The Fed and Your Rate

The Federal Reserve, commonly referred to as the Fed, is the central bank of the U.S. The branch that is in charge of setting the Federal Funds Rate is the Federal Open Market Committee (FOMC). The FOMC indirectly affects mortgage rates by controlling the amount of money that circulates in the economy. FOMC meetings occur ...

It’s Time to Check Your Rate

According to a Bankrate.com survey, 35% of homeowners don’t know what their mortgage rate is. This is very understandable as once you go through the mortgage process and start making payments, it’s an easy thing to just set and forget. What’s more important than knowing your rate, is knowing how much money you can save ...

Mortgage Myths Revealed

Myth: The Interest Rate Determines The True Cost Of The Mortgage The annual percentage rate (APR) is what is used to determine the true cost of the mortgage. The APR includes the interest rate, points, mortgage insurance, and all other fees. This figure will give you a better idea of the total cost over the ...