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

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

Housing Wire

DECEMBER 12, 2023

To overcome these headwinds, builders quickly turned to lowering mortgage rates through permanent rate buydowns — a tool last widely used in the early 1980s when the rates exceeded 12%. This phenomenon becomes clearly apparent when compared to existing home sales, for which these buydowns are very rare.

Debt-to-income ratio

Housing Wire

MAY 3, 2023

. “The 2-year and 10-year US Treasury yields are down 2-3 basis points, which could help mortgage rates as the market digests the news and adjusts,” Jack Macdowell, chief investment officer at the Palisades Group , said.

Mortgages

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

Housing Wire

MARCH 10, 2023

Toohig adds that lenders are telling him that their customers “don’t want to do a new 30-year fixed-rate mortgage at 6.25%, and we’d rather do a smaller-balance HELOC [home equity line of credit] instead to improve their property.” And we have more of an asset-based underwriting not focused on debt-to-income ratios.”

Equity

Marco Santarelli

OCTOBER 14, 2023

According to Freddie Mac's Primary Mortgage Market Survey (PMMS) , which tracks the average rates for 30-year fixed-rate mortgages since 1971 , mortgage rates have ranged from a record low of 2.65% in January 2021 to a record high of 18.63% in October 1981. How Are Mortgage Rates Determined Over Time?

Debt-to-income ratio

Realty Biz

MARCH 15, 2023

Limited Availability While more homes are available for sale than last year, fewer homes are available than expected in a balanced market. 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.

Debt-to-income ratio

Redfin

JULY 11, 2024

Here’s how these factors break down: Market factors Before considering individual borrower details, mortgage rates are affected by broader financial elements, including: Inflation: Higher inflation generally leads to higher mortgage rates. economic growth: Strong economic growth can push rates up.

Mortgages

Redfin

SEPTEMBER 4, 2024

There are several reasons you might want to do so like to lower your interest rate, change your loan term, your credit’s improved, debt consolidation, converting an ARM to a fixed-rate mortgage, converting an FHA loan to a conventional loan, or freeing up cash via decreasing your home’s equity.

Mortgages

Redfin

FEBRUARY 11, 2021

However, before finalizing your list of new homeowner expenses, one of the often-forgotten costs to consider adding is private mortgage insurance (PMI). When you apply for a mortgage , your lender may ask if you’re going to put up 20% of the home’s sale price as a down payment. But what is PMI and how does it work? .

Debt-to-income ratio

AAOA

APRIL 17, 2025

Single-family rent growth also remains strong amid high demand, as high mortgage rates keep would-be buyers out of the for-sale market, Zillow noted in the report. That can be meaningful for buyers who are faced with affordability challenges in the for-sale market. from a year prior,accordingto Redfin.

Debt-to-income ratio

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. Refinancing your home could also put cash in your pocket. Typically, homeowners will use such funds for large expenses, such as a major renovation or home improvement project.

Debt-to-income ratio

Redfin

SEPTEMBER 27, 2021

Shopping for a mortgage, you might encounter lenders who pre-qualify you for a higher loan amount than you expected. Many lenders work with standard debt-to-income ratio calculations which don’t take into account other costs of home ownership. The first step is understanding how much you can afford to spend on a mortgage.

Debt-to-income ratio

HomeLight

AUGUST 28, 2020

Mortgage and housing market factors. Another factor affecting mortgage rates? The health of mortgage and housing markets. For example, lenders look at the supply of housing (how many homes are on sale or being built) and buyer demand (how many qualified buyers are looking to purchase homes) to help determine rates. “We

Mortgages

HomeLight

NOVEMBER 29, 2021

William Hagan , a New Jersey agent who typically sells homes more than 40% faster than the average agent in his area, warns that even a 20% down payment may not be enough to win a bidding war in the 2021 sales market. “In You’ll find up-to-date information on new listings, days on market, median sales prices, housing inventory, and more.

Land

Marco Santarelli

APRIL 26, 2023

Many Americans bought homes as prices soared in the past two years, while others remain shut out due to high home prices and mortgage rates. The sharp rise in mortgage rates has cooled the housing market, with home sales falling for ten consecutive months, according to the National Association of Realtors.

Marketing

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%). Fixed Rate Mortgages.

FHA loan

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

HomeLight

JANUARY 27, 2021

With fixed-rate interest, your rate remains the same over the life of the loan, which means every mortgage payment you make will be the same amount for the entire loan term (in the beginning, these payments will cover mostly interest, but you’ll start paying down the principal after a few years). Adjustable-rate interest.

Closing costs

The Close

DECEMBER 29, 2022

This tool, also known as a like-kind exchange, allows investors to defer paying capital gains taxes on a sale. ” If a property is active contingent, a buyer has submitted an offer to purchase a property, but the sale won’t be finalized until certain conditions, or contingencies, are met. Balloon mortgage. ” A.

Purchase and sale agreement

Marco Santarelli

FEBRUARY 5, 2025

Even if rates do fall, prospective homebuyers still face other challenges, including: Sluggish wage growth: Wages haven't kept pace with inflation, making it harder for people to save for a down payment and afford monthly mortgage payments. So, while lower rates would certainly help, they won't solve the affordability crisis overnight.

Mortgages

Marco Santarelli

JANUARY 26, 2025

Fixed-Rate vs. Adjustable-Rate Mortgages Understanding the differences between fixed-rate and adjustable-rate mortgages (ARMs) can further influence your decision. In contrast, an adjustable-rate mortgage features a lower initial rate that adjusts after a predetermined period (e.g.,

Mortgages