Month: June 2017

mortgage borrowers applying in person

Mortgage Borrowers Want Best of Both

Sixty percent of mortgage borrowers recently surveyed by the American Bankers Association (ABA) prefer to apply for a mortgage in person, despite the existence of technology that eliminates the need for human interaction. Just 17 percent prefer to apply for a mortgage online. Only 34 percent consider their knowledge of the mortgage process “above average” or “excellent.” “Banks invest billions

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Mortgage Rates Inch Up After Extended Decline

Freddie Mac’s most recent Primary Mortgage Market Survey shows average mortgage rates increasing across the board for the first time in more than a month. “The 30-year mortgage rate rose 2 basis points over the week to 3.91 percent,” says Sean Becketti, Freddie Mac’s chief economist. “However, our survey was conducted before investors drove Treasury yields sharply lower in a

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Thirty-Year Fixed Mortgage Rate Moves Lower

Freddie Mac’s most recent Primary Mortgage Market Survey shows the 30-year fixed mortgage rate inching lower for the third consecutive week and setting a new low for the year. “In a short week following Memorial Day, the 10-year Treasury yield fell 4 basis points,” says Sean Becketti, Freddie Mac’s chief economist. “The 30-year mortgage rate remained relatively flat, falling 1

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How Much House Can You Really Afford?

A lender can approve you for a mortgage, but that doesn’t mean you will be able to comfortably afford it. Online mortgage calculators can help determine how much house you will be able to afford, but it also is important to consider your personal financial situation. Here, Trulia explains why you can’t rely solely on a calculator to tell you

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