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Ali Klein

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757-366-8690 aklein@tidewaterhomefunding.com

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Blog Image: Can a Higher Interest Rate Actually be a Better Choice?

Can a Higher Interest Rate Actually be a Better Choice?

Mortgage interest rates are near record lows again. This can mean great deals for homebuyers and great savings for homebuyers. Some lenders will even start advertising rates that are at least a half point lower than the average national rate. Buyers and refinancers should be aware that these ultra-low rate deals come with strings attached. In some cases, it may actually be better to choose a higher rate option. Here’s what you need to know: Points In order to get some of these rock-bottom rate deals, borrowers are often required to pay discount points to the lender. One point is eq...

March 27th, 2020 | Interest Rates, Can a Higher Interest Rate Actually be a Better Choice?

Blog Image: How Does the Stock Market Affect Mortgage Rates?

How Does the Stock Market Affect Mortgage Rates?

When there are dramatic swings in the stock market, you may wonder how mortgage interest rates will be affected. What is the relationship between mortgage rates and the stock prices? Do they move together or in opposite directions?  Stocks and Mortgage Rates Both Mimic the Economy While the stock market is not directly related to mortgage rates, both are based on the basic movement of the economy.  When things are going swimmingly, both stock prices and mortgage rates tend to rise. They both generally fall when the economy is faltering. When investors are concerned about nation...

September 4th, 2019 | Interest Rates, How Does the Stock Market Affect Mortgage Rates?

Blog Image: What’s More Important: Lower Home Prices or Mortgage Rates?

What’s More Important: Lower Home Prices or Mortgage Rates?

When buying a home, there are several factors that affect how much mortgage you can afford. Two of the most important are the property prices and current mortgage interest rates. Is it better to search for the absolute lowest rate or is it more helpful to choose a less-expensive home? Here’s how the two factors are related and how to make the right choice. Mortgage Rate/Home Price Relationship Since higher mortgage rates make homebuying more expensive for buyers, you might think that home prices would tend to fall during high rate climates in order to compensate for those costs. Un...

July 31st, 2019 | Purchasing a Home, Interest Rates, What’s More Important: Lower Home Prices or Mortgage Rates?

Blog Image: What is Mortgage Amortization?

What is Mortgage Amortization?

If you have a fixed-rate home mortgage, you pay the exact same amount each month. But did you know that the amount of principal you pay toward the balance of your loan changes from month to month? This is called amortization and it is a method of distributing the interest and principal over the course of a loan so that it is completely paid off by the end of the loan term. Understanding how it works could help save you plenty of interest on your mortgage. How does it work? When you agree to buy a house at a certain price, in reality, you will end up paying way more than that price to you...

May 8th, 2019 | Credit, Interest Rates, What is Mortgage Amortization?

Blog Image: What Are Mortgage Points?

What Are Mortgage Points?

If you have ever checked out the current status of mortgage interest rates, you may have seen the average points listed next to the rates. What are these points and how do they affect your interest rate? Points Defined Mortgage points, or discount points, are upfront fees paid to your lender that allow you to “buy down” your interest rate on your home loan. The idea is that you are prepaying some of the interest on the mortgage, which gives you a lower rate. The more points you pay, the lower your interest rate will be. One point is equal to 1% of the total mortgage loan amou...

February 6th, 2019 | Interest Rates, Conventional Loans, Fixed Rate Mortgages, What Are Mortgage Points?

Blog Image: Why Do Mortgage Rates Go Up and Down?

Why Do Mortgage Rates Go Up and Down?

Mortgage interest rates fluctuate from week to week and they can make huge swings from decade to decade. In the early 1980s, for example, mortgage rates were as high as 18% while roughly 30 years later they are less than a third of that rate. What causes they changes in mortgage rates? What factors affect the direction of rates? The Fed The Federal Reserve is tasked with keeping balance between inflation and the national unemployment rate. One of the ways it influences this balance is with it federal funds rate – the interest rate that banks charge each other for overnight loans. T...

January 30th, 2019 | Interest Rates, Why Do Mortgage Rates Go Up and Down?

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