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Ever wonder why you get spammed after you fill out an online form for mortgage rates? At Rates in Motion, we don't do that.

Mortgage rates increase for Tuesday

30-year fixed mortgages

The average 30-year fixed-mortgage rate is 4.16 percent, an increase of 5 basis points over the last seven days. A month ago, the average rate on a 30-year fixed mortgage was lower, at 3.85 percent.

At the current average rate, you’ll pay principal and interest of $486.69 for every $100,000 you borrow. That’s an additional $2.91 per $100,000 compared to last week.

You can use Bankrate’s mortgage calculator to figure out your monthly payments and see how much you’ll save by adding extra payments. It will also help you calculate how much interest you’ll pay over the life of the loan.

15-year fixed mortgages

The average 15-year fixed-mortgage rate is 3.50 percent, up 5 basis points since the same time last week.

Monthly payments on a 15-year fixed mortgage at that rate will cost around $715 per $100,000 borrowed. That may squeeze your monthly budget than a 30-year mortgage would, but it comes with some big advantages: You’ll save thousands of dollars over the life of the loan in total interest paid and build equity much faster.

Wealthfront app to help millennials with this lofty goal

The digital platform's Path app will now combine a client's financial information with third-party projections on home prices and mortgage rates to estimate what type of mortgage an investor can expect to qualify for, when they can afford it, and what they need financially to get there. The estimation accounts for the client's entire balance sheet, accounting for expenses beyond a mortgage like closing costs, property taxes, maintenance and insurance.

The firm will automatically show investors how saving for a home will impact progress towards their other financial goals, and clients can use sliding scales to see how waiting to own a home affects savings.

The app will use a projection of the home's future value to show Wealthfront clients how home equity will affect retirement. Path also shows investors how saving for a home impacts their other goals, and clients can use sliding scales to see how different time horizons for buying a home impacts how much they need to save.

Mortgage Rates?

My mortgage rate went up extremely high and now I'm in aw of it dont want to loose my house...What shall i do...I though that a Fixed rate would keep me at my same payment...Someone with a lot of knowledge plz help...And Thank You for your help ...


I wish I could help you more. 1) Find a good, reputable mortgage broker in your area. They can look over what you have and explain it.