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mortgage interest rates: Shopping APR (annual percentage rate) vs Interest Rate in New Jersey - 06/22/11 09:53 AM
APR vs Interest Rate – Shopping properly
Shopping for interest rates in New Jersey aka shopping for mortgages in New Jersey, can be confusing, especially when shopping for an interest rate and shopping for APR at the same time. The borrower needs to properly know and understand the differences. It can even be more confusing when you hear different opinions from different so-called experts.
What is most common taught or thought of? Shop interest rates. Shop and compare the APR (annual percentage rate). Shop fees. So which is it?
Let’s define both Interest Rate and Apr. – This comes … (8 comments)
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mortgage interest rates: Mortgage Market Report - Mortgage Interest Rates hit historic low for 2011 - 06/03/11 10:23 AM
Mortgage Market Report - Interest Rates hit historic low for 2011 As of yesterday, mortgage interest rates were hitting historic lows for 2011. Today was the key focal point if rates were to continue to go lower based on non-farm payrolls and on unemployment. As of this morning, the news is reporting that non-farm payrolls only increased by 54,000 in May, significantly less than 150,000 increase that the economists had been expecting. Regarding the private sector, private employers only added 83,000, instead of the 180,000 that was anticipated. And unemployment rose from 9.0% to 9.1% the month prior.
Depending on your credit … (5 comments)
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mortgage interest rates: Mortgage Interest Rates ~ Mortgage Market Reports for October 27th, 2010 ~ - 10/27/10 11:29 AM
Mortgage Market Reports
We keep hearing reports that Mortgage interest rates are still be very low, ranging from 4.00% to 4.50% for a 30 year fixed rate. This is all dependent on your credit scores, your down payment (usually just on a conventional mortgage), the size of your loan amount, and the type of mortgage program. And if you want 3.875%, you just have to pay some points.
I am sure many of us have been extremely use to the low rates in the last 6 months, to where we have reached record lows since interest rates were … (7 comments)
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mortgage interest rates: Mortgage Interest Rate vs Mortgage Payment - 10/22/10 12:45 PM
Mortgage Interest Rates - One of the first things a borrower wants to know is what mortgage interest rate the lender has to offer. And for the fact that many want the lowest interest rate. Okay, it's all human nature. But what's missing? It certainly can be a balancing act when you are trying to get the lowest interest rate when your main focus should be about your actual mortgage payment. One of the first questions that should be asked is what kind of mortgage payment you would be comfortable with, or at least a range. I have been criticized by … (5 comments)
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mortgage interest rates: The Deep Secrets of locking interest rates - Mortgage Interest Rates in New Jersey - Locking your Home Interest Rate - 10/20/10 10:29 AM
Information on locking your mortgage interest rate, securing that home interest rate, can be very important at times. This information should be given to the borrower when shopping for a mortgage. What I know is that not all loan officers or lenders are on the same playing field when giving you such information to when and how you can lock your mortgage interest rate.
Current interest rates are at an all time low. Many are seeking a low interest rate and this is usually the first thing on the borrowers mind. Your focus should not be on the … (17 comments)
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mortgage interest rates: FHA Loans vs Conventional Loans - Comparing 20 percent down - Eye opening - 10-11-10 - 10/11/10 10:31 AM
FHA loans have been the major talk in the news as of lately. One loan officer e-mailed me the other day, asking if FHA is going away. I asked, how did you come up with this? Because three realtors had mentioned it to them. I have not heard a thing, but let's use common sense. If FHA loans would go away, then the housing market would crash for good. Just my opinion.
Just the other day, a realtor made a comment stating that the buyer was better off putting their 20 percent down with a conventional mortgage and not … (12 comments)
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mortgage interest rates: How to find a great mortgage interest rate in New Jersey or any other state...... - 09/21/10 04:04 PM
Shopping for that best interest rate. First off, you need to be careful when using the term best, because we always want the best of anything. Remember these two old sayings? "You get what you pay for" or "If it's to good to be true, that it might not be true."
Well, the same could be said when shopping for that mortgage interest rate. I read an article last week that disturbed me some, because I felt it left some important information out. It started out that you should deal with a mortgage broker instead. Here is his … (10 comments)
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mortgage interest rates: Mortgage Interest Rates - up up and away..... ~ Mortgage Market Reports for September 10th, 2010 ~ - 09/10/10 05:17 PM
Mortgage interest rates continue to still be very low, ranging from 4.00% to 4.50% for a 30 year fixed rate. This is all dependent on your credit scores, your down payment, the size of your loan amount, and the type of mortgage program. And if you want 3.875%, you just have to pay some points.
I am sure many of us have been extremely use to the low rates in the last 6 months, to where we have reached record lows since interest rates were first recorded back in 1971. But don't get to comfortable, because what comes down … (3 comments)
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mortgage interest rates: FHA Loans vs Conventional Loans - Proof that FHA home loans with 5% down after major change are still cheaper 09-01-10 - 09/01/10 12:39 PM
FHA loans have been one of the main focal points in today's real estate transactions. Two main reasons for this is that it comes to the down payment and the credit scores. In the past, some loan officers were using other types of financing that were easier for them, but not suited best for the borrower. What I do hate hearing is that FHA mortgages have taken the spot of the subprime loans. This is not true at all. This statement is very misleading. Many subprime loans should have gone FHA and that is just a fact.
But why … (5 comments)
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mortgage interest rates: Mortgage Interest Rates - Mortgage Market Reports - July 23rd, 2010 - 07/23/10 09:20 PM
Mortgage interest rates continue to still be very low, ranging from 4.25% to 4.75% for a 30 year fixed rate.
So why are interest rates so low? Some investors on Wall Street fear a double dip recession approaching. And these investors will seek more stability in buying bonds, such as the MBS's, Mortgage Backed Securities. By buying more MBS's, this can control the interest rates. Another reason is because earlier this week Treasury auction bids rose to 18% to record as investors surpass bond dealers.
Interest rates at one point this week hit … (11 comments)
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mortgage interest rates: FHA Loans vs Conventional Loans - Why FHA home loans in New Jersey can be better with 5% down - 07/11/10 10:44 PM
FHA loans have certainly become more popular over the last several years. In the past, some loan officers were using other types of financing that were easier for them, but not suited best for the borrower. That use to get under my skin and I witnessed it first hand in some cases. What I hate hearing is that FHA mortgages have taken the spot of the subprime loans. This is not true at all. This statement is from those that are inexperienced in both the mortgage and the real estate industries. To many subprime loans should have gone FHA … (5 comments)
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mortgage interest rates: Wait until next year to buy your home - Prices could be 3% less.... - 07/01/10 05:12 PM
Be very careful on what you hear from others when it comes to the real estate market
There is some news out there from realtors and so-called experts advising buyers to maybe wait for a year or so. This kind of stuff angers me for many reasons. Here is a question I just read from a potential home buyer:
"Where do you think home prices will be by the end of this year and by next June 2011 in New Jersey."
Answer by a realtor :
"I'll go with down 3% end-of-year and 5-6% by … (15 comments)
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mortgage interest rates: Mortgage Interest Rates - Mortgage Market Reports - June 29th, 2010 - 06/29/10 04:35 PM
Mortgage Interest Rates hit historical lows !!!!
I am sure many have been hearing that mortgage interest rates are historically low in the last few days. It seems like in the last few years we have heard this and in many cases, it was just a marketing ploy to get the phones to ring. Well, as of this week, they have hit their lowest peak since interest rates have been tracked as far back as 1971.
So why are interest rates so low? Some investors on Wall Street fear a double dip recession approaching. And these investors will … (13 comments)
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mortgage interest rates: Mortgage Interest Rates - What do you have to give me??? - 06/21/10 12:14 PM
Interest Rates - What kind of rate do you have for me?
Mortgage interest rates can be very complex. It's a question that is harder to answer today more than ever before. There are just to many variables that can go into a specific interest rate. Yes, you will still see many advertisements on the tv, on the internet, on Facebook, or hear them on the radio that give out low interest rates. How many times do you see the fine print appear and last for only seconds. This is where some of your detailed information is … (12 comments)
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mortgage interest rates: We must face reality & common sense in the real estate market. Interest Rates will rise !!!! - 04/08/10 10:46 AM
BE PREPARED – Ready & Armed for any curve balls in today's market
Mortgage Interest Rates have been on the rise. People need to be aware of this, especially if you are shopping for a mortgage and you are already tight on your mortgage payment. When your loan officer pre-qualifies you, they should always show you a comparison with rates about 1/4% higher than today's market. Just that 1/4% in rate could make a difference in regards to your housing budget or just for the fact that you might not qualify now.
Overall, I think too many … (26 comments)
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mortgage interest rates: Congress, YSP (Yield Spread Premium), and the Real Estate Recovery - Some things should be left alone !!! - 02/08/10 12:10 PM
Have we been in a crumbling economy in the last few years? What about a crumbling real estate economy in the last 2 years?
In my opinion, I would say yes to both questions.
In some cases, do we have too much government prevention or regulation at times? Jason Crouch wrote an excellent article the other day :
Is Congress Working to Create Yet Another Potential Hurdle to Real Estate Recovery? In this post, Jason makes a great point about how the government seems to intervene and over regulate, thinking that it will help our economy and potentially our real … (29 comments)
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mortgage interest rates: Mortgage Payment vs Mortgage Interest Rate - 07/20/09 10:00 AM
Mortgage Interest Rates - When people shop for mortgages, one of the first things they want is to know the interest rate. Not only that, they want the best and lowest rate. When your average loan officer hears this, they usually don't want to lose you as a client, so they might low ball the rate a little. It doesn't matter if they put this quote on the good faith estimate. It's just an estimate on a piece of paper that until you have a property and have locked into this rate, some loan officers won't honor this … (14 comments)
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mortgage interest rates: Buying Points on your Mortgage aren't EVIL - Just your thoughts are....... - 03/30/09 11:19 PM
And the borrower screamed out from on top of Mount Olympus, "I want the cheapest mortgage, with no points and no costs."
The gods then just chuckled and said, No problamo, you want the infamous "no cost" mortgage or the "no closing cost" mortgage. It sounds cheap, but it comes with a higher price depending on your short and long term goals. Do you want to sell your soul to the devil? Oh, wait.... nobody asked you about those goals? hhhhmmmm - You might want to seek out someone that will explain to you the terminology and educate you … (64 comments)
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mortgage interest rates: How to stimulate the enconomy - The non-common sense way..... - 03/27/09 12:50 PM
Okay, when is the government when are we spending the next hundred billion? Maybe the next trillion. If anyone is a true money geek, they will see that the major spending on mortgage backed securities has lowered interest rates and kept them low. But..... they have gone up since last week, at least by 3/4 of a point. My point on this, is that mortgage interest rates are still very low. Anything in the 5's should be very good, compared to the 6's that we had in 2008.
What about the other spending that has taken place in 2009? What … (9 comments)
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mortgage interest rates: Mortgage Interest Rates could be nearing record lows !!!! - 03/18/09 11:21 PM
As some of you have heard, the Federal Reserve is buying up 10 year notes and mortgage backed securities at record levels. What does this mean? Much lower mortgage interest rates. Will this be good? Many think so, but I don't see it helping. I'll explain in a few.
Here is what Bloomberg reported in an article that they wrote.
"The Federal Reserve opened a new front in its battle to bring down borrowing costs across the economy, pledging to buy as much as $300 billion of Treasuries and stepping up purchases of mortgage bonds."
Here is … (8 comments)
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Jeff Belonger-The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
Cherry Hill,
NJ
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