Source: The Motley Fool — When you purchase a home you are going to have to pay closing costs. These are fees for things like mortgage origination and transfer taxes. And they can be quite expensive. In fact, you can expect to pay around 2% to 5% of the value...
Source: US News Money — Mortgage rates surged higher this week, according to Freddie Mac, continuing a monthlong trend of rate increases. The average interest rate on a fixed 30-year mortgage is the highest it’s been since 2008, at 5.89%. For the 15-year...
Source: Fox News — North Carolina-based Bank of America recently came under fire over a reported plan to offer zero-down mortgages in minority communities, with some critics lodging complaints over the racial aspect, while others warned it reminded them of the...
Source: Housing Wire — The premise of a mortgage rate lockdown is simple: so many American households have such low mortgage rates that some will never move once rates rise, which then locks up housing inventory. This is something I’ve never believed in because...
Source: Mortgage Introducer — Bridge to let mortgages work well for homebuyers who would be unable to afford a property using a traditional mortgage. But what is bridge to let finance? Who does bridge to let work best for and what are the main advantages? Here...
Source: Elite Agent — Thousands of borrowers on fixed-interest home loans are facing an interest rate “cliff” and could be plunged into mortgage stress by the end of the year. According to Finder, $29.8 billion worth of fixed-rate mortgages are due to expire by...
Hits and Misses for the Real Estate Week of April 6-10
