Weekly Mortgage News Roundup for Nov. 6, 2020
These are our top mortgage news stories for the week. Check them out!
Mortgage rates have stayed low into November, with both the 30- and 20-year loan at well under 3% and the 15-year loan sticking at under 2.5%. But that's not all that's happened. Here's what's been going on in the world of mortgages.
Just when we thought rates couldn't get lower, the 30-year mortgage fell to an average of 2.78% this past week. It's a prime opportunity for buyers -- but inflated home prices will, unfortunately, wipe out some of the savings today's low rates allow for.
Could you use an extra $304 a month? If so, it pays to look at refinancing your mortgage. Based on today's rates, you could shrink your monthly payments substantially.
Thanks to low mortgage rates, many borrowers are clamoring to buy homes or refinance. The result? This year could set a record on the mortgage origination front.
Sometimes even wealthy people take out mortgages. Such is the case for none other than former Vice President Joe Biden, and the reason could have to do with personal liquidity and tax savings.
Putting a home on the market? It's important to appeal to buyers, and to that end, it helps to understand the things that tend to send them running.
Whether you're in the market for a new home, refinancing your mortgage, or are simply interested in how the housing market is doing, be sure to check out The Ascent's mortgage coverage each week. We're busy gathering all of the top mortgage news so you can stay up to date.
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