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Mortgage News Mortgage Rates at 23 Year High As mortgage rates continue to rise, more Americans are feeling stuck in their current homes, unwilling or unable to move at today’s higher borrowing costs. The 30-year fixed-rate mortgage rose to a 7.31% average this past week—the highest level since 2000, Freddie Mac reports. “However, unlike the turn of the millennium, house prices today are rising […]
Mortgage News The Cost of Waiting to Buy Real Estate: Why Delay Might Be Costly In the ever-evolving world of real estate, the decision of when to buy can have significant financial consequences. Delaying your entry into the market, whether as a first-time buyer or seasoned investor, can result in missed opportunities and potentially higher costs. In this blog, we will explore the concept of the “cost of waiting” when […]
Mortgage News Shopping for the Perfect Mortgage in Alabama “Whether you’re a seasoned homebuyer or taking your first steps toward purchasing a home, a mortgage likely is in your future. Shopping for a mortgage can seem like a daunting task, but it doesn’t have to be. A bank, credit union, mortgage company, or mortgage broker can offer a variety of mortgage programs to accommodate […]
Mortgage News Mortgage Insurance Premiums on FHA Loans to be Reduced Great news for FHA borrowers!  It was just announced this week that the Annual Mortgage Insurance Premium will be reduced about 30% which could save homeowners an average of $800 a year.  This MIP reduction goes into effect on March 20, 2023.  The lower premiums will expand homeownership opportunities by reducing mortgage payments for qualified […]
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