Mortgage rates have risen significantly amid concerns that the Fed would cut back on its $85 billion a month bond-buying program. Rates on a 30-year fixed mortgage are currently averaging about 4.5%, up from 3.35% in early May. That rate increase has meant an extra $132 a month in payments for a homebuyer with a $200,000 … More Which way are mortgage rates heading next year?
The government shutdown could make it difficult, or even impossible, for banks to close on your mortgage. One problem lenders might face involves the Internal Revenue Service. Before closing on a mortgage backed by Fannie Mae or Freddie Mac, banks must verify a borrower’s income with the IRS. But IRS operations are curtailed because of … More Will The Government Shutdown Affect My Closing?