Chances are, if you own a home, you’ve thought about it. “In general, obviously, everyone wants to not have a mortgage,” says Gordy Bright, the Dallas-based senior vice president of business development for Standard Mortgage Corporation. So the question is: Should you pay off your mortgage early if you can? If you come into a
The Former Fairway Independent Mortgage Corporation Becomes Fairway Home Mortgage MADISON, Wis., July 2, 2025 /PRNewswire/ — Fairway Independent Mortgage Corporation announced today that it is changing its name to Fairway Home Mortgage. Fairway Independent Mortgage Corporation Fairway Home Mortgage, the nation’s #2 overall retail mortgage lender, had been operating under its original name since
What stood out from the end of June data was the refinance index increasing 7% from the previous week and coming in 40% higher than the same week one year ago. The refinance share of mortgage activity increased to 40.1% of total applications from 38.4% the previous week. “Mortgage rates were lower across all loan
With the mortgage market in turnaround, many homeowners are looking to tap their home equity rather than sell. One of the largest home lenders in the U.S., Rocket Mortgage, also has some of the most generous limits on home equity loans: up to $500,000. We also like that this online lender consistently ranks tops for
Janelle from Raleigh, North Carolina, says she “did the ultimate no-no” when she bought a house with someone to whom she wasn’t married. After about a year, they broke up and she moved out. Now, they’re four months behind in mortgage payments, haven’t been able to sell the house and are facing foreclosure. She’s also
Much of the recent movement in rates can be tied to the Trump administration’s political machinations at the Federal Reserve. The president has continued to point fingers at Fed Chair Jerome Powell for failing to lower rates more quickly, even as inflation nears the Fed’s goal of 2% per year and unemployment remains relatively low
Imagine this scenario: Samantha is retired at 69, but a few years back she took out a reverse mortgage. Now, she’d like to be done with it, especially since the loan comes with a hefty interest rate of 6.75%. She currently has about $375,000 in home equity while her reverse mortgage loan is close to
With the right agent, it’s still possible to find an affordable home. Mary Beth Eastman | for AddressUSA Right now, analysts are predicting that 30-year fixed mortgage rates will remain as they are, hovering between 6% and 7% for the next two years. While this can be disheartening news for potential homebuyers, finding an affordable
Key Takeaways Mortgage rates have reversed course dramatically after surging in mid-May during debate over President Trump’s proposed tax bill. The average rate for new 30-year fixed-rate loans is now 6.76%, down 36 basis points since May 23. Other loan types have also dropped: 15-year rates are down 38 basis points, and jumbo 30-year loans
Factors influencing current mortgage rates Today’s mortgage rates are influenced by economic and market conditions, as well as personal factors. The rate you’re quoted by a lender might be higher or lower than the national average. Here are some of the items considered when calculating your mortgage rate: 10-year Treasury yield: Current mortgage rates, especially