Author: Regan Hagestad

Mortgage Rates Steady to Begin February

Regan Hagestad February 7, 2017

Freddie Mac’s most recent Primary Mortgage Market Survey shows average 30-year mortgage rates holding steady after rising the previous week. “The 10-year Treasury yield fell 5 basis points this week following a tepid advance estimate of fourth-quarter GDP and the Fed’s decision to leave rates unchanged,” says Sean Becketti, Freddie Mac’s chief economist. “The 30-year mortgage rate remained flat at

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Getting a Down Payment as a Gift? Avoid these Mistakes

Regan Hagestad January 30, 2017

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 Realtor.com, here are some tips that can help you avoid mistakes if you’re considering

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Mortgage Rates Move Lower

Regan Hagestad January 23, 2017

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

Regan Hagestad January 17, 2017

Working to shorten the total time until your mortgage is paid? According to Trulia.com, 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

Regan Hagestad January 10, 2017

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

Regan Hagestad January 3, 2017

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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WalletHub’s 10 Predictions for 2017

Regan Hagestad December 27, 2016

As 2016 draws to a close, WalletHub has made its economic predictions for 2017. Based on the current economic recovery and the inauguration of a new president, here are 10 important developments expected in the new year. U.S. GDP growth will remain at 2.1 percent The U.S. economy is expected to end 2016 having grown by about 1.75 percent, and

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Mortgage Rates Move Higher

Regan Hagestad December 19, 2016

Freddie Mac’s most recent Primary Mortgage Market Survey shows average fixed mortgage rates moving higher for the seventh consecutive week. “As was almost-universally expected, the Federal Open Market Committee (FOMC) closed the year with its one and only rate hike of 2016,” says Sean Becketti, Freddie Mac’s chief economist. “The consensus of the committee points to more rate hikes in

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How to Secure the Best Possible Mortgage Despite Rising Interest Rates

Regan Hagestad December 13, 2016

The election of Donald Trump has had a major influence on interest rates, with rates on 30-year conforming mortgage increasing by more than 50 basis points to levels the public hasn’t seen in more than two years. In real terms, the movement in rates so far has increased mortgage payments by 7 percent. On a median-price home, that shift amounts to more than

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Quick Ways to Boost Your Credit Score

Regan Hagestad December 5, 2016

Thinking about buying a house, but your credit score doesn’t quite meet the required standard? You’re not alone. Half of the nation’s consumers have the desired 700-plus credit score, while the average is 695. And while you can obtain a mortgage with scores in that range, you’ll need a 740 or above to get the optimal rates. If you’re wondering

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