Mortgage rates are low. Here's how to figure out the best plan for your budget. investinyou (In partnership with acorns.)
The recent drop in mortgage rates may have you dreaming of buying a new home or refinancing your current house.Housing sentiment has surged thanks to those low rates, according to government-sponsored mortgage giant Fannie Mae. Its monthly survey, released Monday, shows that positive sentiment in March jumped to the highest level since June — which was just below the record high.
Rates have since fluctuated slightly. The average 30-year home loan rate is now 4.07%, according to Bankrate's latest survey of the country's largest mortgage lenders on Monday. Getting preapproved for a loan by a reputable bank or mortgage company will allow you to find how much you can borrow and what the best loan is for your situation.
When it comes to whether you should refinance your current mortgage, Chase's Bailey said he generally uses the"half point rule," which means the new rate is at least 0.5 point lower than your current one.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
As mortgage rates hold near 14-month lows, what’s a yield curve anyway?Rates for home loans held near recent lows but went in different directions, suggesting some bond market equilibrium is being reached.
Read more »
Mortgage rates hold near 14-month lows as application demand revs upRates for home loans held near recent lows but went in different directions, suggesting some bond market equilibrium is being reached.
Read more »
EU assessing impact of slower growth on Italy's 2019 budget: DombrovskisThe European Commission is assessing the implications for Italy's budgetary...
Read more »
Home sellers are suddenly much more optimistic – and you can thank lower mortgage ratesLower mortgage rates are likely behind a huge surge in housing sentiment, which could help rev up what started as a sluggish spring season.
Read more »
Weekly mortgage refinances spike 39% after huge rate dropThe biggest one-week rate drop in a decade unleashed a run on refinances, although it did not especially spur spring buyers.
Read more »
8 essential, low-budget renovations that will make your home more appealing to millennial buyersIf you're selling your home, you should pay attention to the unique needs and preferences of millennial buyers.
Read more »
Here's how NATO's budget actually worksTrump's remarks on NATO seem to suggest that Europe must pay the US for protection from Russia, when this is not how the alliance is meant to function.
Read more »
The Best Budgeting Apps In 2019
Read more »
Here's exactly what it takes to have an excellent credit scoreAn excellent credit score is anything above 800, according to the FICO model. People with excellent credit practice a few good financial habits.
Read more »