With COVID-19 creating havoc and uncertainty within our economy, mortgage rates are hitting historic lows. According to Freddie Mac, the national average rate dropped earlier this month to an all-time low 2.98%. In fact, Mortgage News Daily recently reported that the average reached a seemingly impossible 2.87%. When homeowners are bombarded with news about “record-low
You’ve paid your dues as a renter. Now, your heart is set on purchasing a property you can call your own. But before you discard that lease renewal and start shopping for home furnishings, ask yourself an important question: Do you have what it takes to buy a home, qualify for a mortgage and afford
Life is changing incredibly fast during the coronavirus pandemic and many industries are following suit, including real estate. While some sellers are deciding to pull their homes off the market and try to sell at a different time, that may not be an option for everyone. With that in mind, if you are trying to
When I started planning a move from Seattle, Washington, back to my hometown of Cincinnati, Ohio, in March, I didn’t know how drastically things would change, and how quickly the coronavirus would escalate. By the time I finally left my keys with my roommate in June, the world was in the middle of a global
Taking out a loan is never ideal, but it may not ruin your finances if you borrow the right way. This usually means choosing loan options that come with low fees and a competitive interest rate, and of course making sure you’re borrowing for reasons that will benefit you in the long run. One type
Even if you have no desire to prolong your mortgage payments or add to the debts you have, there are plenty of good reasons to borrow against the equity in your home — commonly called a second mortgage. Interest rates are typically much lower than other borrowing options, for example, which means you could be