It’s not easy being a homebuyer in today’s market. If low inventory and high home prices weren’t enough, once record-low mortgage rates have risen to levels not seen since 2008. It’s enough to inspire anyone to consider all sorts of...
Adjustable-rate mortgages (ARMs) have surged in popularity, reaching their highest numbers since the Great Recession. Recent volatility in the housing market has made ARMs an attractive option for borrowers seeking low initial interest rates. While better regulated than they once...
Buying another property is a dream for many homeowners. Who wouldn’t want to own an additional home, or even earn income from it? But getting a mortgage for an investment property or second home is more complicated than getting a...
While strolling through your neighborhood (or scrolling through online listings), you might see signs on homes that read “pending” or “contingent.” When a home you’ve been eyeing finds itself in either status, you may wonder if it’s now too late...
From day one, we’ve strived to give homebuyers a single point of access to the mortgage market. So we’re excited to share significant progress toward that vision with the expansion of Morty’s product offerings and coverage area! Homebuyers can now...
Achieving financial literacy is an important goal for anyone who wants to take control of their finances and put themselves on a path to long-term financial wellness. And, it’s especially so for homebuyers in today’s market. “As rates have risen...
When shopping for your mortgage, you may already know some of the one-time costs involved, such as down payment and closing costs. But there are also some recurring costs — like mortgage insurance — that you should get familiar with,...
In recent years, women have become a powerful force in homebuying, comprising 19% of homebuyers in the U.S. But this hasn’t always been the case as historically, women and other minority groups have faced systemic discrimination in housing. While women...
While flipping through listing statuses online, you may come across the word “contingency” – just one of the many terms and acronyms that come up during the homebuying journey. But whether or not it applies to your homebuying experience, it’s...
Few things compare to the fluttery feeling in your stomach the day you close on your home. After all, home loans often require homebuyers to have down payments and closing costs in hand — and those can be some hefty...
You’ve found your dream home: perhaps it’s in that ideal neighborhood, has a spacious kitchen, a spa-like bathroom, and a sprawling yard with flawless landscaping. But that perfect match may also come with a hefty price tag. When it comes...
What does homeowners insurance cover? It’s a question you want to answer before you’re knee-deep into buying your first home. Understanding the ins and outs of homeowners insurance before you purchase a home can help you find the best coverage...
You may have heard of the term “annual percentage rate (APR)” but might not understand exactly what it means. But just like other important mortgage terms like rate lock, it’s important to understand APR from top to bottom because it...
Not parting with a chunk of change in the form of a down payment to buy a house — sounds like a dream, right? If you get the chance to put no money down for a home, you might feel...
When you plan to sell your home, you will most likely want to get as much money out of the sale as possible. But how do you do that? Your buyer’s mortgage lender orders a home appraisal, which is the...
Can you think of one of the earliest and most important steps involved in getting a mortgage? If you guessed getting a mortgage pre-approval, you’re right. You may think that getting a pre-approval involves mounds of paperwork and a deep...
“How much is my house worth?” It’s a major question on sellers’ minds, though current homeowners may wonder the same thing, especially if they’re curious about their home’s assessed value for tax purposes. Do you remember plunking down money for...
Today, I’m proud to announce Morty’s Series B financing, which we’ll use to fuel our growth and further our mission of democratizing access to home financing solutions for home buyers across the country. I’m thrilled to welcome Julia Klein from...
We recently launched the Closing Date Promise, our commitment to making sure Morty customers’ closings happen on time. The below explains why closings can be such a pain and what to watch out for. A closing date is the date...
Some mortgage rates crept above 6% this week, as the market reacted to higher-than-expected inflation data and sought to price in anticipated rate hikes coming out of this week’s Federal Reserve meeting.
Not sure what to do? Ask Robert!We’ll address homebuyer FAQs each week. Submit your question for a chance to be featured in an upcoming newsletter. Email MortyReport@morty.com or find us on Twitter @HiMorty. What to do Want to lower your...
Stay in the loop. Click here to subscribe to our bi-weekly newsletter. Plus, check out The Morty Report archives to catch up on previous editions. Read more of Robert’s recent insights: In case you missed it The chart from Axios...
May 19, 2022. Adjustable-rate mortgages (ARMs) have made a surprising comeback as more homebuyers seek alternatives to 15- and 30-year fixed-rate mortgages.
Mortgage rates change quickly – and last week was no exception. Read what happened with the market, along with key takeaways from Wednesday’s Fed meeting and what it could mean for you in the long run.