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Inflation and Mortgage Rates In 1971, the average mortgage rate was 7.31% - a rate that may seem relatively high compared to today’s rates. However, in 1974 the average annual rate of inflation began ...
What Not to Do Between Application and Closing
Ignore Impulse Buys The days between the time you apply for a mortgage and the moment that you close the loan can be filled with adrenaline. The excitement of owning your first home or buying a new on...
Why Refinancing Still Makes Sense Amid Rising Rates
Mortgage Interest Rates Are Still Considered Low The 30-year fixed-rate recently hit a one-year high. Reasons for the increase in mortgage rates include an improving economy and government stimulus sp...
Mortgage Rates On the Rise Read This Before You Refinance
What is a Good Mortgage Rate? The answer to that question can vary depending upon everything from your personal financial situation to current housing market conditions. Of course, the adage, “the low...
How Rising Rates Will Affect You
Interest Rates are Going Up The March jobs report marks one year since the first pandemic job losses, and even with the improving job numbers the number of employed Americans is not expected to return...
Pros and Cons of Rising Interest Rates
Pros of Rising Interest Rates To help battle high inflation in 1981, the Fed raised interest rates to an astronomical 19%. The move was ultimately successful. However, in the interim, those with savin...
Why Does the Federal Reserve Raise Interest Rates? According to Investopedia, “the interest rate is the amount a lender charges for the use of assets expressed as a percentage of the principal. The in...
How COVID-19 Has Shifted the US Economy
As stay-at-home orders were put into place; the U.S. quickly shifted into a work-from-home economy and the use of video conference calls for remote work boomed. Stanford economist Nicholas Bloom rece...
Mortgage Rates Are Still Historically Low
Freddie Mac and the 30-Year Fixed Mortgage According to the latest data released from Freddie Mac, the 30-year fixed-rate mortgage decreased by almost ten basis points to 3.04% That’s not only lower t...