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.
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.
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?
Mortgage rates have been at record lows for nearly two years. Learn what the Fed’s tapering is and what it can mean for rates in the foreseeable future.
UPDATE — The U.S. Federal Reserve once again announced that the federal funds rate would remain at near-zero levels.*
With rates so low and the removal of the Adverse Market Refinance Fee by the FHFA, it’s an ideal time to refinance. Learn more.
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.