MOLINGO: Mortgage Lingo with Michele Hammond, Carbon Team at CrossCountry Mortgage
It came as no surprise that the Federal Reserve approved a .25 percentage rate increase at their mid-March meeting. The rate increase (the first since Dec 2018) is just the beginning of a consistent hike, with many more rate increases planned for 2022.
We have all accepted that the mortgage rates are going up, but what does that actually mean in terms of buying a new home? It’s important to remember we are still seeing historically low rates! The great news is that buyers have many more lending options in today’s market – a traditional 30 yr fixed is not always the best product for everyone and lower rate/lower payment options are available. Understanding your financing options = understanding your purchasing power. We can help you explore all possibilities.
Vice President of Lending
CrossCountry Mortgage, LLC
Personal NMLS85839 Branch NMLS1601092
Equal Housing Opportunity. All loans subject to underwriting approval. Certain restrictions apply. Call for details. All borrowers must meet minimum credit score, loan-to-value, debt-to-income, and other requirements to qualify for any mortgage program. CrossCountry Mortgage, LLC NMLS3029 (www.nmlsconsumeraccess.org).