Author: Regan Hagestad

Mortgage Rates Inch Higher

Regan Hagestad October 18, 2016

Freddie Mac’s most recent Primary Mortgage Market Survey shows average fixed-mortgage rates moved higher for the week ending Oct. 8, with average fixed mortgage rates following Treasury yields. “The 10-year Treasury yield continued its climb, as an increasing number of financial market participants foresee a December rate hike after a series of positive economic data releases,” says Sean Becketti, Freddie

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Mortgage Rates Remain Stable

Regan Hagestad October 11, 2016

Average fixed mortgage rates remain largely unchanged ahead of this week’s employment report, according to the most recent Freddie Mac Primary Mortgage Market Survey. “The 10-year Treasury yield leaped to a two-week high following reports of the European Central Bank retreating from its bond-buying program ahead of its initial March deadline,” says Sean Becketti, Freddie Mac’s chief economist. “In contrast,

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Six Ways to Avoid Losing Your Mortgage After Pre-Approval

Regan Hagestad September 26, 2016

Compiling paperwork for a mortgage application often can seem a bit overwhelming, as lenders must document every bit of your income to build a case that you will be able to repay the loan. So, after all is said and done, you definitely don’t want your loan to fall through. To help avoid that from happening, Credit.com offers some tips

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Why Are Rising Incomes Good for the Housing Market?

Regan Hagestad September 19, 2016

Mortgage rates are on the rise, with Freddie Mac reporting this past week that a 30-year, fixed-rate loan averaged 3.50 percent, up from 3.44 percent the previous week. Meanwhile, rates were 3.91 last year during this same time. However, according to the Census Bureau, which released its annual report on Income and Poverty in the United States this past week, the median household

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Low Mortgage Rates Spur Refinancing

Regan Hagestad September 13, 2016

Freddie Mac’s most recent Primary Mortgage Market Survey shows average fixed-mortgage rates moved slightly lower for the week ending Sept. 8, helping to spur ongoing refinance activity. “The 30-year fixed-rate mortgage fell 2 basis points to 3.44 percent this week,” says Freddie Mac Chief Economist Sean Becketti. “As mortgage rates continue to range between 3.41 and 3.48 percent, many are

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Should you get a Piggyback Loan?

Regan Hagestad September 6, 2016

In today’s home-buying market, purchasers often are told they need to make a 20 percent down payment to avoid Private Mortgage Insurance (PMI)—a product that helps protect the bank or investor providing the mortgage from potential losses if borrowers end up defaulting on their loans.   Before the housing crash of 2008, piggyback loans (or 80/20’s) were readily available as

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Mortgage Points: To Pay or Not to Pay?

Regan Hagestad August 30, 2016

When it comes to refinancing or purchasing a home, you might have the option to buy down the interest rate using discount points—or prepaid interest on the mortgage loan. A point is a fee equal to 1 percent of the loan amount. For example, a 30-year, $150,000 mortgage might have a rate of 7 percent but come with a charge

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Should you get a 15-Year Mortgage?

Regan Hagestad August 23, 2016

Thinking about foregoing your 30-year mortgage in favor of a home loan that lets you pay off what you owe in half the time? If you want fewer mortgage payments, less interest over the life of the loan and a lower interest rate, then you might want to consider a 15-year mortgage. According to Trulia.com, here are some reasons you

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Home Builder Confidence Rises in August

Regan Hagestad August 15, 2016

Confidence among the nation’s homebuilders is showing improvement, with the National Association of Home Builders/Wells Fargo Housing Market Index moving up from a July reading of 58 points to 60 in August. Any reading above 50 is considered positive for the index, which gauges builder perceptions of current single-family home sales and sales expectations for the next six months. The

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Mortgage Rates Revert to Near 2016 Low

Regan Hagestad August 9, 2016

Mortgage Rates Revert to Near 2016 Low Treasury yields fell for the week ending Aug. 4 following the Federal Open Market Committee’s meeting and a disappointing advance estimate for second-quarter gross domestic product. According to the most recent Freddie Mac Primary Mortgage Market Survey, mortgage rates—which had increased 7 basis points during the previous three weeks— responded by erasing most of those gains, falling 5 basis points to 3.43

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