Homeowners are the clear winners. Low mortgage rates mean the cost of owning is at historically low levels and who gains all the benefits of strong house price appreciation? Homeowners.
Understanding APR or Annual Percentage Rate
One of the most important terms you’ll come across when shopping for a mortgage is APR, or annual percentage rate. But what exactly does it mean? Simply put, APR is a way of indicating the real cost of a mortgage, expressed as an interest rate. While the regular interest rate is the first thing most people look at when pricing … Read More
Understanding No-Cost Mortgages
Is it really possible to get a mortgage and pay no points or closing costs? Yes and no . . . The reality is, you won’t pay any closing costs up front – but you will pay for them over time. In a no-cost mortgage, lenders charge a higher interest rate to compensate for the fact they’re not collecting any … Read More