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Mortgage

2019 Mortgage Rates Were Lowest in Nearly 50 Years

2019 Mortgage Rates Were Lowest in Nearly 50 Years   The interest rate for the 30-year fixed-rate mortgage averaged 3.9% for 2019, the fourth lowest annual average since 1971, according to Freddie Mac. For 2020, Freddie’s outlook mirrors that of the real estate industry’s top economists, who discussed their predictions at […]

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Understanding Mortgage Basics

Many Americans begin looking for a home to buy without understanding the fundamentals of applying for a mortgage or what it takes to qualify for one, according to a new survey by Ally Home, a direct-to-consumer mortgage business. Ninety-two percent of the more than 2,000 U.S. adults who responded to […]

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Conforming Mortgage Limits Rise for 2017

The federal government is increasing the limit for conforming mortgages from $417,000 to $424,100 in most regions of the United States starting Jan. 1, 2017, the Federal Housing Finance Agency announced Wednesday—the first such increase since 2006. The approximately 1.7 percent bump in the baseline conforming loan limit follows the […]

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FHA Condo Financing Changes: What to Know

First-time buyers as a share of the housing market continues to lag, and with interest rates potentially going up as soon as December, things could potentially get worse before they get better for households trying to get into the market. There are many reasons for the drop in first-time buyers—strong […]

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Why Buyers May Find Mortgages Easier to Get

Good news for potential home shoppers: A Mortgage Bankers Association index shows lender requirements regarding credit scores, down payments, and other key terms are finally loosening up. Some lenders are even expanding the types of mortgages they offer. These moves come after years of lenders tightening loan requirements in the […]

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