rise

“For the first time since January 2017, the default rates for autos, bank cards and mortgages all rose together,” said David M. Blitzer, managing director and chairman of the index committee at S&P Dow Jow Indices, which together with Experian released their consumer credit default report for October. The default rates on first and second mortgages, bank cards, and auto loans rose last October, accordi...

With the rise of mortgage rates comes a higher volume of mortgage applications, latest weekly surveys made separately by Freddie Mac and the Mortgage Bankers Association confirmed. On the mortgage rate side, the 30-year fixed mortgage rate increased for the first time this 2017. Meanwhile, mortgage applications are at their highest level since June. Interested in buying a home this year?» FREDDIE MAC’S...

No one likes to hear that interest rates are going up. In most people’s minds, this means higher mortgage payments or a declined mortgage application. While it’s true that rising interest rates have an effect on your mortgage affordability, it’s not the only factor. A lower rate doesn’t necessarily mean it will be easy to afford your loan. In fact, 1/4th or even ½ of a point doesn’t make a huge diff...