Second, it may be a good time to buy your first home, or upgrade to your next home given the super low mortgage rates and the rising home prices. But you need to think through this option very carefully, including how long you plan to be in your new home. The real estate market is a very cyclical market, and home prices can go up and down depending on factors outside of your control like the health of the economy, unemployment rates and of course mortgage rates. If you plan on being in your next home for a long time, it’s probably a good time to think about making a purchase. If, however, you are only planning on being in your home for a few years, be careful and don’t count on significant appreciation of your home’s value.
Source: mortgagerates.us
Video: Home Loan Rates May 2013
First Federal Savings Bank Provides Low Mortgage Rates Today
Since that time, First Federal Savings Bank has blossomed into a billion-dollar financial institution, though it maintains the same mission to serve its customers with the newest, competitively-priced products. Individuals interested in learning more can contact the establishment at one of its locations in Rochester, Winamac, Bremen, Plymouth, Elkhart or Mishawaka in Indiana.
Source: gobankingrates.com
Mortgage Rates: Week Ended May 10
Lower or higher rates apply to specific borrower and property profiles. Lower or higher rates available using tax deductible points or zero-cost transactions. These rates assume full doc pricing on Single Family Home purchase loans for borrower with 740 FICO score or greater, at least 20% equity (unless FHA), and 6-12 months reserves left over after close (retirement assets counted at 60% of value for reserves). ARM rates adjust the first month after initial fixed period shown, and once per year thereafter until year 30. Adjusted rate calculated by adding 2.25% margin to 1yr LIBOR index at time of adjustment. At first adjustment LIBOR+margin cannot exceed start rate+5%, subsequent yearly adjustments can never be greater than 2% per year, total of all adjustments for 30yr life of loan can never exceed start rate+5%. Rates based on loan amount ranges shown and rates available at the time of production. Rates aren’t a loan commitment nor a loan guarantee, and are subject to change without notice.
Source: thebasispoint.com
Mortgage Application Activity Boosted by Low Mortgage Rates
Even though FHA closing costs (APR) are high, due to the upfront mortgage insurance premium and other FHA fees, borrowers often reduce these expenses by using seller concessions up to 6%. One of the most often used FHA benefits is the FHA streamline refinance which allows homeowners to move to a better mortgage without the need of an appraisal or other documentation provided there is no equity taken as cash. The streamline is also available until the end of 2013 with reduced upfront and annual insurance premiums for loans that were endorsed prior to June 1, 2009.
Source: realtytimes.com
Reading Mortgage Rates Today By Going Online
Home owners who’re unsure in regards to the reliability of a distinct resource or lender ought to do additional exploration on the business. Certainly one of the easiest ways to do this is to consult the Better Business Bureau (BBB). The BBB might be in a position to supply the home owner with valuable information relating to the number of previous complaints against the business. A firm which has a big number of unresolved complaints should be considered an unreliable organization. Nevertheless, homeowners need to not assume businesses without a substantial number of complaints are reputable unless the firm has been in existence for a number of years and is a member with the BBB.
Source: mortgagerates-trends.com