Mortgage points, also known as discount points or origination points, are fees paid by borrowers at closing to reduce the interest rate on their mortgage loan. Each point typically costs 1% of the total loan amount and can lower the interest rate by … [Continue reading]
What’s Ahead For Mortgage Rates This Week – May 30, 2023
Last week’s economic news included readings on new and pending home sales and inflation. The final monthly reading for May consumer sentiment was released along with weekly readings on mortgage rates and jobless claims. Shortage of … [Continue reading]
What is the Difference Between a Reverse Mortgage and a Home Equity Conversion Mortgage?
A reverse mortgage and a home equity conversion mortgage (HECM) are both types of loan products that allow homeowners to tap into the equity they have built up in their homes. However, there are some important differences between the two. A reverse … [Continue reading]
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