Mortgage Rates Today
Many people want to know how the banks look at their credit scores. Especially when deciding to lend to a consumer, and determine mortgage rates today. It is no surprise that when you browse the web looking for answers there is a rush of information. As well as a flood of results, and a variety of mortgage rates. But what they should tell consumers is the naked truth! That there are so many factors that play a part in getting the right financing for your unique situation. And that every inquiry on the hunt for the lowest interest rate can count against us.
It’s Really Just A Bunch Of Numbers!
So many homeowners fall victim to bank pursuits. This is not to say banks are bad, but it is to encourage home seekers to do their due diligence. This is the reason that a lot of individuals are trapped in home loans with high-interest rates. As a result, many go along with whatever the bank puts in front of them, often without researching the rates or inquiring about how it all works. This is why it is key to really research, and consider all lending options before moving on the first loan presented to us.
Securing a Low-Interest Rate
“The Truth About Mortgage” advises of one of the most important aspects to successfully obtain a mortgage. And this is because they realize, and want to home prospects to know that the lower the interest rate, the lower the payment. They put it this way to adjust a prospect’s perspective by pointing out that a “change in a rate of a mere .125% (eight percent) or .25% (quarter percent) could mean thousands of dollars in savings or costs annually. And even more over the entire term of the loan”.
Understanding Mortgage Loans
When understanding the theory of mortgage loans one known fact is that they run in eighths. For instance, you may be offered rate, and it may be either a whole number, such as 4%, but there are other rates that look like this 4.125%, 4.25%, 4.375%, 4.5%, etc. And they are repetitive as each whole number decreases or increases. In turn, be wary that when you observe advertised rates, and they have a weird percentage, such as 3.99%, that’s the Annual Percentage Rate (APR). This plays a key role in the cost of a market loan and is just a way for big banks to entice you.
Mortgage Rate Predictions 2017-2018 (TTAM)
As shown on “The Truth About Mortgage” site. The following table provides 2017 -2018 Mortgage Rate predictions or the 30-year fixed mortgage from well-known groups in the industry. Take them with a grain of salt because they’re not necessarily accurate, just forecasts for future movement.
|Mortgage rate predictions||Q1 2017||Q2 2017||Q3 2017||Q4 2017||2018|
As you can see, mortgage rates are projected to go up in 2017, though not by a whole lot. Of course, it will vary depending on which forecast you believe. Rates are expected to stay in the 4% realm in 2018, which should be welcome news to most.