Best Mortgage Rate Blog
What's new? The Best Mortgage Rate Blog by Kate, an entertaining source of information, translates the secret language of mortgage lending making it easy for anyone to understand.
Here you'll find the latest additions, interest rate news and a wealth of information about real estate and mortgages.
How To Become Part Of This Blog
Are you seeking solutions to mortgage dilemmas? Whatever your questions, you can depend on a unique and personalized answer from Ask Kate! Your contribution becomes part of this blog and a permanent page on Get-Your-Best-Mortgage-Rate.com for others to read. Bonus! I'll tweet your page at Twitter too. So enjoy. This is fun. Okay! Onto the blog...
Feb 3, 2012
HARP Refinance Rates
Ask Kate who determines HARP refinance rates: Hi Kate, We are considering a HARP refinance with our current lender. We were told that the finance rate
Permalink -- click for full blog post "HARP Refinance Rates"
Feb 2, 2012
Introducing Dennis at List of Mortgage Companies in Colorado
Here's a warm welcome for Dennis in Englewood, CO to the List of Mortgage Companies in Colorado, my free lender directory. Follow the link to his contact information where he also says, "Offering the best in loan services at modest rates."
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Feb 2, 2012
New Lows! Today's Mortgage Rate Report from Super Kate
Today's mortgage rate report from Super Kate at Get-Your-Best-Mortgage-Rate.com: Whew, after last week's spike in mortgage rates, this week's all time record lows for the 30, 15, and 5 year mortgages are a welcome relief! Here are the averages -
30 year fixed rate mortgage averaged 3.87 percent, down (yes!) from last week's 3.98, and down from 4.81 percent this time last year.
15 year fixed rate mortgage averaged 3.14 percent, down from last week's 3.24, and down from 4.08 percent this time last year.
5 year fixed - 25 year adjustable mortgage rates averaged 2.80 percent, down from last week's 2.85, and down from 3.69 percent this time last year.
1 year adjustable rate home mortgage averaged 2.76 percent, up slightly from 2.74 last week, but down from 3.26 percent this time last year.
Watch the Best Mortgage Rate Blog for next's week rate report from Super Kate.
Feb 1, 2012
Seller Financed vs Stated Income Mortgages | When Traditional Mortgage Approval a la Vanilla Fails
Ask Kate about seller financed vs stated income mortgages: T. has been doing cash-in-hand work for 3 years. I doubt that traditional mortgage approval, a la vanilla, is cut out for him.
How about you? What happens when traditional programs aren't sufficient for financing your home loan? Don't give up on your dreams! Find your solution at When Traditional Mortgage Approval a la Vanilla Fails. While you're there, leave a comment, especially if you've been in a similar situation or someone who has.
Feb 1, 2012
Celebrating 100 Day Anniversary of HARP II Making Home Affordable Sweeping Changes
Celebrating 100 Day Anniversary of HARP II Making Home Affordable Sweeping Changes with Curtis and Darlene: 100 days have passed since Making Home Affordable (MHA) announced sweeping changes for homeowners struggling with unaffordable monthly house payments. See how this couple with 37 years in their home experienced success and prevented mortgage foreclosure after Curtis suffered a grand mal seizure and was laid off from his job.
Celebrating 100 Day Anniversary of HARP II Making Home Affordable Sweeping Changes
Jan 30, 2012
New Interactive Directory Map for List of Mortgage Companies
New Interactive Directory Map for List of Mortgage Companies: How cool! A new interactive map of the 50 United States! I just put it up on Get-Your-Best-Mortgage-Rate.com last night.
The directory at List of Mortgage Companies has been bringing together home buyers and homeowners with mortgage professionals for some time now. But this new map makes it easier than ever (and more fun) to network across the United States. You can see it at List of Mortgage Companies.
Bringing together home buyers and homeowners with mortgage professionals! Escrow, title and abstract services are welcome here too!
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Jan 28, 2012
Ned's story of Nitty-Gritty and the Watchdog | Bizarre Underwater Refinance of a 1st and 2nd Mortgage
Ned's story of Nitty-Gritty and the Watchdog - His bizarre underwater refinance of a 1st and 2nd mortgage: Ned's mortgage experience defines bizarre! It could happen to anyone. His 1st mortgage slipped backward into a 2nd mortgage and it's super-underwater.
His line of credit accidentally became his 1st mortgage and no one closed it when he paid it off in a refinance. He doesn't live in the house but he could. Or maybe he should walk away. For the rest of Ned's story, go to Bizarre Underwater Refinance of 1st and 2nd Mortgages.
Jan 27, 2012
Underwater Refinance of 1st and 2nd Mortgage
Ask Kate about an underwater refinance of 1st and 2nd mortgage with a bizarre twist: Kate, I purchased an investment property in 2003 for $60,000 cash.
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Jan 26, 2012
Meet Korene in List of Mortgage Companies in Arizona | Get-Your-Best-Mortgage-Rate.com
Meet Korene at my List of Mortgage Companies in Arizona: A mortgage pro from Scottsdale, AZ, she is now found in my free mortgage lender directory at Get-Your-Best-Mortgage-Rate.com. Korene offers financing for owner-occupied, investors, FHA, Reverse, USDA and VA guaranteed financing, conventional, high balance and jumbo loans as well as foreign nationals, tenant buyers, hard to place loans, and credit challenged.
Go to List of Mortgage Companies in Arizona to learn more about Korene. Please tell a friend!
Jan 26, 2012
Has the Trend Reversed | Best Mortgage Rates for the week ending January 26, 2012
Ouch! Has the trend reversed? Best Mortgage Rates and Trends Summary for the week ending January 26, 2012: Up! Both the 30 and 15 year fixed! The 5 year fixed is up also. Oddly, the most stable is the 1 year ARM.
30 year fixed rate mortgage averaged 3.98 percent, up from last week's 3.88, and down from 4.80 percent this time last year.
15 year fixed rate mortgage averaged 3.24 percent, up from last week's 3.17, and down from 4.09 percent this time last year.
5 year fixed - 25 year adjustable mortgage rates averaged 2.85 percent, up from last week's 2.82 percent, and down from 3.70 percent this time last year.
1 year adjustable rate home mortgage averaged 2.74 percent, the same as last week, and down from 3.26 percent this time last year.
Super Kate is all over interest rate trends! You'll find the super hero's weekly report on mortgage rates at Best Mortgage Rate Blog!
Jan 26, 2012
You can find Jana in List of Mortgage Companies in Texas, my free Lender Directory
Introducing Jana, mortgage professional in Cleburne! You can find Jana in List of Mortgage Companies in Texas, my free Lender Directory introducing home buyers and homeowners to local mortgage professionals.
I like this quote from Jana's entry in my directory, "I understand life is hectic and moving a family can be a stressful experience. Allow me to give you the peace of mind families have trusted for years." Go to List of Mortgage Companies in Texas to contact Jana.
Jan 26, 2012
Michael of Westerville in List of Mortgage Companies in Ohio
Introducing Michael, mortgage professional in Westerville, newly added to the List of Mortgage Companies in Ohio. This is my free Lender Directory to introduce home buyers and homeowners to mortgage professionals.
Michael says, "We provide a relaxed, non-pressured experience throughout your loan process." Go to List of Mortgage Companies in Ohio for more about Michael. And please tell a friend about the directory!
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Jan 24, 2012
Buying A Bank Foreclosure
Ask Kate about buying a bank foreclosure and PMI approval: Hi Kate, My fiance and I just recently put in an offer on a foreclosure house. It has been about
Permalink -- click for full blog post "Buying A Bank Foreclosure"
Jan 23, 2012
Introducing Michael from Chester, MD | List of Mortgage Companies in Maryland
Introducing Michael from Chester, MD who is now found at List of Mortgage Companies in Maryland, my free Lender Directory. This will tell you a little about Michael - "You will feel my enthusiasm, knowledge and dedication to your transaction from our first conversation." Cool! I like it!
Go to List of Mortgage Companies in Maryland for more about Michael. And tell a friend about the directory!
Jan 23, 2012
Meet in Greg Serving Albuquerque Homeowners for 20 Years | List of Mortgage Companies in New Mexico
Meet Greg who has been serving Albuquerque homeowners for 20 years at List of Mortgage Companies in New Mexico, my lender directory at Get-Your-Best-Mortgage-Rate.com. Tell a friend!
Jan 22, 2012
What is a Reverse Mortgage | Income for Senior Homeowners
What is a Reverse Mortgage? Reverse mortgages are a source of income for Senior Homeowners. Instead of the traditional method of borrowing money and being obligated to monthly house payments, reverse mortgages are... simply put, reversed!
The order is reversed because the bank pays the homeowner! Here is a brief rundown, an introduction, to a source of income for Senior Homeowners at What is a Reverse Mortgage.
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Jan 19, 2012
Announcing Today's Best Mortgage Rates and Trends by Super Kate | Get-Your-Best-Mortgage-Rate.com
Today's Best Mortgage Rates and Trends Summary: Announcing the 7th consecutive week below 4.00 percent for the 30 year fixed rate mortgage which averaged 3.88 percent, down from last week's 3.89, and down from 4.74 percent this time last year.
15 year fixed rate mortgage averaged 3.17 percent, up slightly from last week's 3.16, and down from 4.05 percent this time last year.
5 year fixed - 25 year adjustable mortgage rates averaged 2.82 percent, the same as last week, and down from 3.69 percent this time last year.
1 year adjustable rate home mortgage averaged 2.74 percent, down slightly from 2.76 last week, and down from 3.25 percent this time last year.
Super Kate is always on the hunt for interest rate trends! Discover the super hero's weekly report on mortgage rates here at the Best Mortgage Rate Blog!
Jan 19, 2012
When the Bank Says No Think Yes | Buying Without Selling a Current Home
Jane asks Kate about buying without first selling a current home: If you are sure there is no possible way for you to get a mortgage, it's time to start thinking outside the box. Take Jane's story for example. She wants to buy a house without first selling her existing home. Even though several big banks told her no, I'm glad Jane isn't giving up. And I'm super glad she wrote me.
If you've been turned down for mortgage approval or have a friend who can't get a home loan, I hope you'll read the 5 out-of-the-box ideas I passed onto Jane at How to Buy a House Without Selling Your Current Home.
Jan 18, 2012
Buying Without Selling a Home
Ask Kate about buying without selling a current home: Kate, my husband and I moved to the USA three years ago and as a result have very little credit history.
Permalink -- click for full blog post "Buying Without Selling a Home"
Jan 15, 2012
Reduce Your Vulnerability - Ask Kate Tips to Successful Cash Out Mortgage Refinancing
Bb asks Kate for tips to successful cash-out mortgage refinancing: Kate, I've never refinanced before and am hoping to get some cash to remodel my parents' home. Is there any advice that you can offer to help me through the refinancing process?
Don't put your home and mortgage at risk when you refinance. Get Ask Kate's time-proven tips to Successful Cash-Out Mortgage Refinancing.
Jan 15, 2012
Empowering Video from Making Home Affordable Program | How To Stop Mortgage Foreclosure
Watch this empowering video from Making Home Affordable Refinance Program and stop mortgage foreclosure: You will sleep better at night if you learn what to do to Stop Mortgage Foreclosure! Watch this how-to video and get a second chance as a homeowner. Learn what you need to do before you begin the Making Home Affordable Program.
Jan 15, 2012
Cautionary Cash Out Mortgage Refinancing Tip
Ask Kate: Cautionary Cash-Out Mortgage Refinancing Tip! Hi Kate, it is nice to know that there is someone out there that has taken the time to answer questions
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Jan 13, 2012
Mortgage Refi Tips | Do I have to pay homeowners insurance and property taxes through the escrow company when refinancing
Ask Kate Mortgage Refi Tips: Do I have to pay homeowners insurance and property taxes through the escrow company when I'm refinancing?
Hi Kate, For a home mortgage refi in California, do I have to prepay my home insurance renewal and property taxes through the escrow company?
Ask Kate Answers: In the west, most mortgage transactions are closed by an escrow company who assists the lender with the initial payments of property taxes and homeowner's insurance. More on this at How To Get a Mortgage - Meet Escrow Your Neutral Watch Dog
However, your mortgage lender may require ongoing escrow accounts for your homeowners insurance and property taxes. Called impound accounts or escrows, the Escrow Company has nothing to do with them. The funds are taken from your mortgage payments and placed in a dedicated account to be held until your homeowners insurance and property taxes are paid by your lender.
In case you were wondering, some homeowners pay their own homeowners insurance and property taxes, as determined by the terms of their mortgage.
Now go to Ask Kate Mortgage Refi Tips to determine if your mortgage refinance is worth the cost.
Jan 12, 2012
Today's Best Mortgage Rates and Trends | Get-Your-Best-Mortgage-Rate.com | January 11, 2012
Could this be a trend? Today's Best Mortgage Rates and Trends reveal averages in interest rates across the nation for the 30 year fixed mortgage rates are below 4% for six weeks in a row! Here is the summary:
30 year fixed rate mortgage averaged 3.89 percent, down from last week's 3.91, and down from 4.71 percent this time last year.
15 year fixed rate mortgage averaged 3.16 percent, down from last week's 3.23, and down from 4.08 percent this time last year.
5 year fixed - 25 year adjustable mortgage rates averaged 2.82 percent, down from last week's 2.86, and down from 3.72 percent this time last year.
1 year adjustable mortgage rates averaged 2.76 percent, down slightly from 2.80 last week, and down from 3.23 percent this time last year.
Jan 11, 2012
Ask Kate About Hidden Cost of PMI
Ask Kate about the hidden cost of PMI (Private Mortgage Insurance): Hi Kate, I am refinancing my home that I bought in 2010. I do not have any money towards
Permalink -- click for full blog post "Ask Kate About Hidden Cost of PMI"
Jan 11, 2012
Britney Asks Kate how to Refi an Underwater Mortgage with PMI
Ask Kate: How do I refi my underwater mortgage with PMI when I owe more than the house is worth? Britney and her husband bought their first home in 2006 but now their mortgage is underwater.
That means their home has dropped in value and their equity is in negative territory. Certainly not a homeowner's dream but Kate has answers.
Get Kate's 3-step plan to Successfully Refi Your Underwater Mortgage with PMI.
Jan 8, 2012
Reverse Mortgage Pitfalls For Heirs
Ask Kate about Reverse Mortgage Pitfalls For Heirs: Hi Kate, I am told to obtain a reverse mortgage, my home needs little to no equity. My concern is the
Permalink -- click for full blog post "Reverse Mortgage Pitfalls For Heirs"
Jan 6, 2012
Announcing Zach in List of Mortgage Companies in Texas
Announcing Zach, mortgage originator in Plano, TX. Go to my free mortgage lender directory List of Mortgage Companies in Texas to find out what makes Zach tick. Tell your friends too!
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Jan 6, 2012
Super Kate's Best Mortgage Rate Report for January 5, 2012
Super Kate's Best Mortgage Rate Report for January 5, 2012
Today's 30 year fixed rate mortgage slides below 4% for the 5th consecutive week. Awesome!
Now for this week's update: Average mortgage rates across the USA this week are as follows:
30 year fixed mortgage rates averaged 3.91 percent, down from last week's 3.95, and down from 4.77 percent this time last year.
15 year fixed mortgage rates averaged 3.23 percent, down from last week's 3.24, and down from 4.13 percent this time last year.
5 year fixed - 25 year adjustable mortgage rates averaged 2.86 percent, down from last week's 2.88, and down from 3.75 percent this time last year.
1 year adjustable mortgage rates averaged 2.80 percent, up slightly from 2.78 last week, and down from 3.24 percent this time last year.
Jan 6, 2012
How to Avoid Raw Deals while Refinancing a Home Mortgage| Get-Your-Best-Mortgage-Rate.com
Ask Kate how to avoid raw deals while refinancing a home mortgage: The Nice family thought refinancing with their current mortgage lender would save them money.
It all sounded too good to be true, and now it seems like it was. Although the Nice's from New York were offered a screamin' deal to refinance for $100, at last account, their mortgage closing costs have soared to $4,000.
How about you? Have you ever felt trapped in a refinance that's going from bad to worse? Learn how to prevent ending up with a raw deal next time you refinance by going to Refinancing a Home Mortgage to Save Money, I Think. See you there!
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"Can I do a Mortgage Loan Modification myself?" The answer is yes. But find out the first question you really should be asking.
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