Source: CNET —
Today a number of important mortgage rates declined. Let’s see how that could affect your home loan payments.
by Third Party | Oct 21, 2021 | Industry Updates, Mortgage Information, Real Estate Agent Tools | 0 comments
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Today a number of important mortgage rates declined. Let’s see how that could affect your home loan payments.
A few closely followed mortgage rates fell today. Average 15-year fixed mortgage rates climbed, while average 30-year fixed mortgage rates receded. For variable rates, the 5/1 adjustable-rate mortgage fell. Mortgage interest rates are never set in stone, but interest rates are at historic lows. If you plan to buy a house, now might be a great time to get a fixed rate. But as always, make sure to first take into account your personal goals and circumstances before purchasing a house, and shop around for a lender who can best meet your needs.
The average interest rate for a standard 30-year fixed mortgage is 3.17%, which is a decline of 2 basis points from one week ago. (A basis point is equivalent to 0.01%.) The most common loan term is a 30-year fixed mortgage. A 30-year fixed mortgage will often have a higher interest rate than a 15-year fixed rate mortgage — but also a lower monthly payment. You won’t be able to pay off your house as quickly and you’ll pay more interest over time, but a 30-year fixed mortgage is a good option if you’re looking to minimize your monthly payment.
A total of 33,952 residential properties had foreclosure filings in August, up 7% from the previous month but down 2% from one year earlier, according to data from ATTOM.
Nationwide, one in every 4,113 housing units had a foreclosure filing last month.
https://wrenews.com/foreclosure-activity-records-uptick-in-august/
Mortgage application activity went into decline again last week, according to data from the Mortgage Bankers Association (MBA).
The Market Composite Index, the trade group’s measure of mortgage loan application volume, was down by 0.8% #JoelKan #MBA
https://wrenews.com/mortgage-application-activity-down-again/
The Appraisal Institute has launched its Practical Applications of Real Estate Appraisal (AI PAREA) program to expand the depth and scope of the appraiser profession.
The Appraisal Foundation’s Boardof Trustees awarded a $500,000 Pathway to Success
https://wrenews.com/appraisal-institute-debuts-program-to-expand-appraiser-base/
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