Call it a 2000s comeback: We have bucket hats, Bennifer and … adjustable-rate mortgages? We’re currently seeing a huge surge in adjustable-rate mortgages (ARMs) – the highest since the Great Recession in 2007-2009, after which they all but disappeared. But why now? What’s changed? “Pre-crisis, a range of other variable-rate loan products were all being offered … [Read more...] about The ABCs of ARMs: How Adjustable-Rate Mortgages Work
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 to buy. The two concepts can stir up a lot of confusion: What exactly do these statuses mean to both a buyer and seller? Can you … [Read more...] about Contingent vs. Pending: What’s the Difference?
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 find jumbo loan options and loans for investment properties in our online marketplace. Additionally, Morty has expanded its … [Read more...] about More Loan Options, In More Places
What to know now Interest rates have gone up (some above 4.5%), but current rates are still relatively low compared to historical averages (6+% in the early 2000’s).Higher rates don’t necessarily mean it’s a bad time to buy.Because rates are still volatile, you might see a gap between the rates offered by different lenders, so shop around.Affordability is the key factor. If … [Read more...] about The Morty Report: Welcome Aboard
Hoping to add a few dollars to the selling price of your current home? Then it might be time to break out the rollers, brushes, and painter’s tape. According to a recent study by the folks at Zillow, painting your front door a particular color can increase your home’s selling price by more than $6,000. On the flip side, if you’re looking to score a deal on a home in the … [Read more...] about These Paint Colors Can Add Thousands to a Home’s Pricetag