Found 4 blog entries tagged as Mortgage rates.

your mortgage rate and points

What affects your mortgage rate?

Your mortgage rate depends on many factors, like your property location, the economy, and loan size. One really influential factor is the amount you pay for your home loan. And fortunately, it's a variable over which you have complete control.

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When you pay more to have a lower rate, this is called "buying down" your mortgage rate, and the fees you pay are called "points." each point is one percent of the loan amount.

How do points drive your mortgage rate?

The relationship between your mortgage rate and its costs is an inverse one. When other factors are equal, a loan with higher fees has the lower interest rate. Home loans with lower rates are obviously more desirable, so…

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your mortgage rates loan features

Why a loan's features change your mortgage rate

Your mortgage rate depends on many factors like the economy, your credit scores, the kind of property you're purchasing, and others. One factor that you have a lot of control over is the loan you select -- it's features and terms.

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What features affect your mortgage rate?

Features can shift risk from you to the lender, which increases your price, or from the lender to you, which drops it. For example:

  • Rates that are initially fixed but then reset
  • Interest-only payments
  • Terms ranging from five to 40 years or longer
  • Prepayment penalties
  • Cash out refinancing

We'll look at how much each of these features adds or subtracts from your mortgage…

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It's The Perfect Time To Find An Affordable Home

Homes Are Very, Very Affordable Right Now

Affordability is at one of its highest points in a generation.

It just doesn't seem like it.

Home prices are up nearly 6% since last year, and analysts predict another 5% jump in 2017. Plus, mortgage rates are at levels not seen since 2014.

Surely this can't be an affordable housing market.

Except that it is.

That's the conclusion from First American, a real estate title insurance provider and creator of the First American Real House Price Index (RHPI). The index -- one of the few of its kind -- considers not only nominal home prices, but also income levels and mortgage rates, too.

The result: home prices are 33% more affordable today than they were at the height of the "bubble" in 2006.

…

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