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An interest rate is either the cost of borrowing money or the reward for saving it. It is calculated as a percentage of the amount borrowed or saved. You borrow money from banks when you take out a home mortgage.…

As we get older frugality increases. As people reach an age for retirement, it's common to get rid of all those things that we no longer need including personal items, all extra expenses, and oversized hard-to-manage properties. For years, the…

Mortgage rates fell to another record low last week, for the twelfth time since the beginning of the year. The average interest rate on a 30-year fixed-rate mortgage dropped to 2.78%, according to Freddie Mac. That's the lowest level in…

Here are trends we see on the horizon in the upcoming month. The 2020 presidential election could force mortgage rates upward The day after the 2016 election, mortgage rates began to rise – fast. So fast, in fact, that many…

In the week ahead (Sept. 24-30), 9 percent of the experts on Bankrate’s panel predicts rates will rise, while 91 percent expect rates to hold steady and 0 percent think rates will fall. Rates are near a record low and are…

Mortgage rates are influenced by a range of economic factors, from inflation to unemployment numbers. Typically, higher inflation means higher interest rates and vice versa. As inflation rises, the dollar loses value, which in turn drives off investors for mortgage-backed…

Qualifying for a mortgage is a bit different from the last time they bought a home. Not only have lenders tightened their credit during the pandemic, retirees generally have left a steady paycheck behind. It can get tricky for retirees,…

Recently many homeowners are seeking less densely populated areas this has resulted in homebuyers rushing for mortgages but fewer homeowners are refinancing even though rates are heading toward record lows. As a result, total mortgage application volume fell 2% last…

Americans are fleeing big cities as the COVID-19 pandemic sparks a newfound appreciation for socially-distanced space in the suburbs. The mass migration has created an opportunity for millennials and other first-time home-buyers, in particular, to take advantage of record-low mortgage rates and work-from-home opportunities,…

Trend 1: Home prices are holding up The federal stimulus has been crucial to propping up the housing market. The largesse has included unusually generous unemployment benefits and mortgage forbearance that allows borrowers to skip payments for up to a year.…