Mortgage Industry News
The History Of The Mortgage Rate
Mortgage rates continue their upward trajectory as the Federal Reserve continues their pointed and aggressive response to stubborn inflation, with weekly U.S. average at 6.73% as of 3/8/23. This means that would-be homebuyers are continuing to face challenges of...
Cost Of Living Comparison Calculator
Source: Bankrate --- The cost of living is the total amount of money required to live in a certain area and cover your basic necessities. Expenses typically factored into cost of living calculations include housing, food and taxes. It may also include such expenses...
Fixed-rate mortgage bomb set to go off
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 the...
Should I pay off my mortgage or use the money for a deposit on a second property?
Source: The Guardian --- Q I’m a 42-year-old full-time professional and in a rather fortunate but tricky situation, which I would like your help with. My seven-year fixed-rate mortgage is coming to an end on 2 May 2023, after which I am not sure whether I should...
The 7 Best Reverse Mortgage Alternatives
Source: Entrepreneur --- Reverse mortgages let older homeowners cash out their home equity without selling their residences or taking on debt payments. However, the loans have costs and eligibility restrictions that can cause other solutions to be more favorable. If...
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