The Big Idea Donald Trump is floating a plan to make 50-year fixed mortgages available in the U.S., almost doubling the standard 30-year term (Read the story here). The headline: “Lower monthly payments for homebuyers, making homeownership more attainable.” But as with any bold new “breakthrough”, the devil is in the details. And we should […]
The 30-year fixed-rate mortgage is now passing the 8% interest rate mark, the highest rate in 23 years.In less than two years, the average monthly mortgage payment on a $300,000 loan has increased over $1,100 per month. However, homeownership remains the primary cornerstone of building financial stability. And, with expectations of potentially lower rates by […]
Mortgage rates were back on the rise this week. For the average home buyer, the rate jump translates to an average monthly payment of $2,126, an increase of more than $280. With these rate increases, more and more buyers are looking into ARM’s (Adjustable-Rate Mortgages) to purchase their homes. Should You Consider an ARM? What […]
