Welcome to Mortgage Guide
Premier Mortgage Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Playing Mortgage Rate Roulette
from:Mortgage rates are rising due to more demand for mortgage products. Even though the Federal Reserve has tried to influence the home mortgage industry by leveraging the discount points charged to lenders, it’s not a one-to-one relationship. Mortgage rates are more susceptible to supply and demand of the actual mortgage products and competition between lenders, rather than some arbitrary rate the Federal Reserve charges bank who are borrowing money. So, there really isn’t a real way to time your entrance into the home buying market by waiting for interest rates to drop. Instead, they may rise no matter what the Federal Reserve does to try to influence the markets. On the other hand, they could drop but there’s no way to tell until after the fact. So, if you want to buy a home, don’t play mortgage rate roulette. Instead, take the long-term view and realize that no matter what happens this may be an ideal time to buy a home if you have great credit.
Historically Low Mortgage Rates
If you take a look at how the mortgage rate offered by lenders has changed over the years, Bankrate.com estimated that the average 30-year fixed rate during the last 22 years was 7.99 percent. That’s because in the decades of the 80’s and 90’s rates were much higher than they are today. We only started to see less expensive rates being offered in the years in the 2000’s. So, while you may not get the best rate possible (if rates drop), historically you will probably get a better deal than many in the years past. So, if the rate inches up a small percentage, it may cost you more in the long run to finance your mortgage, but you will still pay less than if you had done it in the 80’s and 90’s.
Locking in the Rate
In fact, there is probably more likelihood that mortgage rates might increase as the economy starts to recover and demand for mortgage products increase. Of course, this may be a few years down the line, but you can always lock in your rate when you qualify for the loan. This is one way people help to take the worry out of mortgage rates increasing while they are looking for a home. Instead, they qualify for a mortgage first, lock in the rate, and buy the house in the period of time allotted by the rate lock. It makes looking for a home a little less stressful when you already know what you will be paying and for how long.
Premier Mortgage Specific links
Premier Mortgage News
Second Chance Financing Offered Through Premier Mortgage Lending
Nevadans who have experienced a short sale or foreclosure are not necessarily locked out of buying a home at current low housing prices. Opportunities exist through private lending programs such as Premier Mortgage Lending's Another Chance Loan Program. "There
Read more...AccessBanc Mortgage Says HARP 2.0 Can Help Underwater California Homeowners
The Bay Area’s premier mortgage broker highlights how HARP 2.0 changes can help owners of financially underwater California homes refinance their mortgages at today’s low interest rates.San Jose, CA (PRWEB) April 26, 2012 According to Bay Area mortgage broker AccessBanc Mortgage, certain changes in the Home Affordable Refinance Program (HARP) can help homeowners with mortgages for more than the ...
Read more...Myers Internet Discontinues Websites: LeadPress Launches Myers Migration Program to Painlessly Move Myers Clients to a ...
LeadPress, the premier provider of mortgage lead generation websites in the United States, has announced a Myers Customer Migration Program to seamlessly move Myers clients to a new website as fast and painlessly as possible, while waiving all setup fees. Myers Internet recently announced that it was shutting off service to its clients as of September 1, 2012.San Diego, CA (PRWEB) May 21, 2012 ...
Read more...David E. Tucker Named President of PHH Mortgage
PHH Corporation today announced that David E. Tucker has been appointed President of PHH Mortgage Corporation , the Company’s mortgage origination and servicing subsidiary.
Read more...National Family Mortgage Wins Big for Peer-to-Peer Lending Website
BOSTON, MA-- - National Family Mortgage , America's premier peer-to-peer lending solution for home loans between relatives, today announced that it has won a prestigious Communicator Award as judged by ...
Read more...