In a move designed to bring more first-time homebuyers into the housing market, President Barack Obama is expected to announce that the Federal Housing Administration (FHA), the government insurer of home loans, will lower its annual insurance premiums from 1.35 percent to 0.85 percent, according to sources. The president is scheduled to talk about improvements […]
How to Pay Off Your Mortgage Faster?
Paying off a mortgage in 10 years sounds crazy, right? Maybe not. A home is likely the most expensive asset you will ever finance and can take decades to pay back, costing tens of thousands — or more — in additional interest. Not only does paying your mortgage off early save money, but there are […]
30-Year Mortgage Rates Drop!
WASHINGTON — Average U.S. long-term mortgage rates continued to tick down this week, remaining close to yearlong lows. Mortgage company Freddie Mac says the nationwide average for a 30-year mortgage slipped to 3.99 percent from 4.01 percent last week. Rates have stayed around 4 percent for roughly the past month, after having opened the year […]