As mortgage rates are hitting a 21-year high there are signs of the housing market cooling down.  Many experts predict that home prices will slump over the next few months, reaching a low around January. If you are in the market to purchase a home, there are currently many advantages in the current market, such

Headlines have been focusing on the average 30-year interest rate topping 6% which was at this same level 14 years ago. Many are comparing the current housing market and the economy to 2008. Back then, the 6% was a good thing—it was a drop from the 7%, and, combined with dropping home prices, made purchasing

Many have held off on getting a mortgage this week as the 30-year fixed mortgage rate has increased to 6.02%. The spike in rates is expected to slow down, but like all predictions made in the past, it’s equally as likely to head into a year-long era of 6-8%. Buyers will experience higher mortgage payments

  The average 30-year mortgage fixed rate was 4.99% in the end of July, making this week’s average 30-year mortgage fixed rate of 5.5% seems a big jump.  Based on Fed’s minutes released this week, the Fed will continue to increase rates until the rate of inflation is significantly eased.  This announcement created some jitters

What is PMI and what does it do?  PMI is extra money that you pay for the lenders benefit. Private Mortgage Insurance protects the lender in case of mortgage default and the home goes into foreclosure.  Lenders require PMI when the loan amount is greater than 80% of the value of the home.  Depending on the percentages