U.S. home sales dropped 11.6% in September from the previous year, according to the RE/MAX National Housing Report. At the same time the median sales price rose 5.6% to $241,000, the 30th straight monthly increase in year-over-year prices. Available inven
Until the interest rate is locked, the credit you receive (or the price you pay) for an interest rate can change minute by minute. Once your interest rate is locked, as long as your loan closes within the allocated lock period, your interest rat
Mortgage brokers and lenders love to see borrowers with consistent, steady incomes. But not all borrowers have jobs that send a paycheck every two weeks. Of course, there are plenty of self-employed entrepreneurs, but there are also people who depend on t
As the unemployment rate has continued to improve, more Americans, including Utahns, have been able to keep up on their mortgage payments, pushing the national foreclosure rate to its lowest point since 2006. According to data from CoreLogic, foreclo
Mortgage amortization is intimidating-sounding (the word “amortization” literally means “to kill off”) that has to do with paying off your home loan. While it can be kind of tricky to understand exactly what amortiza
Private Mortgage Insurance (PMI) is a type of insurance that most borrowers may be required to pay if they are not making a down payment of 20% or more. While you may think you understand the concept of insurance, if you have never bought a house before,
