Mortgage rates have been back on the rise recently and that’s getting a lot of attention from the press. If you’ve been following the headlines, you may have even seen rates recently reached their highest level in over two decades.
Earlier this year, DC's Home Buying Assistance Program (HPAP) ran out of funds for homebuyers already under contract on homes around the city. As the new fiscal year begins, they are implementing a tool to avoid that happening again.
Freddie Mac launched a new tool on Monday that will give home buyers and mortgage lenders an easier way to look for down payment assistance.
As long-term mortgage rates reach heights not seen in 20 years, adjustable rate mortgages are seeing renewed interest.
A mortgage rate buydown is a strategy used by homebuyers to reduce the interest rate on their mortgage loan. This can be done by paying extra money at closing, which is then used to subsidize the interest rate for a certain period of time.