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
Every day, we get borrowers who are shopping their mortgage around and who say, “I don’t want my credit report pulled again.” They are worried that too many credit report pulls will drop their credit score. However the rules for credit reporting agencies state that if the same kind of entity (such as several mortgage
Since mortgage rates are still at or near historically low rates, New Mexico’s homeowners always look for the lowest rate they can find on a new mortgage or a refinance. We caution to be careful that you don’t make the low rate your idol. Exactly, what does that mean? It means that you can make
As veterans already know, VA mortgage interest rates are the lowest in history. Veterans know this because they are bombarded by internet ads, direct mail, and their own current mortgage company calling them daily about refinancing. Here are some simple guidelines. A veteran is eligible for a “streamline” interest rate reduction refinance loan (IRRRL), if
As consumers know, mortgage interest rates continue to be at the lowest levels in history. This has given many New Mexico home owners and potential home owners the incentive to take advantage of these low rates. Because there are so many loan applications in the pipeline, all lenders are experiencing a major back log. Borrowers
At Indigo Mortgage, we get calls every day from New Mexico homebuyers or homeowners, asking “What’s your best interest rate?” We tell them it’s impossible to accurately answer that until we know some information from you first. When you’re ready to make an inquiry about a refi on your home loan, have your most recent
With 2020 right around the corner, big changes are coming to the world of home loans. These changes are specifically concerning VA loans. Here are a few things to come to New Mexico home buyers in the new year. Starting January 1st, the VA will classify all loan amounts the same. In other words, there
At Indigo Mortgage, we believe knowledge is power. The more you know about the mortgage process and the state of the market, the more likely you are to find a great deal that works for your lifestyle. A recent study conducted by the Consumer Financial Protection Bureau delved into the shopping habits of homebuyers revealed