Why Some Borrowers have Higher Interest Rates than Others
Why did Jones pay more for her mortgage than Smith?
One possible reason is that her mortgage had features that increase risk to the lender, which charged a higher price to compensate.
I call these "risk factors." Potential borrowers ought to know what they are, how much of a rate penalty they will be charged when the risk factor is present, and whether or not there is any way to eliminate or reduce the penalty.
Refinance Rates Rise When Borrowers Receive Cash Back
Borrowers who withdraw cash when they refinance are viewed as riskier than those who don't, because the cash withdrawal indicates possible financial distress -- and that perception can raise a borrower's costs.
Dynamics of Low Mortgage Rates
U.S. Air Force retiree Mike Getlinger and wife, Kim, have hit the homeowner triple lottery: three mortgages in 11 years, all at historic lows of 5 percent or less.
Despite Uptick in Rates, Refinances Still Make Sense for Many
As mortgage rates descended, David and Marilou Jasinski decided to jump on for the ride.
Mechanics of Credit Scores
How much does your credit score matter?
Improving Economy Continues to Hurt Mortgage Rates
Mortgage rates rose this week, with a widely watched survey reporting that lenders were offering 30-year fixed-rate loans at an average of 3.51 percent, up from a near-record low of 3.35 percent two weeks ago.
Understanding What Moves Your Credit Score
Many consumers are confused about credit scores, harboring costly misunderstandings that could result in lower scores and thousands of dollars in extra finance charges, according to a just-released survey from the Consumer Federation of America.
Refinances Worth the Work
Bank representatives sifted through Daniel Holmes' life for about three months. To whom did he owe money, and how much? What were his monthly power bills?
Strong Job Market Pushes Up Mortgage Rates
Mortgage rates moved higher this week, for the first time in six weeks, as a result of a stronger-than-expected April jobs report.
Drop in Negative Equity Enables Some Sales
Jim and Jill Barron heard lots of chatter this winter about a housing price rebound but remained skeptical they could quickly sell their three-bedroom Colonial in Berkley, Mich., for the $282,500 asking price.