Tag Archives: mortgage
Home Equity Line of Credit (HELOC) – Basic Breakdown
A home equity line of credit, or HELOC, is a second mortgage on your home that gives you access to cash based on the value. A HELOC is typically used for larger expenses or to consolidate higher-interest-rate debt on other … Continue reading
Home Prices See First Monthly Decline in Years
From June to July, home prices slid for the first time in years. This is the latest sign that higher mortgage rates are starting to weigh on home prices in many of the country’s biggest markets. It will be interesting … Continue reading
U.S. Mortgage Rates Top 6% For First Time Since 2008
For the most popular U.S home loan (conventional fixed rate mortgage), the average interest rate has risen above 6%. This is the first time this has happened since 2008 and is now two times more than the level it was … Continue reading
Mortgage Rates Hit 5.78%, Highest Level Since 2008
U.S. mortgage rates have recently hit their highest level since November of 2008. This is the latest signal of turmoil tied to the Federal Reserve’s attempts to cool inflation. According to a report published by Zillow, the average 30-year … Continue reading
Mortgage Applications Lowest in 22 Years
Following roughly a two-year stretch of the housing market being extremely hot, it seems as if it is finally cooling off. This is following a report stating that mortgage applications fell to the lowest level in 22 years.… Continue reading
United States Sees Largest Mortgage Rate Hike Since 2009
In an effort to combat inflation and the overheated housing market, the Federal reserve has decided to raise its benchmark by half a percentage point, which is the highest bump the country has seen in two decades. Mortgage costs are … Continue reading