MortgageNews_031317 (1)

February was another busy month in the mortgage industry. Here are some recent highlights and helpful articles:

Goldman Sachs: Mortgage interest rates will rise to 5.5% by 2019

Goldman Sachs’ analysts are predicting the 30-year mortgage rate to rise to 5.5% in 2019, an increase 1.5% over several years.

Key takeaway: while predictions are often wrong, keep an eye on interest rates if you’re planning on buying a home or refinancing your mortgage. 

 

New Thinking About Reverse Mortgages

More financial advisers are recommending homeowners 62 and up take a reverse mortgage line of credit to boost their nest egg.

Key takeaway: with inflation and interest rates predicted to rise, reverse mortgage credit lines could become increasingly beneficial for retirees.


Single Women Homebuyers: Your Guide To Getting It Right

Recent data found that single women are more than twice as likely to purchase a home than single men.

Key Takeaway: Taking time to carefully research the homebuying process can make your experience better. This article provides an excellent overview for single women as well as anyone preparing to buy a home.

Eight tips for refinancing as mortgage rates rise

With many analysts predicting higher mortgage rates over the next several years, many homeowners wonder if they’ve missed an opportunity to refinance their mortgage. This article provides some helpful tips for navigating the changing marketplace.

Key takeaway: by historical standards, mortgage interest rates are still low. With rates predicted to go higher, now could be a good time to consider refinancing.

Homeowners’ insurance 101: Getting your coverage right

This article provides helpful information on homeowners’ insurance, an important part of being a homeowner and protecting your home.

Key takeaway: choosing the right homeowners’ insurance is more than just finding the lowest premium.

 

Buying a home

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Refinancing a home

Take advantage of a lower rate that could reduce your monthly payment or change the term of your loan. Our outstanding customer service and commitment to provide transparent communications means that Open Mortgage makes your priorities our mission.