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Mortgage rate fluctuation return, but buyers remain active

February 10, 2023 affordability, buying, down payment, house hunting, rates, real estate, the morty report

Rates were volatile this week as the market adjusted to a range of mixed signals. The 1-2 punch of a lower Fed interest rate hike and strong jobs data sent rates back up this week, following a month of steady downward movement. This is driven to some extent by uncertainty around inflation – while the […]

Mortgage applications jump as buyer optimism returns

January 27, 2023 affordability, buying, credit, rates, real estate, the morty report

Buyer energy has returned to the market with benchmarks showing mortgage rates hitting some of their lowest levels since September in the past week. While they have ticked up again over the past few days, reflecting continued rate volatility in the market, some signs show that buyer optimism has renewed.

Where are home prices headed?

December 1, 2022 affordability, buying, house hunting, rates, real estate, the morty report

Experts look ahead to 2023, but conditions are tough to predict Heading towards the end of the year, we’re seeing a lot of discussion around home prices, along with projections on where they may be headed in the coming months.  The National Association of Realtors’ Chief Economist, Lawrence Yun, believes that prices will remain relatively […]

What to expect with rates as a volatile market adjusts

September 30, 2022 affordability, buying, rates, real estate, the morty report

Rates rise again, but volatility remains a constant Even as competition and inventory constraints loosen things up a bit, rising rates have kept affordability a challenge for buyers. We’ve seen significant volatility recently, not just in the wake of a much-expected rate hike from the Federal Reserve, but from world economic events like those surrounding the […]

Vacation Home and Investment Property Mortgages

May 26, 2022 down payment, investment, real estate

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 mortgage for your primary residence. If you’re thinking about adding another home to your property […]

The Morty Report: Welcome Aboard

March 25, 2022 buying, First Time Homebuyers, house hunting, mortgage, real estate

March 25, 2022. I’ll share my take on what’s happening in homebuying. My goal is to cut through the noise and share takeaways to help you to make informed decisions.

What is Cash-Out Refinancing and When is it a Good Option?

December 20, 2021 cash out refinance works, cash out refinancing, credit cards, credit score, equity in your home, equity lines of credit, higher interest rate, home equity lines, home equity loans, home loan, loan terms, lump sum, mortgage lender, mortgage loan, mortgage rate, mortgage refinance, personal loan, real estate, refinance calculator, student loans

What would you do with some extra cash in your pocket? Wipe out your credit card debt once and for all? Update your kitchen? Finally finish your basement? Pay off high-interest student loans or personal loans? Refinancing your mortgage with a cash-out refinance means you might get to check off all the boxes on your […]

How Much Down Payment to Buy a House?

November 29, 2021 20 down payment, buy a home, buy a house, closing costs, conventional loans, department of veterans affairs, fha loans, home loan, loan amount, loan programs, minimum down payment, monthly mortgage payment, mortgage loan, payment amount, payment loan, payment requirements, private mortgage insurance pmi, put 20, real estate

When you want to buy a home, you may not know all the details involved, including how much of a down payment you need.  When it comes to mastering a task, such as learning to ride a bike or learning about investments, someone may have taught you.  It’s the same with buying a house, so […]

How Much of Your Income Should You Spend on Your Mortgage?

October 13, 2021 28/36 rule, afford to spend, buy a home, debt including, debt payments, debt to income ratio, fha loan, financial decisions, front end ratio, interest rate, lenders typically, monthly mortgage payment, mortgage calculation, mortgage lender, mortgage loan, principal interest taxes and insurance, real estate, rule of thumb, student loans

What percentage of income should go to mortgage payments?  It’s a good question, particularly when you’re ready to buy a home for the first time. Just like other important financial decisions, you want your monthly mortgage payment to fit seamlessly into your lifestyle.  Morty can help you determine what you can comfortably afford to spend […]

How to Calculate Your Mortgage Payment

October 7, 2021 20 down payment, buying a home, closing costs, credit cards, credit score, debt to income ratio, fixed rate mortgage, home loan, home price, loan amount, loan term, monthly mortgage payment, mortgage calculator, mortgage lender, mortgage loan, number of years, payment calculator, principal and interest, real estate

When shopping for your mortgage or refinancing your mortgage, one of your top-of-mind questions probably sounds a lot like: “What will my monthly mortgage payment be, and how will it fit into my budget?”  Your loan amount, principal, interest, term and more play into your monthly payment amount. You will want to feel comfortable making […]

What is a Mortgage? A Guide for Beginners in 2022

September 29, 2021 adjustable rate mortgage arm, adjustable rate mortgages, adjustable rates, borrow money, buy a home, credit report, credit score, fha loans, fixed rate mortgages, home loan, homeowner insurance, monthly mortgage payment, mortgage is a loan, mortgage rates, private mortgage insurance, purchase a home, purchase price, real estate, repay the loan

Getting a mortgage may seem like a complex task with many layers and steps involved. However, the first step to breaking down the process involves answering the most basic question: “What is a mortgage?” Understanding the very basics of mortgages may help you gain more confidence as you search for your dream home. We’ll walk […]

How Much House Can I Afford?

September 14, 2021 30 years, buying a home, car loans, closing costs, credit cards, credit score, debt to income ratio, fha loans, gross monthly income, home affordability calculator, housing budget, how much house can i afford, monthly mortgage payments, mortgage loans, mortgage payment, mortgage rates, purchase price, real estate, total monthly debts, va loans

When buying a home, one of your first thoughts probably turns to the following question: “How much house can I afford?”  You may wonder how large of a house you should and can purchase (especially when buying your first home). It’s one of the most important questions you can ask, because you want to feel […]

These Paint Colors Can Add Thousands to a Home’s Pricetag

January 23, 2020 buying, First Time Homebuyers, home, home improvement, home paint, homeownership, house hunting, investment, millennials, mortgage, paint colors, painting, real estate, renovations, selling, selling price, selling your home, zillow

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. […]

Your Final Walkthrough: What to Look For and When to Put on the Brakes

January 15, 2020 appraisals, buying, closing, down payment, First Time Homebuyers, home, homeownership, house hunting, investment, property inspection, real estate, realtors

You’re almost there, future homeowner! You’ve made a successful offer and sorted out your financing. Your future home appraised well, and it cleared a title search. Now, it’s time for your final walkthrough: one last look around before you officially close this deal. The point of a final walkthrough is to check that the home […]

When Should a Homebuyer Get Pre-Approved for a Mortgage?

December 4, 2017 buying, credit, mortgage prep, Pre-Approval, real estate

House Exterior - The Morty Blog

As a first-time homeowner, you may not know is exactly when in the home buying process you should tackle the mortgage question. Too many homebuyers wait to worry about home financing until they’re knee-deep in negotiations on their dream home. Discovering a credit or financing issue too late can derail your home-owning hopes and dreams. […]

5 Ways Closing on Your Mortgage Can Go Wrong (plus ways to deal)

October 31, 2017 appraisals, closing, flood insurance, mortgage prep, property inspection, real estate

This time next year, you could be standing in the doorway of your very own home. That is, of course, if can you avoid the pitfalls and perils that sometimes befall unwary would-be homeowners on the way to closing. Here are a few potentially scary scenarios that might already be keeping you up at night […]

Understanding Real Estate as an Investment

July 11, 2017 investing, investment, real estate, smart money

The house-flipping shows on t.v. make it look simple.  First, you find a home in need of a little love for a bargain price. Then, you buy it, fix it up, and sell the place quickly for a tidy profit. Easy-peasy—just make a few quick deals and boom! You’re a real estate investor. But like […]

The Best Apps for House Hunting

June 12, 2017 apps, house hunting, neighborhood, open house, real estate

Dwellr App

House hunting is tons of fun, but it’s also a lot of work. Here, we’ve got a rundown of some of our favorite apps for house hunters and soon-to-be-home owners. (If you haven’t yet, check out our Start-to-Finish Guide to House Hunting for tips and advice on finding the perfect home.) myFico myFICO – A […]

It’s Almost Always Cheaper to Buy Than It is to Rent

March 21, 2017 house hunting, real estate, renting

You’ve probably heard from well-meaning friends or relatives that renting is just throwing money away. That’s not entirely true, of course. Paying rent means you get a place to sleep and store your belongings. And having a place to live is nice. But once you hand over that rent check, you won’t see any of […]

Don’t Wait: Five Good Reasons to Buy a Home in 2017

February 6, 2017 down payment, open house, real estate, renting, taxes

House in the sun

Homeownership is a dream for many Americans. 2017 might just be the year to make that dream a reality and finally buy a home. If you’ve been on the fence about it, here are five excellent reasons to consider becoming a homeowner this year. Interest rates are still low, but starting to rise Mortgage interest rates […]

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Morty is a licensed mortgage broker. NMLS ID # 1429243. NMLS Consumer Access. All loans originated by Morty are funded by third party lenders. Morty, Inc. is authorized to do business as “Morty” in certain states. Morty is an equal housing lender.

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