Market update – January 20, 2021

Today is the inauguration day. The question of what President Biden will do to mortgage rates weighs heavily on consumer minds. By analyzing his future goals, experts have concluded that his goal of offsetting inflation and using government intervention to create affordable housing will result in a rise in both tax and mortgage rates. According
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Why did my lender change?

I just closed my loan with ABC lender and I received a letter showing that the loan was sold to XYZ lender?!  What happened?! Did my payment go up? Have the terms changed? Did someone steal my identity and try to get my information? Perhaps you have received this same notice and got all confused.
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Mortgage Rates Continue to Drop

Great news for anyone looking to refinance or purchase a home, the interest rate for a 30-year fixed mortgage has dropped to 4.41%, the lowest level in 10 months! Currently there is more inventories in the housing market which gives buyers a greater selection of homes and bargaining power than in the last couple of
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You may soon pay less for Mortgage Insurance

On June 4th, mortgage insurance companies began to split up and take different routes. With previously unimportant factors reigning over the new system, it’s important to understand what they mean for both buyers and lenders. Mortgage insurance Mortgage insurance is an insurance policy that compensates the lender in the case of a default on the
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rates

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