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A large percentage of home buyers who purchased their homes between 2002 and 2005 did so with an adjustable rate mortgage (ARM). The rates on ARM loans during that period were extremely tempting, which is partly what led to the large number of homeowners who are currently refinancing ARM loans.
The Obvious Reason for ARM Refinancing
The [...]
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One of the common reasons to refinance a mortgage loan is to change the type of mortgage loan. For example, many home buyers choose an adjustable-rate mortgage (ARM) loan to save money during the first few years of homeownership. But in order to avoid the uncertainty of the ARM loan adjusting, these same homeowners will [...]
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When it comes to mortgage refinance, the first question most people ask is: When is it a good idea to refinance a home mortgage, and when is it not a good idea?
To help you better understand the circumstances that make home loan refinancing a good idea, we’ve compiled a list of reasons most people refinance. [...]
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Previously, I’ve written about subprime mortgage loans, as they relate to the current spike in home foreclosures we are seeing. I even posted a tutorial over at Home Buying Institute to explain the subprime mortgage in greater detail.
Now it seems that subprime lending will be a thing of the past for some major lenders.
A recent [...]
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According to a new article on MarketWatch, the average interest rate on a fixed-rate mortgage has risen to 6.73% (over 6.63% of last week). The article cites good employment numbers from June and credit growth as two possible causes for the rise in mortgage rates.
Article excerpt:
The 30-year fixed-rate mortgage averaged 6.73% for the week [...]
I just read an article on Reuters news network about mortgage lenders stiffening their qualification standards. In fact, a current drop in home sales is being partly attributed to new / tougher qualification standards imposed my mortgage lenders.
What’s the reason for all this?
Well, it goes back a few years actually. You see, many mortgage lenders [...]
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Mortgage Loan Center is proud to launch its new website, which is dedicated to providing consumers with the most comprehensive set of mortgage tools, loan quotes, rates, articles and advice available online. Mortgage Loans IC is a borrower based website for anyone looking to find great mortgage loan rates or simply for those who [...]