Mortgage rates are decreasing. The average 30-year fixed rate has dropped by 83 basis points over the last six months, according to Zillow, and is now 5.90%. The 15-year fixed rate has fallen by 59 basis points during this time, currently sitting at 5.36%. Now could be a great time to buy a house or … Read more
Today’s mortgage rates are significantly lower than last January’s rates. This time last year, the average 30-year fixed mortgage rate was over 7%, according to Freddie Mac. Now, the year-over-year 30-year rate has dropped 98 basis points to 6.06%. This is a good time to shop for the mortgage lender offering the best deal and … Read more
Your income can play a significant role in your home-buying prospects, influencing not only your budget, but also your ability to qualify for a mortgage. To know whether you’re well-positioned to take out a $500,000 mortgage loan, you’ll need to take a look at your income. The monthly payment on a $500,000 mortgage depends on … Read more