Posts Tagged ‘birminghamrealtor’
Don’t expect Reverse mortgage rates to fall after the Fed’s interest-rate cuts.
But here’s one move borrowers can make right now.Waiting for the Fed to cut so Reverse Mortgage rates will go down is a ‘flawed’ idea, one professor says. The 30-year mortgage rate fell to the lowest level in a year in early September, a week before the Federal Reserve is expected to deliver a rate…
Read MoreUse a Reverse Mortgage Purchase to buy a house.
Peter is 75 years old and is beginning to struggle to pay for and maintain his existing $750,000 home. So, he was planning on selling that home, netting about $500,000, and using the proceeds to pay cash for a new $500,000 home in a maintenance-free senior community.· His only income is his $3,500 a month…
Read More3 things retirees should know about reverse mortgage rates now
There are a few big things retirees should know about reverse mortgage rates in today’s market. The Federal Reserve announced its first rate cut of 2025 yesterday, lowering its benchmark rate by a quarter of a percentage point. After holding steady for months in the face of stubborn inflation, the Fed is now signaling that…
Read MoreMortgage rates have been coming down and are likely to fall further
But that’s a sign of a weakening economy.Housingby Mitchell HartmanSaveShare Unlike the price of a lot of things in this economy, the price of borrowing money to buy a house has been going down: The average 30-year fixed-rate mortgage fell to 6.5% last week, according to Freddie Mac. Mortgage Daily News reported that this week, a top-tier mortgage…
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