Mortgage and real estate news this week


The noise of falling mortgage rates echoed through Bankrate’s virtual booths this week. Here are some of the best stories to help you stay on top of the housing and mortgage markets this weekend.

1.5 graphs that explain current housing trends

Sometimes the words just don’t do the weirdness justice. In order to truly appreciate how extreme the current real estate situation is, you may need to turn to the visuals. This week, we’ve put together the data originally compiled by John Burns Real Estate Consulting to help you understand what’s going on there.

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2. What falling Treasury yields mean for mortgage rates

I understand that this subtitle dazzles your eyes, but it’s still good to know: As the yield on Treasury bonds goes down, so do mortgage rates. So, with bond yields falling this week, most experts expect another period of favorable interest conditions for homebuyers and refinancers.

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3. Don’t worry about selling your mortgage

If you receive a letter in the mail or an email informing you that your mortgage has been sold to another company, don’t panic! This is quite normal practice in the mortgage industry, and other than changing who you send your payments to, it rarely means anything to the terms of your loan. Greg McBride explains how mortgage transfers work and what they mean to borrowers.

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4. It doesn’t always make sense to pay off your mortgage early.

Mortgage debt can be a burden, but it’s generally considered good debt to have and tends to be relatively unattractive. If you plan to use additional funds to pay off your mortgage, you may want to direct that money elsewhere, said Michael Roberts, a professor at the Wharton School of Business at the University of Pennsylvania.

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5. What to Know About VA Home Improvement Loans

If you are considering a home improvement project (like so many others these days) and qualify for VA mortgages, you may be able to get a home improvement loan from the ministry, which can save you money. money and facilitate the financing of your work.

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