Mortgage & Real Estate News This Week

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The sound of falling mortgage rates echoed through Bankrate’s virtual offices this week. Here are some top news to help you stay on top of the home and mortgage market this weekend.

1.5 charts explaining current trends in the housing sector

Sometimes the words just don’t convey this weirdness. To truly appreciate just how serious the current real estate situation is, you may have to turn to visuals. This week we rounded data originally compiled by John Burns Real Estate Consulting to help you understand what’s going on there.

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2. What the decline in Treasury yields means for mortgage rates

I understand if this subtitle has dimmed your eyes, but it’s still good to know that as Treasury yields are declining, mortgage rates usually fall as well. Thus, with bond yields falling this week, most experts expect another period of favorable interest rate conditions for home buyers and refinancing institutions.

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3. Don’t worry about selling a mortgage.

If you receive a letter in the mail or email stating that your mortgage has been sold to another company, don’t panic! This is completely normal practice in the mortgage industry, and aside from 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 your mortgage ahead of schedule.

Keeping a mortgage debt can be a burden, but it is generally considered good debt and generally has relatively low interest rates. If you are planning to use additional funds to pay off your mortgage, you may want to send this money somewhere elsesaid Michael Roberts, professor at the Wharton School of Business at the University of Pennsylvania.

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5. What you need to know about VA loan for repairs

If you are considering a home improvement project (like many others these days) and are eligible for a VA mortgage, you can get repair loan through a department that can save you money and help make it easier to finance your work.

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