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A PENCIL Is Needed for Accurate Mortgage Quotes & Pre Approvals To get accurate and precise mortgage interest rate quote or a proper mortgage preapproval or prequalification you need a ...

Why Are Mortgage Rates Still So Low?

Why Are Mortgage Rates Still So Low? Mortgage Rates Solidly Below 4%

For 10 out of the last 11 weeks,  mortgage rates  have remained below the four-percent mark.

The national average 30-year fixed rate rose just 1 basis point (0.01%) to 3.93% on Thursday, says Freddie Mac.

You wouldn't think rates would be this low.

The stock market just crested 22,000 for the first time in history. Companies are reporting healthy earnings.

Typically, rates rise in such an environment. But they just won't budge. It's a golden opportunity for mortgage shoppers to secure an affordable payment while rates are still low.

Click to see today's rates (Aug 4th, 2017) It's All About Inflation

Mortgage rates remain calm when inflation is low.

Inflation eats into profits from the assets that back mortgages. In other words, investors lose money when they hold a low-interest note while inflation climbs.

KENNETH R. HARNEY: CFPB cracks down on 'credit-repair' companies


You’ve almost certainly seen or heard pitches for “credit repair” services promising to clean up your credit problems, reduce your debt, or even raise your credit scores by 100 points or more. 

Come-ons like these can be especially seductive for people seeking to buy a home and apply for a mortgage who have negative items in their credit reports. In order to qualify for a loan, they’re told, they need to make their credit look better — mainly by neutralizing the bad stuff in their files at the national credit bureaus, whether it’s accurate or not. But mortgage and credit industry experts warn that repair services can be far more harmful to home buyers than they suspect — even get them rejected on the spot. 

Two new legal settlements from the Consumer Financial Protection Bureau — involving more than $2 million in penalties against credit repair companies — offer mortgage applicants sobering reminders about what to avoid if you feel you need help with your credit. 

How accurate are those mortgage calculators when it comes to how much your monthly payment will be?

I'm looking to buy a house and the realty agency that I am looking at has a mortgage calculator on their website. Here are the numbers.

Those are accurate numbers for financing 95,000 for 30 years at 5%. The calculators are only as accurate as the numbers you feed them. A lot of them don't include things like PMI, homeowners insurance and other items that you will have to put in escrow.