheaper. Falling mortgage rates have equated to an estimated $300-per-month drop in the mortgage payment on a $350,000 home. by Tim Lucas. August 31, 2024 1 MIN.
A Complete Guide to FHA Refinances: Eligibility, Requirements, …
Aug 23, 2024 · Conventional Refinances. Conventional loans are not insured by a government agency and, as such, have slightly higher requirements than FHA refis. You can expect to need a minimum credit score of 620 and a maximum debt-to-income ratio of 45%. You'll also need at least 5% equity in most cases.
What Is a Mortgage and What Can It Do for You? - Mortgage …
Jun 17, 2024 · Mortgages are secured by the underlying piece of real estate. If a borrower fails to make their payments, the lender can take legal action to gain ownership of the property. They can then sell it to recoup their losses. Without a mortgage, buying a home would require you to save up the entire purchase price.
FHA Streamline Refinance: 2024 Guidelines and Loan Requirements
Feb 7, 2024 · Although most applicants won't encounter credit score or income requirements, there are still some guidelines that you'll need to meet to be eligible for an FHA streamline refinance. Specifically, your existing mortgage must: Be an FHA loan. Be current on its payments. Have been opened at least six months ago.
The 28/36 Rule: How Realistic Is It? - Mortgage Research Center
Jun 20, 2024 · The median home price in the U.S. was over $420,000 in the first quarter of 2024, according to the Census Bureau and Department of Housing and Urban Development. But someone would have to make nearly $150,000 per year to …
How Mortgage Rates REALLY Move With Fed Rates, 10-Year …
May 9, 2024 · Historically, the spread between the two has been around 150 basis points, whereas recently, it has reached 300 basis points (3.0%), so double a “normal” level. Today's 10-year Treasury rate is 4.46%. At normal spreads, the 30-year fixed rate would be around 5.96% -- …
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