Mortgage Interest Rate VS APR: What You Need To Know

Mortgage interest rates are at historic lows for the past several years and it’s all over the news. When you shop and get loan estimates from several mortgage lenders, you’ll come across two important figures that are both expressed in percentages: mortgage interest rate and annual percentage rate (APR). Understanding the difference between the two can help you make better decisions when choosing between buying a home or refinancing.

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LOOK OUT, RATES ARE LIKELY TO GO UP!

There has been a massive refi boom over the last month due to low rates, so you’re wondering, “Should I refi too? Will rates go lower?”  If you go look at rates now, it’s likely they won’t be as low as you expected. Not only are we going to explain why, we’re going to show you why NOW is the time to refinance because rates are set to go UP! 

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What Does Stock Market Volatility Mean for the Housing Market?

Is a real estate bubble to blame for sudden drops in the stock market? Does stock market volatility indicate that a housing crash and recession are imminent? Probably not. Although there are some correlations between stock market activity and the health of the housing market, there isn’t a direct, consistent cause and effect relationship between the two. There are always other factors at work that help to complete the big picture. Here’s some insight into how rates, the housing market and the stock market are intertwined, but still need to be considered separately.

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