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.
Let’s take a look at how a temporary mortgage buydown concession could reduce your interest rate and make your initial monthly payments more affordable.
Read more about Reducing Your Mortgage Rate and Payment With a Buydown
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).
Read more about Everything You Need to Know About the VA Funding Fee
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.
Understand how mortgage rates work and get answers to your frequently asked questions.
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?
Read more about Is a 15-Year Fixed-Rate 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.
Read more about The Fed Is "Tapering" — What This “Pit Stop” Means For Mortgages
UPDATE — The U.S. Federal Reserve once again announced that the federal funds rate would remain at near-zero levels.*
Read more about Your Guide to the Federal Reserve and Mortgages
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.
Read more about With the Adverse Market Refinance Fee Eliminated, It’s a Great Time to Refinance
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.