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Mortgage rates remain low as December kicks into gear. Here's what's happened in the mortgage world over the past week.
Foreclosures were down in 2020, and we can thank the CARES Act and foreclosure moratoriums for that. But once those protections run out, we could see a spike in foreclosure activity.
Low mortgage rates and limited housing inventory have caused a surge in buyer demand, driving home prices up. The result? Buyers are borrowing more money than ever to finance their homes.
Low mortgage rates are enticing many people to buy homes. But is now the best time to take on such a huge financial commitment? Not necessarily.
Single-family home sales rose 41.5% from October of 2019 to October of 2020. Low mortgage rates no doubt played a role in that trend.
A cash-out refinance lets you borrow more than your remaining mortgage balance and use that extra money for any reason you need. But is a cash-out refinance a smart move, or one you'll regret?
Filling out a mortgage application does not guarantee approval. In fact, here's why you might struggle to get a lender to agree to a home loan.
In the coming year, you'll be able to borrow more money to finance a home without getting bumped into jumbo loan territory. Conforming loan limits reflect fluctuations in home prices, and since those have increased substantially in 2020, loan limits are following suit.
Whether you're house-hunting, refinancing, or simply curious about the housing market, make a point to check out The Ascent's mortgage coverage each week. We're busy gathering your top mortgage news so you can stay current on the industry and make smart financial decisions yourself.