archiveMortgages

Key Takeaways Foreclosed homes can seem like a great opportunity to save money on a home purchase, but be sure to investigate so you understand the risks. There are a few different ways to purchase a foreclosed home including a short sale, at auction, buying from the bank or buying from the government. Buying a foreclosed home is risky since you're purchasing the home "as is," and that can entail additional costs down the line. According to U.S. Foreclosure Market Reports, foreclosures are steadily increasing and are nearing pre-pandemic levels....

What Are Current Mortgage Rates? Mortgage rates stayed relatively steady around the 7% mark this week, according to the Mortgage Bankers Association. Higher mortgage interest rates during the past several weeks have stalled home purchase activity ahead of the spring season. Mortgage interest rates are forecasted to decline somewhat throughout 2024, as the Federal Reserve projects rate cuts will begin sometime this year. Here are the current mortgage rates, as of Feb. 28: 30-year fixed: 7.04% with 0.67 points (previous week: 7.06% with 0.66 points). 15-year fixed: 6.7% with 0.68...