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Averages on fixed-rate mortgages dropped lower this week, continuing to provide a benefit to home buyers and refinancers, Freddie Mac reports.
Freddie Mac reports the following national averages with mortgage rates for the week ending Oct. 22:
(BPT) - The home loan process can seem intimidating, especially for a first-time homebuyer. It is not a simple process, but it doesn't have to be too complicated. There are many resources available to help you prepare for your home buying journey, and your mortgage lender can answer the questions you have throughout the process.
'We're finding that many of our customers come into the home loan process with limited knowledge of how the home loan process works,' says Eric Hamilton, President of Vanderbilt Mortgage and Finance. 'It's important to take the time to familiarize yourself with the process so you know what to expect.'
Here are some of the key steps to the home loan process, as well as some tips to help...
The PMMS® also reports the 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.88 percent (with an average 0.4 point), and the 1-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.55 percent (with an average 0.2 point).
"Calling the September jobs report disappointing is an understatement," says Sean Becketti, Freddie Mac's chief econ... Many factors play a role in the process of purchasing a home – none understood less than title insurance. Put simply, title insurance protects your investment from title issues that may arise after buying or refinancing a home, such as lost, forged or incorrectly filed deeds or liens on a property, according to the National Association of Insurance Commissioners (NAIC).
To gain a clearer understanding of title insurance, take a look at the facts recently shared by the NAIC:
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