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Is It Worth Breaking Your Fixed-Rate Mortgage?

Marco Santarelli

For many, the allure of a fixed-rate mortgage lies in its predictability – consistent monthly payments and the comfort of knowing your interest rate won't fluctuate. However, life throws curveballs, and sometimes circumstances may force you to reconsider your mortgage strategy.

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What is a Fixed-Rate Mortgage?

Zolo

Learn all about fixed rate mortgages and whether this mortgage type is right for you. The post What is a Fixed-Rate Mortgage? appeared first on Zolo.

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Fixed-rate mortgages favoured by first-timers; hybrid mortgage introduced

REM Online

The original post can be found at the following URL: Fixed-rate mortgages favoured by first-timers; hybrid mortgage introduced. A recent survey by BMO says 57 per cent of homeowners are planning to opt for a fixed-rate mortgage.

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ARM vs. Fixed-Rate Mortgage: Which Home Loan Is Better for You?

Realtor.com

Two of the main types of mortgages home buyers consider getting are a fixed-rate mortgage and an adjustable-rate mortgage, or ARM. In a nutshell, a fixed-rate mortgage has an interest rate that stays the same over the life of the loan. Fixed-rate mortgage.

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Mortgage rates continue a downward trend in the twilight of 2023

Housing Wire

As we prepare to bid adieu to 2023, mortgage rates this week again stayed below seven percent. The 30-year fixed-rate mortgage averaged 6.61% as of Dec. 28, a slight decrease from the 6.67% rate recorded on Dec. 21 according to Freddie Mac ‘s Primary Mortgage Market Survey released on Thursday.

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Fewer people are submitting mortgage applications

Housing Wire

The average contract interest rate for 15-year fixed-rate mortgages increased to 2.56% from 2.53% The average contract interest rate for 5/1 ARMs saw another week of dramatic fluctuation, increasing to 2.54% from 2.81%. The post Fewer people are submitting mortgage applications appeared first on HousingWire.

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Homeowners with ultra-low mortgage rates ‘saved’ $600B, offset Fed hikes: Swiss Re Institute

Housing Wire

As a result, by the end of June 2024, the market rate for mortgages was near 7%, compared to an average existing mortgage rate of about 4%. In total, 95% of US home loans are 15- or 30-year fixed-rate mortgages, and more than half still pay less than 4%. “We