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. Investopedia indicated rates at 6.99% on June 4, 2025. So, generally speaking, you're looking at around 6.9% for a 30-year fixed-rate mortgage.

Mortgages

Marco Santarelli

JUNE 20, 2025

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? Home Improvements: Use the extra cash to fund renovations that increase your home's value. All these are advantages.

Mortgages

Marco Santarelli

JUNE 17, 2025

Specific rates were not highlighted this week, but they often parallel FHA loan offerings. Adjustable-Rate Mortgages (ARMs) Adjustable-rate mortgages (ARMs) can be appealing due to their initial lower rates when compared to fixed-rate mortgages.

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

MARCH 25, 2025

Fixed Mortgages vs. Variable Rents: This is a big one that often gets overlooked. When you buy a home with a fixed-rate mortgage , your principal and interest payment stays pretty much the same for the life of the loan. You can renovate, decorate, and put down roots in your community.

Equity

Marco Santarelli

JUNE 1, 2025

Adjustable-Rate Mortgages To choose the right type of mortgage for your situation, lets break down the differences between fixed-rate and adjustable-rate mortgages (ARMs): Fixed-Rate Mortgages: Your interest rate remains the same throughout the loan period.

Mortgages

Marco Santarelli

MAY 4, 2025

What the Experts Are Saying About 2025 According to recent data (as of May 1, 2025) from Freddie Mac , 30-year fixed-rate mortgages are hovering around 6.83% while the 15-year fixed-rate mortgages are around 5.92%. This is more than double the sub-3% rates seen during the pandemic.

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

JUNE 28, 2025

Even a small reduction in your rate can save you thousands of dollars over the life of your loan. Shortening your loan term: Switching from a 30-year to a 15-year mortgage can help you pay off your home faster and save on interest.

Mortgages

Marco Santarelli

JUNE 17, 2025

Specific rates were not highlighted this week, but they often parallel FHA loan offerings. Adjustable-Rate Mortgages (ARMs) Adjustable-rate mortgages (ARMs) can be appealing due to their initial lower rates when compared to fixed-rate mortgages.

Mortgages

Housing Wire

OCTOBER 8, 2021

Despite average 30-year mortgage rates that have remained below 3% for most of 2021, the rapid home price increases are eroding affordability for average wage earners. Even with an average 30-year fixed rate mortgage of 2.84% in August , the 14.9% Renovated Inventory to the Rescue. Among 75 U.S.

Renovation

Housing Wire

AUGUST 5, 2021

The average 30-year fixed-rate mortgage slipped back down to 2.77% for the week ending August 5, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior, mortgage rates had rebounded slightly to 2.80%.

Fixed-rate mortgage

Housing Wire

OCTOBER 5, 2023

Currently, the maximum allowable LTV on a purchase and limited cash-out refinance for a two-unit property is 85% for both fixed- and adjustable-rate mortgages, and 75% for a three- or four-unit property. Fannie Mae’s maximum LTV ratio for a single-unit home with a fixed-rate mortgage remains unchanged at 97%.

Loans

Housing Wire

FEBRUARY 3, 2023

In 2020 and 2021, many homeowners refinanced, locking in historically low 30-year fixed rate mortgages. HELOCs have continued to set the stage as flexible, helpful products that provide quick access to financing for a multitude of uses including home renovations, debt consolidations or emergency purchases.

Renovation

Housing Wire

APRIL 14, 2022

.” The gulf between the average 30-year-fixed rate conforming mortgage and a 30-year jumbo, a product for wealthier borrowers, widened to 42 basis points, according to Black Knight ‘s Optimal Blue OBMMI pricing engine, which considers refinancings and additional data from the Mortgage Bankers Association (MBA).

Mortgages

Housing Wire

AUGUST 9, 2021

“With global market uncertainty surrounding the Delta variant of COVID-19, we saw 10-year Treasury yields drift lower and consequently mortgage rates followed suit,” said Sam Khater, Freddie Mac’s chief economist. This bodes well for those still looking to refinance, renovate or even purchase a new home.”.

Fixed-rate mortgage

Housing Wire

JANUARY 5, 2024

Homeowners : Depending on the type of mortgage they have and their financial goals, rising or falling interest rates will affect homeowners differently. Refinancing into a fixed-rate mortgage may provide stability and consistency, although homeowners should be prepared for tighter lending restrictions.

Fixed-rate mortgage

Housing Wire

MAY 3, 2022

Between February 2020 and January 2022, we witnessed something in the mortgage industry that we thought we’d never see — 30-year fixed-rate mortgages under 3.5%. These rates drew a record number of people refinancing their homes, with cash out refinances reaching $1.2 trillion in 2021. HELOCs offer flexibility.

Equity

Housing Wire

JULY 3, 2023

homeowners with mortgages have an interest rate below 6%, according to Redfin. Competition in the industry is even more fierce with the number of mortgage transactions expected to drop to 5 million in 2023 from 16 million in 2019, Lugat said, citing data from the Mortgage Bankers Association (MBA). Nearly 92% of U.S.

Loan Officer

Housing Wire

DECEMBER 30, 2022

Temporary rate buydowns that lower mortgage rates during the initial period will be products LOs will be pushing for, as well as diversification of mortgage products that include renovation products or construction loans. Instead, they’ll be seeking to renovate their homes.”. in 2023, peaking to 6.5%

Loans

Housing Wire

APRIL 8, 2021

By contrast, if you purchase a home through a fixed-rate mortgage, the amount of your monthly loan payment won’t increase over the term of the loan – which may provide a greater sense of financial stability and control. We all crave a space to call our own, along with the autonomy to choose how to make it our own.

Equity

Housing Wire

JUNE 1, 2022

Between February 2020 and January 2022, we witnessed something in the mortgage industry that we thought we’d never see — 30-year fixed-rate mortgages under 3.5%. These rates drew a record number of people refinancing their homes, with cash-out refinances reaching $1.2 trillion in 2021. HELOCs offer flexibility.

Equity

Housing Wire

AUGUST 15, 2022

HELOCs allow homeowners to tap the equity in their home without incurring a much higher first-lien mortgage via a cash-out refinancing. The interest rate for a 30-year, fixed-rate mortgage averaged 5.22% as of August 11, according to Freddie Mac’s most recent weekly Primary Mortgage Market Survey.

Equity

Marco Santarelli

AUGUST 3, 2024

For many, the allure of a fixed-rate mortgage lies in its predictability – consistent monthly payments and the comfort of knowing your interest rate won't fluctuate. However, life throws curveballs, and sometimes circumstances may force you to reconsider your mortgage strategy.

Fixed-rate mortgage

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.”

Equity

RIS Media

AUGUST 6, 2021

Freddie Mac recently announced that the 30-year fixed mortgage rate (FRM) averaged 2.77%, according to its Primary Mortgage Market Survey® (PMMS®). Mortgage details: – 30-year fixed-rate mortgage averaged 2.77% with an average 0.6 point for the week ending Aug.

Fixed-rate mortgage

Realty Biz

JULY 19, 2021

Getting mortgage approval is usually fairly easy, especially when going through the same mortgage company that currently holds your loan. Moving From an Adjustable-Rate to a Fixed-Rate Mortgage. But after a certain period, perhaps 5 or 10-years, the interest rate might be allowed to fluctuate.

Mortgages

Point2Homes

AUGUST 28, 2020

A strong housing market can mean good things for the economy in general , since homebuyers also tend to spend money on appliances, renovations and furniture. stock market’s recovery, too, even amidst the challenges surrounding the pandemic and high unemployment rates. Effect on Economy Overall.

Fixed-rate mortgage

Realtor.com

AUGUST 28, 2020

A strong housing market can be a positive sign for the economy, as home purchases can lead to increased spending on furniture, appliances and renovations. For those who remain employed, ultralow interest rates offer an additional incentive to buy, as they can reduce monthly payments and make homeownership more affordable.

Marketing

HomeLight

MARCH 11, 2022

MassHousing Mortgage. MassHousing offers a fixed-rate mortgage for first-time homebuyers. This program includes MI Plus, which may cover the mortgage payment in the event of a job loss. MassHousing’s Operation Welcome Home program offers a fixed-rate mortgage to military members and veterans.

Closing costs

Realty Biz

MARCH 5, 2021

While FHA Section 203(k) loans have a number of requirements and guidelines , they allow homebuyers to combine the initial purchase of the home and the necessary renovations into a single long-term loan, which can either be at a fixed or adjustable interest rate. DOE Weatherization Assistance Program.

Closing costs

The Close

DECEMBER 5, 2024

The average cost of flipping a house varies depending on the property location, type, and degree of the required renovations. To answer how much does it cost to flip a house, you’ll need to add four main costs: acquisition, renovation, carrying, and selling. In addition, remember to apply the 70% rule.

House Flipping

Marco Santarelli

JULY 5, 2024

Mortgage Market Trends Another significant factor affecting the housing market is the mortgage industry. Here’s an overview of recent trends: Fixed-Rate Mortgages : These remain the most popular option, especially in high-rate environments, as they offer predictability in monthly payments.

Marketing

Marco Santarelli

JUNE 27, 2024

For aspiring homeowners, the question of mortgage rates looms large. In June, Freddie Mac reported a welcome dip in the average 30-year fixed rate mortgage (FRM) to 6.86%, the lowest level in nearly three months. Here, we delve into the predictions of experts and unpack the factors influencing these rates.

Mortgages

Realty Biz

OCTOBER 10, 2022

You’ll also need a stellar credit rating to get a mortgage loan for a rental property. You’ll need a credit rating of at least 620 to qualify for a loan to buy a rental property. However, you’ll have better luck getting a 15- or 30-year fixed rate mortgage for a rental property with a credit score above 740.

Mortgages

Marco Santarelli

MAY 13, 2024

Additionally, lenders could explore ways to mitigate the risk associated with rising interest rates , potentially through offering adjustable-rate mortgages (ARMs) with longer introductory periods or fixed-rate mortgages with buydowns that lock in a lower rate for a set period.

Fixed-rate mortgage

Marco Santarelli

APRIL 20, 2024

Getting pre-approved for a mortgage gives you a clear picture of your affordability range and strengthens your offer. Consider Adjustable-Rate Mortgages (ARMs): ARMs offer a lower initial interest rate compared to fixed-rate mortgages. Emphasize these features in your marketing materials.

Marketing