interest rates Articles

The Pennymac Mortgage Blog is where you'll find unbiased, useful info to help save you money, time and peace of mind during the mortgage process. If you have a mortgage or are about to get one, we think you'll find info here you can't always get elsewhere.

Everything You Need to Know About the VA Funding Fee

10.12.22

Establishing good credit takes time, and The U.S. Department of Veterans Affairs (VA) loan program is designed to help our service members and veterans achieve homeownership. With a government-insured VA home loan, eligible service members, veterans and their families can enjoy low interest rates and no down payments on qualified mortgages, while also eliminating the need to purchase private mortgage insurance (PMI).

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When is the Best Time to Buy a House?

09.20.22

When you’ve decided you want to move or buy a home, you might be wondering how important timing is. For some things in life, timing is everything. But for buying a house, timing is only part of the equation. Still, timing does play an important role in your homebuying experience and ultimately how much you might end up paying for your new house, so it’s important to consider when it’s a good time to buy a house.

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Mortgage Rates Explained

07.25.22

Understand how mortgage rates work and get answers to your frequently asked questions.

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Is a 15-Year Fixed-Rate Mortgage Right for You?

05.12.22

A 30-year mortgage has long been the industry norm, and for good reason: It allows the homebuyer to spread the loan out over a long period to keep payments as low as possible. But now that interest rates have dropped to near-record lows, 15-year mortgages are becoming more popular. Is a 15-year mortgage right for you?

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Your Guide to the Federal Reserve and Mortgages

01.26.22

UPDATE — The U.S. Federal Reserve once again announced that the federal funds rate would remain at near-zero levels.*

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Should I Lock My Mortgage Rate?

11.19.18

When you’re buying a house, you have more to consider than just which property to purchase. You need to learn about the mortgage process, including if and when you should apply for a rate lock.

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APR vs. Interest Rate: What's the Difference?

03.07.17

When it comes to comparing mortgage lenders, many new homebuyers confuse the annual percentage rate (APR) with the interest rate. In truth, these rates measure two very different things. Understanding the role that each of these numbers play in the total cost of your mortgage isn't only important for personal knowledge, it could save you thousands of dollars over the life of your loan.

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