Real Estate Marketing & Beyond

Mortgage rates fall back below 5%, providing relief for home buyers

By Mike Wheatley | August 8, 2022

mortgage rates

Mortgage rates fell again as housing market reaches 'equilibrium'

By Mike Wheatley | August 3, 2022

Mortgage rates took a sharp turn lower last week, just one day after the Federal Reserve raised its benchmark rate. The average 30-year fixed-rate mortgage fell to 5.22% on Thursday, down from 5.54% earlier in the week, shortly after the Fed announced another rate hike. Mortgage News Daily reported that the average rate fell even […]

JPMorganChase cuts hundreds of mortgage staff as business dwindles

By Mike Wheatley | June 28, 2022

JPMorganChase has said it’s cutting jobs in its mortgage lending business amid tightening monetary policy that has seen mortgage rates pushed above 6%. The nation’s biggest bank said last week that the decision was the result of “cyclical changes” in the mortgage market. “We were able to proactively move many impacted employees to new roles […]

ARMs offer tempting mortgage savings, but there's a risk

By Mike Wheatley | May 26, 2022

A new study from Redfin shows that homebuyers could save an average of $260 per month if they purchase a home now with an adjustable-rate mortgage rather than a traditional fixed-rate loan. That would mean savings of more than $15,000 over the first five years of the loan. It’s a tempting number that explains why […]

Housing, Mortgage

Higher rates may prompt homeowners to stay put, but how will that impact inventory?

By Mike Wheatley | April 22, 2022

Approximately half of American homeowners who currently have a mortgage enjoy a rate of less than 4%. Given that interest rates are now closer to 5%, experts say this could prompt many to stay put, possibly resulting in more pressure on the already-low inventory of homes for sale. The thinking is that homeowners who’re locked […]

As mortgage rates rise, more buyers are being priced out

By Mike Wheatley | April 18, 2022

Rapidly rising mortgage rates may help to reduce housing demand this spring, as the worsening affordability causes more buyers to be priced out of the market, experts say. Mortgage applications are already down more than 6%, according to a report by Redfin. That suggests sellers may have to be more realistic when setting their asking […]

Ask Brian Real Estate

Ask Brian: How Do We Find the Best Mortgage Rate as First-Time Buyers?

By Brian Kline | April 11, 2022

Ask Brian is a weekly column by Real Estate Expert Brian Kline. If you have questions on real estate investing, DIY, home buying/selling, or other housing inquiries please email your questions to [email protected]. Question from Regina in Oklahoma City: Hi Brian, last weekend I visited my sister Jenny. Both of us want to buy our […]

ARM

Mortgage, US Real Estate

As interest rates rise, adjustable-rate mortgages may appeal to more buyers

By Mike Wheatley | April 5, 2022

Although adjustable-rate mortgages are known to be riskier than their fixed-rate counterparts, some home buyers may want to consider them as interest rates keep on rising. So-called ARMs typically come with a lower initial interest rate than a 30-year fixed-rate mortgage will start with, with the rate subject to change after a defined period of […]

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