Mortgage borrowers often have a choice to pay more up front in points to get an interest rate reduction or save money and accept a higher rate. It’s a choice that more buyers are considering, particularly jumbo borrowers—those who borrow more than $510,400 in most locales. Borrowers should carefully weigh the decision when choosing to […]
Fixed Rates Continue Decline
This holiday season has brought good news for anyone looking to buy a house or refinance a mortgage. According to the latest data released last Thursday by Freddie Mac, the 30-year fixed-rate average dipped to 4.55% with an average 0.5 point. (Points are fees paid to a lender equal to 1% of the loan amount.) It was […]
Home Appreciation: Winners, Losers
Consumer confidence is at a 17-year high, and mortgage rates have been steadily climbing since January. As of mid-March, the U.S. weekly average 30-year fixed mortgage rate was 4.44%, 0.49 percentage points higher than in January. Given that the economy is going strong, Freddie Mac forecasts the 30-year fixed mortgage rate to average 4.9% in […]