Today: 5. Nov, 2024
The Federal Reserve’s recent rate cut has spurred excitement among homeowners looking to refinance their mortgages. However, not everyone will be able to capitalize on these lower rates. While refinance activity has increased, lenders may still deny applications based on various factors.…
Amidst fluctuating interest rates and an uncertain economic outlook, homeowners who secured their mortgages when rates were high are now pondering whether to refinance. According to Freddie Mac, the refinance activity of 2023 hit a 30-year low due to historically high mortgage…
As mortgage interest rates continue progressing upward, the mortgage industry is witnessing a significant shift in consumer preferences and behaviours. The demand for mortgages has slowed down to its lowest pace since 1995, with total application volume experiencing a 1% drop last…
The world of mortgages witnessed a surprising turn last week. The adjustable-rate mortgage (ARM), a mortgage whose interest rate is periodically adjusted based on specific indices, saw a spike in demand. This move was in direct contrast to the fixed mortgage rates,…
