by Athena Paquette | Nov 17, 2022 | Blog
I have talked about this before but I think it is worth revisiting after our talk last week about the prime rate. A mortgage is a loan or debt that is secured by real estate. In some states it is also the word used for the lien that is put on the property to secure...
by Athena Paquette | Sep 26, 2022 | Blog
I have talked about this before but I think it is worth revisiting after our talk last week about the prime rate. The Federal Reserve raised the Fed Funds rate (often confused with the prime rate) by 0.75% this week.to 1.75% it was 0.25% a year ago. The highest 1-day...
by Athena Paquette | Sep 19, 2022 | Blog
What do you do when mortgage interest rates jump up 2% in 4 months? Don’t go LONG, go SHORT use a HYBRID ARM loan ARM means adjustable-rate mortgage. But some people are not comfortable with the idea that their mortgage payment and that the interest rate will start...
by Athena Paquette | Sep 12, 2022 | Blog
When rates go up, we usually see a switch over from the 30 year fixed to ARM loans. Why go LONG at a high rate when you can go short at a lower interest rate and get the upfront savings? People do this to help ease the payment shock of rates going up and to help them...
by Athena Paquette | Sep 7, 2022 | Blog
Understanding how a mortgage works helps you get ahead in the financial game. A mortgage is a debt paid over time unlike rent that can be adjusted (usually increased not decreased) at the whim of the landlord, the mortgage is a contract with set terms. Yes it’s...
by Athena Paquette | Mar 26, 2022 | Blog
In June 2021 the 30 year fixed hit it’s lowest in history for a blip at 2.375% 30 year fixed owner occupied confirming loan limit which at the time was $546,000. A mortgage of $546,000 at 2.375% 30 year fixed conforming rate gave you a payment of $2122.04. If you...
