Marco Santarelli

MAY 31, 2025

Understanding Mortgage Rate Types When considering a mortgage, it's essential to understand the different types of mortgage rates availablefixed and adjustable rate mortgages (ARMs). 15-Year Fixed : Many buyers prefer this option for its lower interest rates.

Mortgages

Marco Santarelli

MAY 3, 2025

Are you thinking about buying a home, or perhaps refinancing your current mortgage? The news you've been waiting for is here: mortgage rates are continuing their downward trend. As of May 1, 2025, the 30-year fixed-rate mortgage has dipped to 6.76% , a welcome change compared to the earlier part of the year.

Debt-to-income ratio

Marco Santarelli

MAY 24, 2025

The average interest rate on a 30-year fixed-rate mortgage has climbed to 7.15% , marking the highest point we've seen in over a year, specifically since May 2, 2024. The 7.15% average for a 30-year fixed-rate mortgage for new purchases represents a 4 basis point increase just from yesterday.

Mortgages

Redfin

JULY 30, 2025

If you’re wondering if you’re ready to buy a house , consider these three factors: Financial stability: If you have a low credit score, lots of debt, and not enough funds to cover a down payment and closing costs, you may want to wait to buy a home. Closing costs: Typically 2-5% of the home’s purchase price.

Pre-approval

Marco Santarelli

FEBRUARY 28, 2025

Here's what the refinance rates are looking like right now, also from Zillow : Refinance Type Current Rate 30-year Fixed 6.34% 20-year Fixed 6.04% 15-year Fixed 5.62% 5/1 ARM 6.70% 7/1 ARM 6.77% 30-year VA 5.75% 15-year VA 5.46% 5/1 VA 6.06% 30-year FHA 6.06% Just like with buying a home, your refinance rate will depend on your individual situation.

Mortgages

Norada Real Estate

JUNE 7, 2025

Understanding Where Mortgage Rates Stand in June 2025 As we look at the mortgage market in early June 2025, the numbers tell an interesting story. According to sources like Freddie Mac , the average interest rate for a 30-year fixed-rate mortgage is hovering around 6.85% to 6.97%.

Mortgages

Marco Santarelli

MARCH 4, 2025

15-Year Fixed: You'll pay it off faster and pay significantly less interest over the life of the loan. Adjustable-Rate Mortgages (ARMs): These typically offer a lower initial interest rate than fixed-rate mortgages, but the rate can adjust periodically based on market conditions.

Mortgages

Redfin

JULY 31, 2025

State and local programs: Cities and states may offer down payment assistance, forgivable loans, or closing cost help. Check with your state’s housing finance agency for options. Save for closing costs Closing costs are fees and expenses you’ll pay when finalizing the home purchase.

Purchase and sale agreement

Marco Santarelli

FEBRUARY 24, 2025

According to Freddie Macs Primary Mortgage Market Survey from February 20, 2025 , heres the snapshot: 30-Year Fixed Rate Mortgage (FRM): 6.85% 1-Week Change: -0.02% 1-Year Change: -0.05% 4-Week Average: 6.89% 52-Week Average: 6.76% 52-Week Range: 6.08% – 7.22% 15-Year Fixed Rate Mortgage (FRM): 6.04% 1-Week Change: -0.05% 1-Year Change: -0.25% (..)

Mortgages

Marco Santarelli

APRIL 17, 2025

Economic forecasts suggest mortgage rates might stabilize around 6% by 2026, but volatility remains. Current Mortgage Rates: Snapshot of April 17, 2025 Loan Type Interest Rate Details 30-year fixed 6.74% The most popular fixed-rate mortgage. No surprises, easier budgeting.

Mortgages

Marco Santarelli

JUNE 9, 2025

Understanding Mortgage Types When you explore your mortgage options, understanding different types of loans is critical. Each mortgage type has its own advantages and disadvantages, depending on your financial situation and how long you plan on staying in a home. Fixed-Rate Mortgages : These loans are straightforward.

Mortgages

Marco Santarelli

JULY 1, 2025

ARM Volatility: Adjustable-rate mortgages show mixed movements. Here's a comparison to help you weigh your options: 5-Year ARM: Great Option if you are planning to move within 5 years or expect a significant increase in income that will offset eventual rate adjustments.

Fixed-rate mortgage

Marco Santarelli

APRIL 2, 2025

Let's look at the specifics for today's mortgage rates: Loan Type Rate 30-Year Fixed 6.50% 20-Year Fixed 6.18% 15-Year Fixed 5.86% 5/1 ARM 6.60% 7/1 ARM 6.38% 30-Year VA 6.06% 15-Year VA 5.62% 5/1 VA 6.07% 30-Year FHA 5.95% 5/1 FHA 5.69% As you can see, the benchmark 30-year fixed-rate mortgage is averaging 6.50% nationally.

Mortgages

Marco Santarelli

JUNE 8, 2025

To adjust loan type: For example, switching from an adjustable-rate mortgage (ARM) to a fixed-rate mortgage can provide more payment stability. You'll encounter closing costs , which can include appraisal fees, title insurance, and lender fees. How much will the refinancing closing costs be?

Mortgages

Rochester Real Estate

NOVEMBER 5, 2015

This involves making a careful budget that includes potential costs like the down payment, closing costs, taxes, and possible renovation expenses. The first step to buying a house in New York is to assess your financial readiness and get pre-approved for a mortgage. But studying the market is not enough.

Purchase and sale agreement

Marco Santarelli

JUNE 12, 2025

National Average Mortgage Rates Loan Type Current Rate Change from Last Week APR APR Change 30-Year Fixed 6.91% -0.08% 7.34% -0.11% 15-Year Fixed 5.97% -0.03% 6.25% -0.11% 5-Year ARM 7.30% No change 7.83% -0.17% Key Observations: The national average for 30-year fixed-rate mortgages fell slightly from 6.99% last week to 6.91%.

Mortgages

Marco Santarelli

JUNE 2, 2025

Current Mortgage Rate Overview For individuals looking to purchase a home, understanding the different types of mortgage interest rates available is essential. The most common types are fixed-rate mortgages and adjustable-rate mortgages (ARMs).

Mortgages

Marco Santarelli

JUNE 23, 2025

Change Loan Type: Converting from an ARM to a fixed-rate mortgage provides stability and predictability in your monthly payments. Consolidate Debt: You can roll other debts, like credit card balances, into your mortgage, potentially securing a lower interest rate and simplifying your finances.

Mortgages

Marco Santarelli

APRIL 30, 2025

Although this requires a stronger financial commitment upfront, the potential to save on total interest approximately $83,000 over the life of the loan compared to a 30-year fixed loan at the current rate makes this option very attractive. However, refinancing isnt only about securing lower rates.

VA loan

Redfin

JULY 31, 2025

Additionally, set aside extra savings for closing costs, moving expenses, and any home updates or repairs you may need right away. If you shop around first, you could end up with a lower interest rate and better terms. Compare interest rates, closing costs, and loan terms carefully.

VA loan

Redfin

APRIL 11, 2025

When you pay your mortgage each month, the payments go toward a tangible asset rather than a landlord. Owning a home can also bring more financial stability , especially with a fixed-rate mortgage, as it offers predictable monthly payments, compared to rent, which can rise. Can I afford a starter home?

Marketing

Marco Santarelli

FEBRUARY 26, 2025

Are you glued to your screen, constantly refreshing to find out today's mortgage rates ? As of February 26, 2025, we've seen a welcome dip in mortgage rates. The average 30-year fixed-rate mortgage is currently sitting at 6.35%. Well, breathe a sigh of relief, because there's a bit of good news!

Mortgages

Norada Real Estate

JUNE 8, 2025

However, potential refinancers must weigh the benefits of lower rates against closing costs and any potential changes in loan terms. Understanding Mortgage Rates To determine the best mortgage for your situation, it’s essential to differentiate between fixed-rate and adjustable-rate mortgages (ARMs).

Debt-to-income ratio

Marco Santarelli

APRIL 27, 2025

For many, especially given the current market conditions centered around high borrowing costs, yes , buying a home with cash in 2025 presents a remarkably strong position, offering distinct advantages that financed buyers just can't touch, though like any big financial move, it requires careful consideration of your own situation.

Finance

Marco Santarelli

JULY 8, 2025

As of today, July 8, 2025 , the national average for a 30-year fixed-rate mortgage is around 6.83%. While this is a slight increase from two weeks ago – rates dropped 16 basis points – it’s still better than the one-year high of 7.15% we saw in mid-May. Be sure you understand all of the costs involved.

Mortgages

Marco Santarelli

APRIL 15, 2025

Adjustable: Understanding Your Mortgage Options Navigating the world of mortgages can be confusing, especially when it comes to different types of loans. Here's a breakdown of two popular choices: Fixed-Rate Mortgages: With a fixed-rate mortgage, your interest rate stays the same for the entire life of the loan.

Mortgages

Marco Santarelli

MAY 22, 2025

Dave Ramsey Predicts Mortgage Rates Will Drop Soon in 2025 Who is Dave Ramsey and Why Should We Care? For those who might not be as familiar, Dave Ramsey is a personal finance guru. If you're considering a shorter term, the 15-year fixed-rate mortgage is averaging between 5.89% and 5.92%. Let's dive in.

Mortgages

Marco Santarelli

MARCH 20, 2025

30-Year Fixed: This remains a popular choice for many homebuyers due to its lower monthly payments , making homeownership more accessible. The Purchase Rate vs. Refinance Rate Dynamic: It's not uncommon for refinance rates to be slightly higher than purchase rates.

Mortgages

Marco Santarelli

MARCH 23, 2025

The average rates currently observed in the market are as follows: the 30-year fixed mortgage rate is at 6.51% , the 20-year fixed rate sits at 6.25% , and the 15-year fixed rate is recorded at 5.89%. This slight decline might provide a silver lining for those trying to secure their financing.

Mortgages

Marco Santarelli

JANUARY 25, 2025

Refinance Opportunities by Loan Type Okay, let's break it down even further, looking at the different kinds of mortgages and the refinance options that might be attractive to you: Fixed-Rate Mortgages: These are the classic, stable, what you see is what you get kind of loans. Its a gamble but can pay off.

Mortgages

Redfin

JULY 30, 2025

These are key criteria lenders and programs use to determine if you’re eligible for financing and special perks like down payment assistance. In this Redfin article, we’ll be going over what counts as a first-time buyer, what qualifications you’ll typically need to meet, and how to get your finances in shape for your home purchase.

Debt-to-income ratio

Marco Santarelli

MARCH 17, 2025

The rate you personally qualify for can vary based on factors like your credit score, down payment amount, the type of property you're buying, and even where you live. The Popular 30-Year Fixed-Rate Mortgage The 30-year fixed-rate mortgage is still the most common choice for homebuyers, and for good reason.

Mortgages

Norada Real Estate

JUNE 21, 2025

Fixed Rate vs Adjustable Rate Mortgages It’s essential to understand the difference between fixed and adjustable-rate mortgages (ARMs) when evaluating mortgage rates. Rates and terms can vary widely depending on the lender’s qualifications and policies.

Mortgages

Marco Santarelli

JUNE 11, 2025

Cons: Closing Costs : Borrowers need to be aware that refinancing comes with closing costs that may negate some savings from lower rates. Various financial institutions offer different forecasts, but there appears to be a general consensus that: Mid-2025 Targets : Predicted rates could fall between 5.5%

Mortgages

Marco Santarelli

MARCH 31, 2025

This rate environment makes careful shopping and understanding your loan options even more critical. Fixed-rate mortgages (like the 15-year, 20-year, and 30-year options) keep the same interest rate for the entire loan term. This isn't always the case; sometimes refi rates are noticeably higher.

Mortgages

Marco Santarelli

JUNE 20, 2025

Factor in all the costs involved, such as appraisal fees, closing costs, and any prepayment penalties on your existing loan. Are you looking to lower your monthly payment, shorten your loan term, switch from an adjustable-rate to a fixed-rate mortgage, or tap into your home equity for other financial needs?

Mortgages

Norada Real Estate

JUNE 29, 2025

Refinancing can be a smart move if you can lower your interest rate, shorten your loan term, or switch from an adjustable-rate mortgage to a fixed-rate mortgage. However, it's important to consider closing costs and other fees. Why Are Mortgage Rates So High in 2025?

Mortgages