APR is an acronym for Annual Percentage Rate. It’s a government-mandated calculation meant to simplify the comparison of mortgage options. It is probably the most misunderstood number at any closing or with any application. A loan’s APR can always be found in the top-left corner of the Federal Truth-In-Lending Disclosure. Because APR is expressed as a percentage, [...]
Read the full article →The last 7 business days have been a roller coaster for mortgage rates – mostly the climb up to the top of the Coaster, unfortunately. Mortgage rates are based on Mortgage Bonds’ prices. When the Mortgage bond prices fall, rates go higher, and when the bond prices rise, rates are falling. The picture below show [...]
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