Mortgage

Mortgage insurance?  What is it and why do you need it?  For a lack of better words, mortgage insurance or PMI (private mortgage insurance) is really foreclosure insurance.  It protects the mortgage lender against the borrower defaulting on the mortgage loan and will pay a certain percentage (coverage amount) towards the remaining balance in the [...]

Yesterday was a not so good day for mortgage rates.  It was the single worst day in almost two years according to Mortgage News Daily.  The spike was caused by yesterday's economic data that investors seen as a good sign of increasing economic growth.  Do not be surprised to see mortgage rates in the high [...]