Month: January 2017

Getting a Down Payment as a Gift? Avoid these Mistakes

When buying a home, many people ask their parents or other sources for help coming up with the down payment. But this often isn’t as simple as just asking and then receiving the money. If you’re going to do it, you’d better do it right. According to, here are some tips that can help you avoid mistakes if you’re considering

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Mortgage Rates Move Lower

Freddie Mac’s most recent Primary Mortgage Market Survey shows average fixed mortgage rates moving lower for the third consecutive week. “After trending down for most of the week, the 10-year Treasury yield rose following the release of the CPI report,” says Sean Becketti, Freddie Mac’s chief economist. “In contrast, the 30-year mortgage rate fell three basis points to 4.09 percent,

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How to Make an Extra Mortgage Payment in 2017

Working to shorten the total time until your mortgage is paid? According to, making one extra mortgage payment a year can save years of payments down the road. For example, if you’re paying back a $150,000 mortgage with a 4-percent interest rate, you can expect to pay off your mortgage by January 2047 when following a standard 30-year payment

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Homebuyers Will Look for Less Expensive Homes if Mortgage Rates Reach 5 Percent, Redfin Agents Report

Home prices were up almost 8 percent in November compared with the previous year, inventory has declined and mortgage rates have started to rise. Despite rising rates and falling inventory, however, Redfin agents report homebuyers still are optimistic. In a recent survey of more than 800 Redfin real estate agents across the country, respondents were asked to describe the general

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Rising Mortgage Rates: Homebuyers Are More Resilient Than You Might Think

The average 30-year fixed-rate mortgage is hovering around 4.16 percent, while the Federal Reserve has raised the federal funds rate for the first time in a year, and only the second time this decade. How does this affect homebuyers? Redfin predicts that rates won’t average above 4.3 percent in 2017. But what if rates were to continue to rise? Very

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