As mortgage rates start to decline, many borrowers naturally aim for the lowest rate possible when refinancing. While this instinct makes sense, it’s crucial to look beyond just the rate. Focusing solely on securing the lowest rate without considering the costs involved can lead to costly mistakes. At Indigo Mortgage, we advise borrowers to take
Tag: mortgage rates
Why Are Second Mortgages the Most Popular Mortgages in Today’s Market? As mortgage rates have doubled from historic lows, second mortgages have become the go-to option for homeowners looking to access their equity. Over the past few years, many homeowners locked in exceptionally low rates during the refinancing boom. At the same time, rising property
Mortgage interest rates have recently dropped to their lowest levels in over a year, which should be sparking a surge in home buying activity. However, the housing market remains surprisingly sluggish. This unexpected trend has left many wondering: Why aren’t more people jumping into the market? The Waiting Game: Buyers Anticipate Lower Rates The primary
Recently we have been talking about some of those big internet lenders like that one that should be called Veterans Divided, and another, the Pocket sounding lender. These large national mortgage lenders aren’t the best option for many homebuyers. Here are a couple of examples, what we think shows the proof is in the pudding
Since early in 2023, we’ve seen higher interest rates for mortgages, across New Mexico and the United States. Rates reached over 7.50%, a dramatic growth from the 2.50% rate we saw in 2020. Now as we approach the summer of 2024, in the short term, high interest rates are persisting but most experts believe that
Veterans are starting to get hammered by mortgage lenders all over the country, trying to get the veterans to do a VA streamline refinance. Because mortgage interest rates are starting to come down to the low 5% range for VA streamline refinances, every veteran with a home loan above 6% is getting inundated with offers
Exciting news for New Mexico residents! Indigo Mortgage is thrilled to offer exclusive VA streamlined refinance rates, starting as low as 5.49%-5.75%. Our largest lender has authorized these rates for eligible veterans, providing a 30-year fixed rate with a minimum credit score requirement of 640 and a loan amount of at least $200,000. This special
Most experts predict mortgage interest rates will decrease around April/May 2024. When rates come down, they will be about 1.5% to 2% lower than they currently are (6-7%). Those who took out a mortgage in the past two years may consider refinancing to take advantage of the lower interest rates. This could save them hundreds of dollars
The Federal National Mortgage Association, or “Fannie Mae,” was established in 1938 to expand access to loans for families, including those in the New Mexican market. They “don’t originate mortgage loans or lend money directly to borrowers. Instead, [they] purchase mortgage loans made by lenders, who are then able to use those funds to offer
Credit scores play a significant role in mortgage lending. In today’s rate environment, a better score equals a better rate. It’s currently a slow time for real estate, which makes it the perfect opportunity to focus on raising your credit scores. By improving your scores now, you’ll be better positioned to borrow money for a