The one-two punch of strong job and consumer credit growth drove rates on mortgages up to their highest mark since Aug. 2. The common 30-year fixed-rate mortgage was at 4.6% this week, as the 15-year hit 4.06%. The 5/1 adjustable-rate mortgage was 3.93%. Rates on mortgages increase for third ... » Learn More about Rates on mortgages increase for third consecutive week
Interest Rates
Why 2018 is the perfect year ever to get a low down payment mortgage
First-time buyers must take action now before conditions change. This year might just be the best of all time for first-time home-buyers to make use of a low down payment mortgage to leap from renting to owning. Either simply because they don’t have knowledge of low down payments or don’t ... » Learn More about Why 2018 is the perfect year ever to get a low down payment mortgage
Fannie, Freddie delay new credit scoring systems
Have you been looking ahead to the long-anticipated news that the two dominant players in the home mortgage arena - Fannie Mae and Freddie Mac - finally made the decision to overhaul their outdated credit scoring systems to increase home-ownership opportunities for a broader array of consumers, ... » Learn More about Fannie, Freddie delay new credit scoring systems
Quite a few people today don’t fully understand credit ratings
Consumers' understanding of credit ratings eroded during the last year, as reported by the seventh annual credit score survey, released by the Consumer Federation of America (CFA) and VantageScore Solutions, LLC. For instance, fewer people knew that credit ratings can be used by companies that ... » Learn More about Quite a few people today don’t fully understand credit ratings
What is an outstanding credit rating?
An outstanding credit rating could work wonders for your finances. Not only can it improve your chances of getting approved for a loan, however the better your score, the more favorable an interest rate you'll snag. What is an outstanding credit rating? And if your credit rating ... » Learn More about What is an outstanding credit rating?