Interest Rates Articles and Videos - Page 3

To get the best interest rate when closing on a home purchase, wait until the last possible minute to lock into a rate. It might also be wise (and cheaper!) to consider an adjustable rate mortgage instead of a fixed rate mortgage.

Refinancing your mortgage loan through streamline loan modification can save you money because you are in effect getting a new home loan. Refinancing using streamline loan modification means that you contact your current lender to see if they will improve your loan terms so that you'll get a lower…

Home prices are high and it looks as though they may stay high or go higher for a couple of reasons: more people are moving to major metropolitan areas; interest rates are low; and, there are more first-time buyers entering the market. If home prices are too high in the neighborhood you like, look…

Home buyers who want a no down payment home loan must realize they will pay higher interest. Lenders charge a higher interest on no down payment home loans to protect themselves from late or non-payments. Research shows the smaller the down payment the more likely the home buyer will be late on the…

Deciding whether refinancing your mortgage is good for you depends on several factors including interest rates and closing costs. If the interest rates are low enough and the closing costs do not surpass the amount of money you would save refinancing your mortgage it would be a good idea. A good…

When you buy a home you may want to write off the interest you pay on the mortgage loan. But who can claim the mortgage interest when the person making the mortgage payments may not have his or her name on the mortgage loan documents? In order to claim mortgage interest on taxes your name has to be…

Is it better to refinance to a lower interest rate or continue with an existing mortgage? What factors should you consider when refinancing a mortgage loan? Determining whether it's a good idea to refinance depends not only on the interest rate but also on how long you plan to stay in the home.

If you're looking to refinance for a lower mortgage rate, take a copy of your credit history and score to your mortgage lender to show them how it's improved. Mortgage Lenders will can help you refinance for a lower mortgage rate by walking you through several different options and help you raise…

With interest rates low, you may be wondering whether to refinance. But the decision to refinance should include more than just interest rates. When you're deciding whether to refinance you should consider how much your monthly mortgage payment will be and whether you can recoup your refinancing…

When interest rates are low it may seem a good time to refinance a mortgage loan, but other factors have to come together as well. If you've just lost your job or don't have enough equity in your home you may not be a good candidate for mortgage refinancing. In addition, lenders have tightened…

Financing a car may be a better option for some people than paying cash. Financing your car through the dealer, allows you to use the cash for other purposes. If you finance instead of paying cash there are several things to get in writing including the prices of the vehicle, the finance charge and…

A home buyer bought property for sale by owner and wants to know how much to expect the seller to charge for interest, and for financing. Ilyce suggests hiring a real estate attorney to make sure the sale by owner proceeds smoothly and the home buyer gets charged a fair price. Ilyce also suggests…

When you're refinancing, you should live in your home for a reasonable amount of time to make it worth it. If you plan to live in a home for a shorter time it may make sense to pay down the interest rate on the refinance mortgage loan by paying points. A point is equal to one percent of the loan…

I have spent quite a bit of time this week calling big mortgage lenders to chat about their streamline loan modification program.

Here's what I learned:

If you have a Fannie Mae or Freddie Mac loan, AND you are 90 days + late on your mortgage, you can call your lender and request a streamline loan…

I received this email this morning:

From: Catherine, Dated: 1/14/2009 Hello! After listening to your show this past Sunday, you referred a caller to his existing mortgage company for a "streamline loan modification," stating that it would only cost a few hundred dollars and almost immediately lower…

Here's the video from my appearance on yesterday's Today Show:

Dec. 28, 2008

If you currently have a credit card with debt and a high interest rate, consider transferring the balance to a lower-interest credit card. Transferring your credit card debt will help you pay off your debt quicker, improve your credit history and increase your credit score. But remember to…

How has the recent credit crisis and bailout affected mortgage interest rates? To decide whether to refinance an adjustable rate mortgage into a fixed rate loan you need to understand which index your lender uses to set the ARM interest rate. ARMs are often tied to the London InterBank Offered Rate…

Today on the Clark Howard Show, Ilyce Glink filled in. It was Black Friday (or "bleak Friday," as the Wall Street Journal termed it), and she did her annual Deals of the Day show. She discussed what some people were looking for and put up deals at her blog. She also talked about the three car…

Ilyce Glink filled in for Clark Howard, as part of an annual pre-Thanksgiving tradition. She discussed her plans for a Thanksgiving feast and strategized for Black Friday shopping. Ilyce discussed spending concerns for holiday shopping and shared some inexpensive gadgets that might make good gift…

Both the Mortgage Bankers Association (MBA) and Freddie Mac issued news that mortgage loan interest rates have gone up.

For the week ending Oct. 10, the average rate for a 30-year fixed rate loan rose to 6.47 percent from 5.99 percent the previous week. Points ranged 1.14 to 1.09, according to MBA…

Our first call today was from Howard. He's 75 and his wife is 65. Their house (he said) is worth about $170,000. He has a $20,000 mortgage and they are on a fixed income. They're wondering if a reverse mortgage is right for them. He went and talked to a lender who quoted them 10 percent in closing…