Category: Mortgage

What’s Impacting Today’s Rates? Today’s mortgage rates are lower. This morning, December Pending Home Sales declined 2.5% from October, below the consensus for an increase of 0.5%. As a mortgage rate shopper, it’s important to know when today’s rates are changing. This is because, when mortgage rates change, mortgage lenders will not honor rate quotes which have not been previously “locked”. To lock today’s mortgage rates, then, be sure to commit with your lender before current rates begin to move. Whether you’re…

Which Mortgage Rate Surveys Are Best? It’s hard to window shop for mortgage rates anymore. Markets have changed and so do rates — sometimes four or five times per day. So, when you’re looking for “ballpark mortgage rate”, where do you do turn? A great mortgage lender will want your information before giving you a quote, because great lenders know rates depend on factors like loan amounts, property types and credit scores. And, bad lenders — well, nobody wants to work with…

Qualifying For A Mortgage Is Not Mysterious As an applicant, qualifying for a mortgage can be an unnerving experience. Before trusting you with their money, lenders seem to probe every corner of your life. What are they looking for? More importantly, what sort of black mark prompts underwriters to grab their “DECLINED” stamps? It’s actually a fairly transparent process. Let’s explode some of the myths and uncover what really counts. Click to see today’s rates (Dec 28th, 2016) Race And Color The standard home loam…