Todays Rates: Purchase - 30 Year Fixed: 3.250%   APR: 3.311%     15 Year Fixed: 2.500%   APR: 2.599%      30 Year Fixed High Balance: 3.375%   APR: 3.415%      15 Year Fixed High Balance: 2.625%   APR: 2.697%          Refinance - 30 Year Fixed : 3.375%   APR: 3.446%     15 Year Fixed: 2.625%   APR: 2.761%      30 Year Fixed High Balance: 3.625%   APR: 3.667%      15 Year Fixed High Balance: 2.875%   APR: 2.947%

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The Casil Report: Low Mortgage Rates Hold Steady

Mortgage Rates continue to hit record lows, with 30 Year Fixed Rate Mortgages trending under 3% now. As I eluded to last month, the persistent drop in mortgage rates is largely being driven by the Federal Reserve’s purchasing of mortgage backed securities in response to the Covid-19 pandemic. The intent remains the same — stabilize … Continue reading “The Casil Report: Low Mortgage Rates Hold Steady”

Conventional Mortgages: What You Need to Know

Prospective borrowers with good credit and a debt-to-income ratio not exceeding 43% of gross income are often looking for a conventional mortgage. The term has been heard by most; these are typically the types of loans that people think about when conceptualizing a future purchase. We intend to break down the pertinent details of these … Continue reading “Conventional Mortgages: What You Need to Know”

The Casil Report: Market Analysis

According to the most recent Freddie Mac Primary Mortgage Market Survey, rates have hit new lows. The 30 Year Fixed Rate Mortgage is now averaging 3.15% with 0.80 points. The 15 Year Fixed Rate Mortgage is averaging 2.62%with 0.70 points. The primary reason for the drop in rates is due to the Federal Reserve providing … Continue reading “The Casil Report: Market Analysis”

Deciding Between a 15-Year and 30-Year Fixed Mortgage

Fixed-rate mortgages are the most common loan types consumers look into. Besides term length, the primary differences between 15 and 30-year fixed mortgages are in the interest rates and monthly payments. A 15-year mortgage will typically have a lower interest rate but higher monthly payment, while a 30-year will have a higher interest rate but … Continue reading “Deciding Between a 15-Year and 30-Year Fixed Mortgage”

Closing on your First Home: What to Expect

The time between the acceptance of your purchase offer and closing can be overwhelming for those who have not been through it before. Lyons’ wants to make sure you know what the closing process entails, how much time it can take, and steps you can take to avoid unnecessary delays. What Needs to be Done … Continue reading “Closing on your First Home: What to Expect”

Mortgage Terms to Know Before Buying

You are thinking about buying a home and have begun doing due diligence on how to acquire a mortgage. However, you feel a bit lost when skimming through the typical industry buzz words. It is of the utmost importance that you feel knowledgeable enough to be able to make this crucial financial decision. Below are … Continue reading “Mortgage Terms to Know Before Buying”

Five reasons to consider homeownership

  Determining whether to buy or rent your next home is one of the biggest financial decisions you can make. Lyons Mortgage believes homeownership is a better investment, both in quality of life and from a financial perspective. We’ve outlined five advantages to owning your home versus renting. Freedom to do anything with the property … Continue reading “Five reasons to consider homeownership”

Should I Refinance My Home?

Refinancing an existing mortgage is when the original loan is replaced with a new one. You might be wondering what the advantages of refinancing are, or when the right time is for you to refinance your home mortgage. A refinanced mortgage will always provide a tangible net benefit to the applicant. People do it to … Continue reading “Should I Refinance My Home?”

Why should I get a Pre-Approval?

Getting a Pre-Approval Letter for a mortgage can make you the top candidate for your dream property. A pre-approval is when a bank or lender has thoroughly checked your credit history and determined that they are willing to give you a mortgage. Here’s what you should prepare when starting your Pre-Approval: Income information: Paystubs, tax … Continue reading “Why should I get a Pre-Approval?”

Your First Home Inspection: What you need to know

The time has come for you to get a home inspection on your prospective purchase. This is a crucial part of the home buying process and must be treated with the utmost care. It is critically important to find a good house inspector. You should know what a house inspector does and doesn’t do during … Continue reading “Your First Home Inspection: What you need to know”

Condo vs. Co-op

Two common housing options in New York City and many other metropolitan areas are condominiums and cooperatives, commonly referred to as co-ops. While similar, there are key differences between a condo and a co-op. From distinctions in ownership to varying fees, knowing the basic structure of the two entities will help in making the best … Continue reading “Condo vs. Co-op”

5 Reasons To Hire A Real Estate Agent

People are relying less on professional services and have developed a do-it-yourself attitude. When it comes to some tasks, the DIY strategy can be tiresome and inefficient. Certain topics require years of experience to make smart decisions. This is especially true when it comes to real estate. Home values, markets, and legal terms are just … Continue reading “5 Reasons To Hire A Real Estate Agent”

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