The Mortgage Statement

It's the first week of February and rates have risen since last week. Our 30-year fixed rate rose slightly from 3.25 percent to 3.5 percent, our 20-year fixed rate went up from 3.125 percent to 3.375 percent and our 15-year fixed rate jumped from 2.5 percent to 3 percent. Though rates are now on the uptick, the movement is slow, so you should still have time to take advantage of low rates before they rise too far from their record lows.

If you are still on the fence about refinancing, "there's no point to dilly-dally" said Frank Nothaft, Freddie Mac's chief economist in a USA Today article discussing the rise in rates and whether or not lower rates are in our future. Read the article to learn more about why rates are rising and why you should be refinancing now rather than later.   

Bank of Little Rock Mortgage is also rolling out a new blog to provide our experience and expertise on mortgage finance, written in plain English for you to follow easily. We call it The Mortgage Statement.  

Are you interested in seeing if you prequalify for a home loan? We have a quick-and-easy way for you to get prequalified for a mortgage online.

If you have any questions, comments or concerns, we would love to hear from you. Just contact us and let us know what you need. 

Happy Tuesday,

Scott McElmurry

President & CEO of Bank of Little Rock Mortgage

NOTE: Your mortgage rate can be affected by a number of factors, including your credit score, loan-to-value ratio, your down payment and the loan program you choose. No matter what, we'll always find you the best mortgage loan at the best rate, guaranteed. For more information, visit our Today's Rates page.  

Mortgage rates remain the same from last week with a 2.5 percent for a 15-year fixed rate and 3.125 percent for both 30-year and 20-year fixed rates. And these rates are expected to stay low at least for the rest of the month. 

When it comes to applying for a home loan or refinancing, it's important to have all of your facts straight. There are several myths you may come across before and after you apply that may stop you from accessing all of your home loan options. Here's a great article from Inman News, an online news source dedicated to real estate and mortgage information, that debunks several misconceptions about the mortgage process.  

Bank of Little Rock Mortgage is also rolling out a new blog to provide our experience and expertise on mortgage finance, written in plain English for you to follow easily. We call itThe Mortgage Statement.  

Are you interested in seeing if you prequalify for a home loan? We have a quick-and-easy way for you to get prequalified for a mortgage online.

If you have any questions, comments or concerns, we would love to hear from you. Just contact Arkansas mortgage lenders and view or Arkansas mortgage calculator.

Happy Monday,

Scott McElmurry

President & CEO of Bank of Little Rock Mortgage

NOTE: Your mortgage rate can be affected by a number of factors, including your credit score, loan-to-value ratio, your down payment and the loan program you choose. No matter what, we'll always find you the best mortgage loan at the best rate, guaranteed. For more information, visit our Today's Rates page.  

Looking at the start of the first week of 2013, rates have creeped up some over the holiday break. But don't worry, it's not too much of a change. Our 15-year fixed rate remains the same at 2.5 percent and our 20-year fixed rate is still at 3.125 percent, but our 30-year rate has risen from 3 percent to 3.125 percent with a raised APR of 3.2772 percent.

Wondering how the fiscall cliff decision will impact the housing market? This article from Yahoo! Finance offers insight into how the government's action or inaction to "not go over" the financial cliff will affect the housing market and possibly mortgage interest deductions. WIth the housing market finally showing some improvement, some fiscal cliff could hurt its progress. 

Bank of Little Rock Mortgage is also rolling out a new blog to provide our experience and expertise on mortgage finance, written in plain English for you to follow easily. We call it The Mortgage Statement.  

Are you interested in seeing if you prequalify for a home loan? We have a quick-and-easy way for you to get prequalified for a mortgage online and don't forget to also check out our Arkansas mortgage calculator.

If you have any questions, comments or concerns, we would love to hear from you. Just contact our Arkansas Mortgage Lenders and let us know what you need. 

Happy Monday,

Scott McElmurry

President & CEO of Bank of Little Rock Mortgage

NOTE: Your mortgage rate can be affected by a number of factors, including your credit score, loan-to-value ratio, your down payment and the loan program you choose. No matter what, we'll always find you the best mortgage loan at the best rate, guaranteed. For more information, visit our Today's Rates page.  

Rates are still at the same low level as they were last week, so they are standing firm at their historic-low records. 

If you are considering a refinance, it is important to first calculate how much money a refinance would cost you and how much the refi could save you. Here is a great article from GoBankingRates.com that guide you through the calculating process. And feel free to use our easy Arkansas Mortgage Calculators to help with the math. 

Bank of Little Rock Mortgage is also rolling out a new blog to provide our experience and expertise on mortgage finance, written in plain English for you to follow easily. We call it The Mortgage Statement.  

Are you interested in seeing if you prequalify for a home loan? We have a quick-and-easy way for you to get prequalified for a mortgage online.

If you have any questions, comments or concerns, we would love to hear from you. Just contact our Arkansas Mortgage Lenders and let us know what you need. 

Happy Monday,

Scott McElmurry

President & CEO of Bank of Little Rock Mortgage

NOTE: Your mortgage rate can be affected by a number of factors, including your credit score, loan-to-value ratio, your down payment and the loan program you choose. No matter what, we'll always find you the best mortgage loan at the best rate, guaranteed. For more information, visit our Today's Rates page.  

It's the first week of December and our low mortgage rates are still looking strong. While the national average for rates rose slightly in the last week, our rates remain unchanged. Let's hope they stay that way for a good bit longer. 

If you are getting ready to refinance, make sure to read this article from Yahoo! Homes. It covers the five basic blunders anyone is liable to make when going through the refi process. We always encourage our applicants to research as much as they can before making decisions with their money. After all, knowledge is power when it comes to your finances. To help you research, we have a whole Free Resources library to help get you started. And of course, feel free to contact any of our Arkansas mortgage lenders if you have any questions.  

Bank of Little Rock Mortgage is also rolling out a new blog to provide our experience and expertise on mortgage finance, written in plain English for you to follow easily. We call itThe Mortgage Statement.  

Are you interested in seeing if you prequalify for a home loan? We have a quick-and-easy online prequalification process you can access below. 

If you have any questions, comments or concerns, we would love to hear from you. Just contact us and let us know what you need. For more information on Arkansas mortgage rates and Arkansas mortgage lenders, check out our website. 

Happy Monday,

Scott McElmurry

President & CEO of Bank of Little Rock Mortgage

NOTE: Your mortgage rate can be affected by a number of factors, including your credit score, loan-to-value ratio, your down payment and the loan program you choose. No matter what, we'll always find you the best mortgage loan at the best rate, guaranteed. For more information, visit our Today's Rates page.