A good tool to help you understand how loans may differ from each other is the Annual Percentage Rate or APR.  The Federal Truth in Lending law requires mortgage companies to disclose the APR when they advertise a rate.  It is designed to represent the true cost of the loan to the borrower, expressed in [...]

Generally speaking, the shorter your lock, the less it costs.  If you want to lock your rate for longer time, it will usually cost more money because a lender takes on risk to guarantee that rate for you.  So yes, generally a 30-day lock would be less, but 15 days would be even less.  Less [...]

There’s no two ways about it:  Mortgage rates are low right now.  In fact, they’re lower than they’ve been in decades, making this not only a great time to consider buying a home, but also an opportune time for homeowners to refinance.  But is refinancing always the right thing to do?  It depends. When interest [...]

Interest rates for 15-year fixed-rate mortgages (FRMs) and five-year adjustable-rate mortgages (ARMs) are at the lowest levels in the history of Freddie Mac’s weekly mortgage rate survey.

2009-08-17 — examiner.com ” Whether you are buying a house, an investment property, or refinancing a current mortgage, there is a long list of variables that determine what rates you will pay. In addition to considering rates, there are still many types of loans available, each with their own eligibility criteria, that can affect your [...]

Since spiking from 4.8% to nearly 5.8% in June, the national average 30-year fixed mortgage rate has stabilized in the 5.25% to 5.35% range.

The bankrate.com survey of lenders predicts rates will remain unchanged for the next 30 days.  The group’s 30-day prediction for mortgages rates: 27% predict mortgage rates will increase 27% predict mortgage rates will decrease 46% predict mortgage rates will remain unchanged