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2 minutes read
If you are buying or refinancing, now might be the perfect timing to lock in on your rate. According to the latest Primary Mortgage Market Survey(PMMS) Report from Freddie Mac, average mortgage rates just hit the year’s lowest as 30-year FRM fell by 7 basis points to 3.95 percent this week. Mortgage rates decreased by more than a quarter of a percentage point since the beginning of 2017. For the past months, ...
4 minutes read
Many people think that it is beneficial to pay off a car loan before applying for a mortgage. In reality, this could be a bad idea and actually cause you to lose your mortgage approval. The logic behind this theory might seem a bit strange, as it seems to be common sense to pay off a loan and have fewer outstanding debts when you apply for a mortgage, but that auto loan does more for your credit than you may ...