What does this mean for my mortgage? I am getting a flood of texts, emails, and voicemails. Although the Fed lowered the PRIME RATE, they did not just drop mortgage rates to 0%. Short-term debts are based on prime; auto loans, credit cards, HELOCs, and other short-term debt. Mortgage rates are based on mortgage backed

Literally anyone who has received a mortgage in the past 50 years can find a better rate now! Current mortgage rates, as you may have heard, are dropping as a direct result of the worries about the Corona-Virus pandemic. The fact that it’s spreading makes it worse for people but better for borrowers. The major

This is a very popular question. A survey from Bankrate shows that the average borrower is paying 4.41% for their mortgage, instead of the market price of 3.7%. As an example a $300,000 mortgage with 30-year fixed rate, has a $125 monthly payment difference between these two rates.  Over the lifetime of the loan that

The benefit of a 15-year fixed rate plan is a much lowered interest rate, comparing with a 30-year fixed rate plan. The mortgage interest rates are holding steady with very favorable terms for buyers and homeowners. It generally feels strange to refinance from a 30-year mortgage to a 15-year one, but this unconventional transition offers

The tax law effect on your mortgage The tax laws that were enacted in 2017 have changed the tax benefits of many homeowners; a maximum limit of state and local taxes was set at $10,000, and the standard deduction was increased to $12,000 for single filers and $24,000 for people married and filing jointly. Now