Here’s When You Should (and Shouldn’t) Buy Mortgage Points
Even when the market isn’t hurting prospective buyers, closing on a home is always tricky. When you’re securing a home loan, there are a lot of decisions to make—and for…
These Are the Hidden Costs of Buying a House
The housing market looks like hell for the foreseeable future. Your home is probably the most expensive thing you’ll ever own, and that expense goes beyond the closing price. For…
The Difference Between a Mortgage’s APR and Interest Rate
When shopping for a mortgage, you’ll likely encounter two key terms: Annual percentage rate (APR) and interest rate. While these terms often get thrown around interchangeably, understanding the difference between…
What a 7% Mortgage Rate Really Means for Your Monthly Payment
Photo: karamysh (Shutterstock) This week the long-term U.S. mortgage rate jumped to 7.08%, according to the Federal Home Loan Mortgage Corporation (aka Freddie Mac). This is a 0.14 percentage point…
When Buying Points and Miles Is a Good Idea (and When It’s Not)
Photo: Olena Yakobchuk (Shutterstock) Buying points without a specific use in mind is typically a bad idea. Unless you’re a very experienced travel hacker who is okay taking on a…