, whereas Wells Fargo doesn’t distinguish between FHA and government-backed loans up front.”
The good news is that borrowers are locking in low rates, according to an analysis of recent mortgages by Black Knight, a mortgage technology, data and analytics provider. In a sample of 30-year mortgage approvals from July 13 to July 15, more than 55% of borrowers“This suggests that locking in a 30-year rate that starts with a ‘2’ is certainly attainable, if not the current norm, for highly qualified applicants,” says Andy Walden, economist at Black Knight.
Along with saving money, this could be a good time for homeowners with an adjustable-rate mortgage to refinance into a new home loan with a lower, fixed rate. Likewise, homeowners who pay“Rates at historic lows mean just about everyone can save money by refinancing,” Kahan says.
These are excellent times to acquire new properties, refinance and invest in high yield income investments.
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