Tag: mortgage rates

The Trick To Saving Thousands On Your Next Mortgage: A Rebate

The Trick To Saving Thousands On Your Next Mortgage: A Rebate
Whether shopping for a new mortgage or just refinancing an existing mortgage it really pays to shop around. A couple of weeks ago I posted an article on how to go about shopping for the lowest cost mortgage, laying out a strategy for putting all your options on a level playing field for easy comparison.... Read more »

How To Shop For The Lowest Cost Mortgage

How To Shop For The Lowest Cost Mortgage
I posted a guest article on Using APR (Annual Percentage Rate) To Shop For A Mortgage back in November. The gist of that post was that attempting to compare mortgage costs based on APR can be quite deceptive and the author suggested getting a loan estimate in order to fully understand the costs. However, even comparing... Read more »

Understanding The True Value Of A Lower Mortgage Rate

Understanding The True Value Of A Lower Mortgage Rate
A couple of weeks ago I published a guest post on using APR to shop for a mortgage. In short…it gets complicated. One of the more challenging aspects of analyzing different mortgage options is figuring out the tradeoff between the up front fees and the mortgage rate. In other words…are you better off with lower... Read more »
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Using APR (Annual Percentage Rate) To Shop For A Mortgage

Using APR (Annual Percentage Rate) To Shop For A Mortgage
This is a guest post written by Paul Braker who is a Residential Mortgage Broker working for The Mortgage Marketplace in Mt. Prospect. Paul originates mortgages throughout the greater Chicago area and even provides his home buyers with rebates. Imagine that! The APR (Annual Percentage Rate) reflects the mortgage interest rate, any points, mortgage broker... Read more »

Getting Paid To Get A Home Loan - When Mortgage Rates Go Negative

Getting Paid To Get A Home Loan - When Mortgage Rates Go Negative
You may have heard about how there is now somewhere around $16 Trillion of debt in the world paying negative interest. That means that you have to pay to lend someone money. For instance, you loan them $100 and they pay you $99 back in a few years and you’re happy about it. I don’t... Read more »

What Do Rapidly Rising Mortgage Rates Mean For The Real Estate Market?

What Do Rapidly Rising Mortgage Rates Mean For The Real Estate Market?
Just in case you missed it mortgage rates have really been rising since mid-September when the 30 year fixed rate bounced off of a short term low of 3.78% and has recently hit 4.43%. For historical perspective you can check out the interactive mortgage rate graph below from the Federal Reserve Bank of St. Louis... Read more »
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The Federal Reserve Is Not Raising Mortgage Rates This Week

The Federal Reserve Is Not Raising Mortgage Rates This Week
The Federal Reserve starts their Open Market Committee meeting tomorrow and the futures markets are basically giving an interest rate hike a 79% probability (as of last night). So, “interest rates” are going up and that means mortgage rates are going up and that means people will have to buy cheaper houses and that means... Read more »

Why I Bought A Home Now After Renting For 12 Years

Why I Bought A Home Now After Renting For 12 Years
Realtor’s Home Purchase Ensures That Chicago Home Prices Will Crash On Friday, after renting for 12 years, my wife and I became homeowners for the 4th time. Obviously buying a home in Chicago was not a decision that we entered into lightly. When we first arrived in Chicago in 2000 we suffered from major sticker... Read more »

How Low Mortgage Rates Should Change Your View Of High Assessments

A couple of years ago I did an analysis of the tradeoff between assessments and purchase price when buying a condo. In that analysis I concluded that with mortgage rates of 5% a condo assessment that is lower by $100 per month would allow you to purchase a condo that costs $41,311 more. In other... Read more »
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A New Twist On Mortgage Rates - More Record Lows?

Just how low can mortgage rates go? It’s been incredible how mortgage rates just keep hitting new record lows every week. The last data I have shows the 30 year at 4.09%! And for over a year now I’ve been thinking that mortgage rates would spike up at any minute. I even tried locking in... Read more »