With today’s changing conditions in the mortgage market, we strongly believe that mortgage brokers are a borrower’s best choice to get the best interest rate and the best deal for their home purchase or refinance. Mortgage brokers are lenders who are working for the borrower, 100% of the time. We aren’t tied to one company’s
Tag: Interest Rates
The inside scoop from Ben Lucero at Indigo Mortgage: I was listening to a radio ad the other day and the lender was saying that they offer a “no closing cost mortgage”, that the lender would pay all the closing costs for the borrower. This is actually a scam. I say that because I had
Even the team at Indigo Mortgage in Albuquerque gets mortgage offers in the mail—and some of them are borderline unethical. Here’s a recent example: our company owner, Ben Lucero received a letter in the mail from a lender he’d never heard of. They offered a 1.75% interest rate and the direct mail piece said he
Mortgage interest rates may not be at the record low rates that we’ve seen over the last year or so, but they “are what they are”. By that, we mean that, although interest rates are not at their all-time lows, they are still low enough for borrowers to accomplish what they need to. Borrowers are
As consumers know, the feds are determined to raise interest rates beginning in March 2022 and have announced at least three more increases during 2022, in an effort to slow inflation. Mortgage rates are not directly tied to the feds raising interest rates and home loan rates look like they’ll settle somewhere in the low
Even mortgage brokers get refinance offers touting low mortgage interest rates from mortgage companies! Recently, Ben Lucero, the owner of Indigo Mortgage, received a mortgage refinance flyer in the mail, touting a 1.75% interest rate for a cash-out refinance. So he turned the flyer over and read this in the fine print: “a 10 year
Do you know the difference between an Interest rate and an APR and why it’s important to know what an APR represents when you’re buying a home? The difference between APR and interest rate is this: the APR (annual percentage rate) is not an interest rate but rather is a marker that illustrates the total cost of
As 2021 wraps up, you’re probably hearing the news that the Federal Reserve has been meeting, planning to address the rising inflation that’s happening across the United States. A couple of actions that the Federal Reserve can take to try to lessen inflation are raising the federal funds rate and quantitative easing. Today, the federal
Frequently, we hear potential borrowers who say they are shopping their mortgage around and would like a second offer. That’s great, that’s what we’ve advised since Indigo Mortgage opened in 2003. Most commonly, when they tell us they’d like to see our interest rate and fees on their home loan, the other lender is a
It’s early October in New Mexico, and we’re seeing more than hot air balloons rising. We are seeing mortgage rates rise from the historical low rates of the last year. Unfortunately, we are also seeing many online lenders still offering those low rates from several weeks ago. These mortgage lenders are not being truthful in