Keith Gumbinger
Keith Gumbinger
cuts likely mortgage rates succeed
If the Fed's cuts succeed in stimulating the economy, then mortgage rates are actually likely to rise,
cut low mortgage people rates
With rates as low as they are people can cut years off the mortgage for the same monthly payment.
cuts economy fed investors mortgage rates
Mortgage rates come down when fixed-income investors think the economy is slowing, not because the Fed cuts rates.
borrow buyers cash flush home layer markets minimum money mortgage pay possible risk top value
Mortgage markets have been so flush with cash that home buyers are able to layer one risk on top of the other. It's possible to borrow more than the value of the home, put in no money of your own and pay a minimum monthly payment.
break cost eventually money mortgage supposed virtually
All mortgage money may eventually cost virtually the same. You're supposed to get a break (with ARMs). Where's the break?
less mortgage pay ultimately
If you're making a pre-payment on your mortgage principal, ultimately you'll pay less interest,
home mortgage taking
For most home buyers, especially first-time buyers, taking a 15-year (or 20-year) mortgage is out of the question.
card cause certainly change fall fallen might talk trying whether
It certainly could cause a change to the marketplace, ... But you're trying to talk about whether the 14th card might fall when first one hasn't fallen yet.
borrowers budgetary cushion extra financial impact manageable safe spending themselves year
Most borrowers have some financial cushion so the impact won't be immediate; spending an extra $380 is manageable at first. But it's safe to say there are some who will find themselves in budgetary difficulties a year or two down the road.
credit higher interest knock percentage points primary score
Listing the person with the higher credit score as the primary borrower, ... may knock as much as two percentage points off the interest rate.
either good sound
It doesn't sound like either of them got a particularly good deal.
beginning benefit cold interest people product rate selected welcome
Welcome to the cold reality. A lot of people selected short-term interest rate product and are now beginning to see how these things benefit the lender.
answer ask bank bankers believe ensure fixed helps loan obvious pitching product question rates rise variable
The question you need to ask yourself is, why would a bank be pitching you this product at this time? The obvious answer is that bankers believe rates will rise in the future. Getting you out of a fixed loan and into a variable one helps ensure profitability on your account.
cash expect exposure free period rates remain rising
This would free up cash now, while still minimizing their exposure to rising rates during the period they expect to remain in the house.