Redfin

JULY 31, 2025

Adjustable-Rate Mortgage (ARM): Starts with a lower fixed rate, then adjusts based on market trends. ARMs can help you save early on, but carry the risk of rate increases. Fixed-Rate Mortgage: Offers predictable monthly payments and a stable interest rate for the loan’s duration.

Purchase and sale agreement

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

Marco Santarelli

MARCH 30, 2025

Long-Term Goals Matter: When choosing between a 15-year and 30-year mortgage , consider your short-term cash flow needs versus long-term interest savings. Focus on Financial Health: Improving your credit score and lowering your debt-to-income ratio are key factors in securing a lower mortgage rate.

Mortgages

Marco Santarelli

JANUARY 23, 2025

Current Rate: 6.36% Advantages: Borrowers generally pay less interest over the life of the loan, as the term is shorter. This is particularly intriguing for those who want to build equity quickly. Monthly Payment Calculation: A mortgage at this rate will incur monthly payments of about $863 for every $100,000 borrowed.

Mortgages

Marco Santarelli

MAY 22, 2025

Current Mortgage Rates Type Rate 30-year fixed 6.93% 20-year fixed 6.59% 15-year fixed 6.08% 5/1 ARM 7.58% 7/1 ARM 7.54% 30-year VA 6.42% 15-year VA 5.87% 5/1 VA 6.48% As the table illustrates, the 30-year fixed mortgage has gained 13 basis points today, reflecting the broader economic sentiments tied to the national deficit.

Mortgages

Norada Real Estate

MAY 22, 2025

Current Mortgage Rates Type Rate 30-year fixed 6.93% 20-year fixed 6.59% 15-year fixed 6.08% 5/1 ARM 7.58% 7/1 ARM 7.54% 30-year VA 6.42% 15-year VA 5.87% 5/1 VA 6.48% As the table illustrates, the 30-year fixed mortgage has gained 13 basis points today, reflecting the broader economic sentiments tied to the national deficit.

Mortgages

Housing Wire

SEPTEMBER 27, 2023

. “The higher interest rate environment had profound effects on the mortgage market in 2022, with borrowers paying much more in monthly payments,” CFPB Director Rohit Chopra said in a statement. “These trends are likely to continue given further increases in interest rates in 2023.” in 2022, up from 8.3%

Debt-to-income ratio

Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. Unlike fixed-rate, lump-sum second-lien home-equity loans — HELOCs normally carry variable interest rates.

Equity

Housing Wire

AUGUST 7, 2023

is one of the few places in the world where you can get a fixed-rate mortgage amortized over 30 years. Fixed-rate mortgages provide stability and predictability. The criteria to qualify for a fixed-rate mortgage has not changed much in the last 60 years.

Closing

HomeLight

JUNE 22, 2023

Debt-to-income ratio After looking at how much money is flowing into your household, you’ll want to write down your monthly debts. That’s because lenders will also look at your debt-to-income ratio, or DTI. That number will be your debt-to-income ratio.

Debt-to-income ratio

Marco Santarelli

MARCH 3, 2025

It is also important to know about geopolitical events, which might indirectly influence mortgage rates. Understanding Different Types of Mortgage Rates Let's break down the different types of mortgage rates you'll encounter: Fixed-Rate Mortgage: This is the most common type.

Mortgages

Realty Biz

MARCH 15, 2023

Mortgage Rates Interest rates had stayed low for a long time but began rising last year. For a 30-year fixed-rate mortgage, interest rates have averaged between 6% and 7% recently. With higher interest rates, mortgages are more expensive.

Debt-to-income ratio

HomeLight

JUNE 16, 2023

The average American household credit card debt is $5,315 , the average student loan debt is almost $39,000 , and the average car loan for a new vehicle is around $44,140. If you’re a homeowner with consumer or student debt, it’s tempting to tap into your home’s equity with a cash-out refinance to pay down these balances.

Fixed-rate mortgage

Realty Biz

JUNE 15, 2022

A fixed-rate mortgage is stable for 15 to 30 years, but rents may increase on average as much as 5% per year. . Money spent on a mortgage each month is building equity in something you’ll eventually own, and is a foundational means to growing wealth. Student Loan Debt Must Be Paid off.

Debt-to-income ratio

Point2Homes

NOVEMBER 8, 2020

As tempting as the current low rates are, it’s best to start off by asking yourself how refinancing your mortgage will benefit you. Are you trying to switch from an adjustable-rate to a fixed-rate mortgage? Perhaps you’re looking for a lower interest rate, or to turn your 30-year loan into a 15-year one.

Debt-to-income ratio

Realty Biz

SEPTEMBER 30, 2023

Mortgage insurance: If your credit score is low, lenders may require you to pay for private mortgage insurance (PMI) to protect their investment in case of default. Longer time to build equity: With a higher interest rate and potentially larger down payment, it may take longer for you to build equity in your home.

Finance

Redfin

JULY 11, 2024

Interest rate type: Fixed or adjustable rates affect total interest. How are mortgage rates determined? Mortgage lenders, such as Bay Equity , set rates on a borrower-by-borrower basis, influenced by both market and personal factors. How do different loan types affect mortgage interest?

Mortgages

Redfin

SEPTEMBER 4, 2024

Refinancing your mortgage can be a strategic move to either lower your monthly payments, shorten your loan term, or tap into your home’s equity. However, did you know refinancing a mortgage can cost you? Now that you’re wondering, “How much does it cost to refinance a mortgage?” Learn more about today’s mortgage rates.

Mortgages

Marco Santarelli

JUNE 25, 2024

Today's Mortgage Rates & Predictions for Next Week Good News for Long-Term Homeowners: 30-Year Rates Drop There's a ray of hope for those seeking stability and predictability. The average 30-year fixed-rate mortgage, the most popular option, has dipped to 7.00%, a welcome decrease of 2 basis points from last week.

Mortgages

Redfin

AUGUST 12, 2024

Higher credit scores typically secure lower interest rates, resulting in lower monthly payments and less paid over the life of the loan. Income stability : Lenders prefer borrowers with a stable income and employment history. Documenting at least two years of consistent income can be crucial.

Loans

Windemere Selling

JUNE 13, 2022

Lower interest rates, after a reassessment of your mortgage, equate to lower monthly mortgage payments and significant savings over the life of the loan. Keep in mind that refinancing your home involves getting a new mortgage, so you’ll have to go through the qualification process again.

Debt-to-income ratio

Marco Santarelli

AUGUST 8, 2024

Shortening their loan term: This can lead to faster equity building and lower total interest paid, though monthly payments may increase. Switching from an adjustable-rate mortgage (ARM) to a fixed-rate mortgage: This provides interest rate stability and predictable payments.

Mortgages

Marco Santarelli

MARCH 27, 2025

Your Debt-to-Income Ratio (DTI): How much of your income goes to debt payments? Right now, in March 2025, the average 30-year fixed mortgage rate is around 6.65% according to Freddie Mac. Play the Loan Term Game: You have two main options: 15-year or 30-year mortgages.

Debt-to-income ratio

Redfin

JULY 11, 2023

The interest rate and term length determine the amount of your monthly payments. What are the different types of mortgages? When considering mortgage options, it’s important to understand the different types available. Once the borrower’s equity reaches 20%, PMI can be canceled.

Pre-approval

Marco Santarelli

OCTOBER 15, 2023

If you are thinking of buying a home or refinancing your existing mortgage, you might be wondering why mortgage rates are so high in 2023. Mortgage rates have been climbing steadily since December 2021, when they hit a record low of 2.97%. Why are Mortgage Rates Going Up in 2023?

Mortgages

Real Estate Finance HQ

AUGUST 25, 2017

Housing Ratio. Debt to Income Ratio. Mortgage Insurance. Interest Rates. Mortgage Limits. Debt-to-income ratio. The FHA allows a debt-to-income (DTI) ratio of 41% on their mortgages (most conventional loans allow only 36%). Mortgage Insurance Premiums.

FHA loan

Marco Santarelli

APRIL 26, 2023

While the federal policy doesn't directly impact rates on fixed mortgages, the central bank has some sway with 10-year Treasury yields, which drive fixed mortgage movement. The Fed's actions affect adjustable-rate mortgages (ARMs) and home equity products, however.

Marketing

HomeLight

NOVEMBER 29, 2021

Many VA loans offer a 30-year fixed-rate mortgage loan, competitive interest rates, and generally require no down payment. To receive a 30-year fixed loan through this program, you must pay mortgage insurance until you reach 20% equity in the home. YourFirst Mortgage. Credit score requirements.

Land

Marco Santarelli

FEBRUARY 20, 2025

A mortgage interest rate is essentially a fee for borrowing money from a lender. Types of Mortgage Rates Fixed-Rate Mortgages : These loans secure a specific rate for the entire term of the loan, meaning your monthly payment will remain steady, regardless of market fluctuations.

Mortgages

Marco Santarelli

FEBRUARY 26, 2025

Are you keeping a close eye on your Home Equity Line of Credit (HELOC) rates, wondering if you'll finally catch a break in 2025? The short answer is: it's looking promising that HELOC rates will likely go down in 2025, potentially by around 0.50%. The thing about HELOCs, though, is that most come with variable interest rates.

Debt-to-income ratio

Marco Santarelli

JUNE 5, 2025

Individual Borrower Factors : Many aspects of an individuals financial health can influence mortgage rates directly: Credit Score : Higher credit scores generally result in better interest rates, as lenders view these borrowers as less risky.

Mortgages

HomeLight

JANUARY 27, 2021

Mortgage insurance is extremely common for first-time buyers, and it’s often the fastest way to achieve homeownership and start building equity today, rather than waiting until you’ve saved up 20% — an unrealistic feat for many buyers. And with most loans, you can drop mortgage insurance when you reach 20% equity.

Closing costs

The Close

DECEMBER 29, 2022

It generally results in a higher interest rate or additional points, but it’s a way for homeowners to leverage their equity in a property. It’s kind of like a fixed-rate mortgage and an adjustable-rate mortgage had a baby. Debt-to-income ratio (DTI). Fixed-rate mortgage.

Purchase and sale agreement

Marco Santarelli

FEBRUARY 22, 2025

Here's What Today's Rates Mean for You Refinancing can be a smart move for homeowners looking to lower their monthly payments, shorten their loan term, or even tap into their home equity. So, what do today's rates mean if you're thinking about refinancing? Plus, you build equity much faster.

Mortgages