mortgage Archives - Financial Trend Forecaster

How Successful is the HARP Government Mortgage Refinance Program?

Leave a Comment / Economic Trends, Housing / By Guest Contributor

H.A.R.P. Government Mortgage Refinance Program It’s been nearly four years since the original version of the Home Affordable Refinance Program (HARP) was announced by the White House and the Federal Housing Finance Agency (FHFA). HARP is part of an Obama administration initiative to bring stability to the U.S. housing market by helping homeowners avoid foreclosure. […]

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Get A Lower Interest Rate on Your Mortgage

Housing, Mortgage / By Guest Contributor

These days very few people can afford to buy a house for cash. So, if you’re looking to purchase a new home, you’re probably planning on getting a mortgage. Obviously, that requires you to pay additional interest to the bank, adding thousands of dollars to the purchase price. By making some smart choices before you

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Differences Between Pre-Qualified and Pre-Approved For a Home Loan

Mortgage / By Guest Contributor

Pre-Qualified vs. Pre-Approved for a Home Loan- People commonly use the terms pre-approval and pre-qualified interchangeably when they are in the market to buy a home. However, these are two entirely different concepts, and it’s important to understand the difference between the two. One is an estimate, the other is a tentative commitment, and neither is

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Using the MIP to Decide- When to Refinance

5 Comments / Mortgage / By Tim McMahon

The MIP (Moore Inflation Predictor) is our proprietary index that projects future inflation rates one year into the future. It uses a “fan” style with varying level of likelihood that certain rates will be attained. If you are considering refinancing (see When is it Right to Refinance? ) naturally you want the best rate. In

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A Rising Market Won’t Stop the “Economic Rot” Beneath

Leave a Comment / Economic Trends / By Elliott Wave International

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When is it Right to Refinance?

2 Comments / Mortgage / By Tim McMahon

With “everyone” talking about the historically low mortgage rates you are ready to decide if it “pays” to refinance. The “rule of thumb” supplied by mortgage companies is that if you can reduce your interest rate by 1% it is usually profitable. But there is more to it than that. Like how long are you

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Low Mortgage Rates – Reduce Your Payment or the Length of the Loan?

Leave a Comment / Mortgage / By Tim McMahon

Prior to 2008 current mortgage rates were at their lowest levels in decades and many people were refinancing. At the time I warned that “this trend seems dangerous to me because rather than using this as an opportunity to shorten the life of their mortgage people are just reducing their payments.” Or worse still they were

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How to find a Good Mortgage

3 Comments / Mortgage / By Tim McMahon

It is always a good idea to compare mortgage rates from several different companies. But there are several factors to keep in mind. The lowest rate isn’t always the best deal. Other factors to consider are “points” and “closing costs”. Points are simply additional finance charges tacked on to the beginning of a loan. They

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A Bi-Weekly Mortgage can Save You Thousands

Leave a Comment / Calculators / By Tim McMahon

How to Save $$$ on Your Mortgage You can save literally thousands of dollars and quite possibly “tens of thousands” of dollars by following this simply relatively painless method. By using this simple Bi-Weekly mortgage system to make your mortgage payments you drastically reduce the total amount of your interest payments and you can even cut

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