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Should I Refinance My Mortgage?
Source: Buy Side from WSJ--- For most people, the prime reason to refinance a mortgage is to lower their interest rate and monthly payments. So, when mortgage rates dipped to record low levels early in the coronavirus pandemic, refinancing activity soared. Right now,...
This is why you need a mortgage pre-approval before shopping for a home
Source: CNBC --- If you’re ready to begin your home shopping journey, make sure you get a mortgage pre-approval first. A mortgage pre-approval letter is an essential step in the homebuying process. Without pre-approval, it might be difficult to determine your budget....
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Today’s Mortgage Rates, August 31, 2022 | Average Rate on Cusp of 6%
Source: Time --- In 2022, mortgage rates rose nearly to levels not seen since before the pandemic, after nearly two years of record-low rates. The refinance or purchase of your home doesn’t have to be put on hold. Although rates are higher than they were last year,...
Bank of America aims mortgages, CRE loans at women and minorities
Source: American Banker --- Two new Bank of America lending programs seek to promote homeownership among minority borrowers as well as incentivize economic development in disadvantaged communities. One is a pilot program that would offer mortgages to Black and...
Reverse mortgages: Pros and cons explained
Source: CBS News --- Are you looking for ways to increase your cash flow in retirement? If you own your home (or most of it), a reverse mortgage may be able to help. It can eliminate your existing mortgage payment and generate a regular source of income. However,...
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