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Sign up for our Bimonthly Update!

When you sign up for the BWA newsletter you will receive our bimonthly Mortgage Market Update e-mail, with valuable information and insight from our President and Broker Floyd Walters. With 30 years of experience in the mortgage industry, these updates always prove interesting and useful.

 


 

Blog Image: Why ARM Loans Don’t Make Much Sense Right Now

Why ARM Loans Don’t Make Much Sense Right Now

If you are looking to buy a home soon or to refinance your current mortgage, you know that interest rates are very low.  In recent weeks, the average rate on a 30-year fixed-rate mortgage is below 3%. In fact, rates have been setting record lows for a while. And yet, you may have seen adjustable-rate mortgages advertised with interest rates below those stunning rates, maybe around 2.25%. While that lower rate can seem very enticing, here’s why ARM loans are not the best option in today’s economic climate. How ARMs Work Adjustable-rate mortgages have ultra-low intere...

January 20th, 2021 | Interest Rates, Why ARM Loans Don’t Make Much Sense Right Now

Blog Image: 4 Predictions for the 2021 Mortgage Market

4 Predictions for the 2021 Mortgage Market

The 2020 housing market surprised everyone by quickly bouncing back after slumping during the first few months of the coronavirus pandemic. What might the coming year hold as the country continues to fight its way through this crisis? The experts at the National Association of Real Estate Editors conference last week made these four predictions for the mortgage world in 2021. Mortgage Rates Will Rise from Record Lows As the COVID crisis eases and the economy improves, long-term mortgage interest rates (which hit multiple historic lows this year) will begin to rise. Averaging 3.0% in 20...

January 13th, 2021 4 Predictions for the 2021 Mortgage Market

What’s New In The World Of Mortgages In 2021!

2021 comes in “roaring like a lion” in the world of mortgages with interest rates the lowest in US history! Here's a few other key points as we start off 2021! The Federal Reserve promises to keep “short term interest rates” low for an indefinite period of time and for now that’s helping to keep “long term interest rates” (like home mortgages) at historic lows. Lenders are still making loans, lots of them! All lenders are busy, but we are working with our clients to set expectations and more importantly close their loans! Many borrowers...

January 10th, 2021 What’s New In The World Of Mortgages In 2021!

Blog Image: Mortgage Lingo 101

Mortgage Lingo 101

As a first-time home buyer, you will hear lots of words that you may not be familiar with. Just like every industry, the real estate market has its own lingo, and it can be confusing for newbies. Here is a list of the most common mortgage jargon to help you navigate the home loan process: Adjustable Rate Mortgage (ARM) – loans that provide an extra-low interest rate for an initial period of 5,7, or 10 years, after which the rate is allowed to move up or down once a year based on market indexes. Amortization – spreading the principal and interest into equal payments over the c...

January 6th, 2021 Mortgage Lingo 101

Blog Image: Should I Pay Mortgage Taxes and Insurance on My Own?

Should I Pay Mortgage Taxes and Insurance on My Own?

When you buy a home or refinance, your lender will talk about setting up an “escrow” account. They may also refer to the charges in that account at “impounds.” If you are new to mortgage loans, you may not understand what these terms mean. And even if you’ve been around the mortgage block a few times, you may wonder if you’d be better off handling the impounds yourself. What are Escrow Accounts and Impounds?  Escrow is a third party-managed account that collects money for your property taxes and homeowner insurance, paying them off when the bills ...

December 30th, 2020 | Mortgage Advice, Should I Pay Mortgage Taxes and Insurance on My Own?

Blog Image: Merry Christmas and Happy New Year

Merry Christmas and Happy New Year

All of us at BWA Mortgage would like to wish you a Merry Christmas and a Happy New Year! We hope that 2021 is a year full of happiness, health and prosperity for you and your loved ones. All the Best, BWA Mortgage

December 23rd, 2020 | Refinancing a Home, Credit, Home Equity, Merry Christmas and Happy New Year

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