The average rate on a 30-year mortgage is now just over 4 percent (Credit: iStock) The national housing market may see its best home-buying season in years. Trends like falling mortgage rates, rising home inventory and slowing home-price growth mean fewer bidding wars and more price cuts for buyers, the Wall Street Journal reports. The […]
Home-builder shares are bouncing back thanks to lower mortgage rates
Stronger performance stems in part from higher household confidence amid lower borrowing costs (Credit: Pixabay and Wikipedia) After a year of decline, home-building companies are getting a boost. Shares of home-building companies are on track for their best quarter in seven years, the Wall Street Journal reported. The SPDR S&P Homebuilders exchange-traded fund — which […]
Buyers can reap savings as mortgage rates slide — but it’s not all good news
The average rate on the 30-year fixed dropped to 4.34 percent from 4.40 percent (Credit: iStock and Pixabay) After the Federal Reserve’s most recent announcement, mortgages rates tumbled — and they may keep falling. The Fed said that it would get back into bond buying, causing rates to fall, CNBC reported. The average rate on […]
Your FICO score is not your mortgage destiny
(Credit: iStock) The higher your credit score, the lower the interest rate quote you’ll get on your mortgage, right? As a general proposition, sure. But how much of a rate benefit are you really likely to get with your super-high 800-plus FICO score compared with someone with a much lower score? You might be surprised. […]