Norada Real Estate

JUNE 8, 2025

Understanding Mortgage Rates To determine the best mortgage for your situation, it’s essential to differentiate between fixed-rate and adjustable-rate mortgages (ARMs). Fixed-Rate Mortgages Fixed-rate mortgages offer stability and predictability in payments over the life of the loan.

Debt-to-income ratio

Marco Santarelli

MAY 24, 2025

Evaluating Fixed vs. Adjustable Mortgage Rates When applying for a mortgage, borrowers often face the choice between a fixed-rate mortgage and an adjustable-rate mortgage (ARM). This option may be suitable for those planning to move within the initial fixed period.

Mortgages

Marco Santarelli

DECEMBER 11, 2024

Below, we explore two of the most common mortgage types: 30-year fixed mortgages and 15-year fixed mortgages , along with adjustable-rate mortgages (ARMs). Factors such as credit scores, debt-to-income ratios, and market trends will significantly impact individual mortgage experiences.

Mortgages

Marco Santarelli

JULY 25, 2025

Today's Snapshot: Who's Got the Best and Worst Rates? As I mentioned, the national average for a 30-year fixed-rate mortgage is currently around 6.89%. The higher your credit score, the lower the interest rate you'll likely qualify for. conventional, FHA, VA) come with different rates and requirements.

Mortgages

Redfin

JULY 30, 2025

Key takeaways: First-time homebuyer: Anyone who hasn’t owned a primary residence in the past three years Common first-time homebuyer qualifications: Credit score, debt-to-income ratio, down payment, income limits, employment history, purchase limits, homebuyer education Buying your first home?

Debt-to-income ratio

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%. Whats the best way to get a really good rate? A: Great question!

Mortgages

Marco Santarelli

MAY 15, 2025

Loan Type New Purchase 30-Year Fixed 7.07% FHA 30-Year Fixed 7.37% 15-Year Fixed 6.14% Jumbo 30-Year Fixed 7.04% 5/6 ARM 7.24% Source: Zillow As you can see, the type of loan you choose can also impact your rate. Income: Lenders want to see that you have a stable income and can afford your monthly payments.

Mortgages

Marco Santarelli

MAY 5, 2025

Today's Mortgage Rates – May 5, 2025: Rates Increase by Nine Basis Points Key Takeaways Mortgage rates increased today, May 5, 2025, with key rates rising. 30-year fixed-rate mortgage is now 6.70% ; 15-year fixed-rate has reached 5.95%.

Debt-to-income ratio

Norada Real Estate

MAY 5, 2025

Today's Mortgage Rates – May 5, 2025: Rates Are Higher Than Last Week Key Takeaways Mortgage rates increased today, May 5, 2025, with key rates rising. 30-year fixed-rate mortgage is now 6.70% ; 15-year fixed-rate has reached 5.95%.

Debt-to-income ratio

Redfin

JULY 30, 2025

What’s the difference between a fixed-rate mortgage and adjustable-rate mortgage? When choosing a mortgage, you’ll need to decide between a fixed-rate mortgage or an adjustable-rate mortgage (ARM). Remember, a pre-approval isn’t the same as officially getting a mortgage.

Pre-approval

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

APRIL 23, 2025

National Mortgage Rate Trends Let's take a step back and look at the bigger picture of mortgage rates across the country: Current National Average (30-year fixed): As of April 23, 2025, the national average for a 30-year fixed-rate mortgage is around 7.07%. A lower DTI is generally better.

Mortgages

Marco Santarelli

APRIL 9, 2025

Mortgage Rates Drop: Demand Surges 20% Amid Tariff-Driven Turmoil A Perfect Storm: Tariffs, Rates, and Refinancing It all started with shifts in the tariff situation, which caused ripples in the financial markets. These ripples translated into a decrease in mortgage interest rates.

Mortgages

Marco Santarelli

APRIL 24, 2025

National Mortgage Rate Trends: A Broader View While it's important to focus on your state, understanding national trends can provide valuable context. Here's a snapshot of what's happening on a national level: 30-Year Fixed: The average rate for a 30-year fixed-rate mortgage fell slightly to 7.03% on Wednesday.

Mortgages

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

MAY 18, 2025

Adjustable Mortgage options can be broadly classified into fixed-rate and adjustable-rate mortgages (ARMs). Fixed-Rate Mortgages : The interest rate remains constant throughout the life of the loan, making it easier for borrowers to plan their budgets, as monthly payments remain predictable.

Mortgages

Marco Santarelli

JUNE 17, 2025

These rates often come with catches like: Paying points upfront Requiring an exceptionally high credit score Being limited to very small loan amounts Remember, the rate you actually qualify for will depend on your individual circumstances, including your credit score, income, debt-to-income ratio, and the size of your down payment.

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

30-Year Fixed Mortgage Rates The 30-year fixed mortgage remains the most popular choice for home financing due to its stability. Current Rate: 7.05% Historical Context: This rate signals a decrease from previous months, where rates peaked around 7.19% in mid-January.

Mortgages

Marco Santarelli

MAY 2, 2025

As of today: The national average for a 30-year fixed-rate mortgage for new purchases is around 6.88%. Rates jumped up in early April, hitting a high of 7.14% the highest since May 2024. Small Loan Amounts: The rate might only apply to smaller-than-average loan amounts. What Makes Mortgage Rates Tick?

Mortgages

Marco Santarelli

MAY 22, 2025

Creditworthiness: A potential borrowers financial profile has a direct effect on the interest rates offered. Lenders assess credit scores, debt-to-income ratios, and down payments when determining rates. Higher credit scores generally yield lower rates.

Mortgages

Marco Santarelli

MARCH 25, 2025

Here is a breakdown of current rates based on the latest information from Zillow: Loan Type Rate 30-Year Fixed 6.58% 20-Year Fixed 6.36% 15-Year Fixed 5.97% 5/1 ARM 6.72% 7/1 ARM 6.76% 30-Year VA 6.10% 15-Year VA 5.63% 5/1 VA 5.13% It's essential to recognize that these figures represent national averages.

Mortgages

Norada Real Estate

JUNE 6, 2025

These teaser rates are usually based on very specific scenarios or may involve paying points upfront, having a super-high credit score, or applying for a smaller-than-typical loan. How Mortgage Rates are Determined Mortgage rates don't just appear out of thin air.

Mortgages

Marco Santarelli

JUNE 3, 2025

Factors like average credit scores, loan sizes, and foreclosure rates can all affect the rates lenders offer in a particular state. Your Financial Profile: Your credit score, income, debt-to-income ratio, and down payment all play a crucial role in determining the interest rate you'll receive.

Mortgages

Norada Real Estate

MAY 22, 2025

Creditworthiness: A potential borrowers financial profile has a direct effect on the interest rates offered. Lenders assess credit scores, debt-to-income ratios, and down payments when determining rates. Higher credit scores generally yield lower rates.

Mortgages

Marco Santarelli

MAY 6, 2025

States With the Lowest Mortgage Rates Today May, 06 2025 National Mortgage Rate Snapshot Before we zoom in on the states with the lowest rates, let's get a national overview. As of today, May 6, 2025, the national average for a 30-year fixed-rate mortgage is 7.00%.

Mortgages

Marco Santarelli

MARCH 6, 2025

Decoding Mortgage Jargon: What Does It All Mean? Let's be real, the mortgage world is full of confusing terms. Let me break down some of the most important ones: Fixed-Rate Mortgage: The interest rate stays the same for the entire loan term. Predictability is the name of the game here! A lower DTI is better.

Mortgages

Marco Santarelli

APRIL 24, 2025

Think of it this way: the Fed funds rate has a more direct impact on short-term interest rates , like those on savings accounts, credit cards, and personal loans. Mortgages, especially fixed-rate mortgages, are long-term loans, and their rates are influenced by a broader range of factors.

Mortgages

Marco Santarelli

JUNE 27, 2025

Essentially, it's a home loan with an interest rate that's fixed for a specific period (in this case, five years) and then adjusts periodically based on market conditions. This is different from a fixed-rate mortgage , where the interest rate remains the same throughout the life of the loan.

Fixed-rate mortgage

Marco Santarelli

MAY 22, 2025

National Average: The national average for a 30-year fixed-rate mortgage is currently at 7.11%, showing a slight increase due to bond market activity influenced by President Trump's proposed tax bill. These rates are often based on very specific scenarios, like having an excellent credit score or paying points upfront.

Mortgages

Marco Santarelli

JULY 10, 2025

Decoding Mortgage Jargon Before diving deeper, let's quickly define some key terms: APR (Annual Percentage Rate): This is the total cost of your loan , including interest and fees, expressed as an annual rate. Fixed-Rate Mortgage: The interest rate stays the same for the entire loan term.

Mortgages

Marco Santarelli

MARCH 10, 2025

Lenders reward those with better credit by offering more favorable mortgage terms. Down Payment : A larger down payment often leads to lower interest rates since the lender sees you as less of a risk. Debt-to-Income Ratio : Lenders look at your total debt-to-income ratio when determining your eligibility for a mortgage.

Debt-to-income ratio

Housing Wire

APRIL 7, 2021

A monthly mortgage, on the other hand, doesn’t usually increase for homeowners with fixed-rate mortgages. Your Income Is Stable. How are your finances? A stable income means you’re more likely to be approved for a loan , than someone with an unstable income. You’re Actively Paying Down Debt.

Debt-to-income ratio

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

DECEMBER 12, 2023

Assuming a 30-year fixed rate mortgage of 7% with 20% down payment, the monthly payment would be roughly $2,100. In this case, the total debt-to-income ratio (DTI) would be 51% and would exceed the Fannie Mae or Freddie Mac DTI limit of 50%. of sales price) Source: AEI Housing Center, www.AEI.org/housing.

Debt-to-income ratio

Housing Wire

AUGUST 7, 2023

Without a strong secondary mortgage market supported by the federal government, lenders would be able to fund far fewer loans, and would likely flock to the most affluent areas in the country, leaving less-affluent markets with fewer options to finance a home. Fixed-rate mortgages provide stability and predictability.

Closing

Realty Biz

SEPTEMBER 30, 2023

By comparing loan options, understanding loan terms and interest rates, and exploring resources for mortgage comparison, you can find the right mortgage lender for your financial situation. Let's delve deeper into these topics to guide you towards an affordable home financing solution. Reduce your existing debt.

Finance