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Jeremy Engle

NMLS ID 293517

559-734-5000 jeremy@jeremyengle.com

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Blog Image: Why Do Mortgage Rates Go Up and Down?

Why Do Mortgage Rates Go Up and Down?

Mortgage interest rates fluctuate from week to week and they can make huge swings from decade to decade. In the early 1980s, for example, mortgage rates were as high as 18% while roughly 30 years later they are less than a third of that rate. What causes they changes in mortgage rates? What factors affect the direction of rates? The Fed The Federal Reserve is tasked with keeping balance between inflation and the national unemployment rate. One of the ways it influences this balance is with it federal funds rate – the interest rate that banks charge each other for overnight loans. T...

January 30th, 2019 | Interest Rates, Why Do Mortgage Rates Go Up and Down?

Blog Image: 3 Things You Need to Know About ARM Loans

3 Things You Need to Know About ARM Loans

Adjustable rate mortgage (ARM) loans always grow in popularity when interest rates are on the rise. Some borrowers think ARMs are the best way to save money on their mortgage in a higher rate climate. ARM loans can also be helpful for those who do not plan to stay in their home more than a few years. Whatever the reason, if you are considering an adjustable rate mortgage here are three things you need to know before signing. 1. What type of ARM are you getting? Of course, you already know that an adjustable rate mortgage means that eventually your loan interest rate can adjust higher or ...

January 23rd, 2019 | Adjustable Rate Mortgages, Interest Rates, 3 Things You Need to Know About ARM Loans

Blog Image: Interest Rate vs. APR

Interest Rate vs. APR

Interest rate and annual percentage rate (APR)-those are the same thing, right? Unfortunately, too many mortgage buyers don’t realize the answer is no. The interest rate on your mortgage loan is different from the APR and understanding both is important to getting the best deal on your mortgage. Interest Rate The interest rate on a loan is the cost for borrowing the mortgage principal. It is a percentage of the amount and can be either fixed or variable. The interest rate is amortized over the life of the loan and the interest payment is rolled into the monthly mortgage payment. ...

January 9th, 2019 | Interest Rates, Interest Rate vs. APR

Blog Image: How to Get a Low Interest Rate on a HELOC

How to Get a Low Interest Rate on a HELOC

The amount of available home equity has recently hit all-time highs, meaning now is a great time to tap into your home’s value with a home equity line of credit (HELOC). These are revolving accounts that allow you to draw out money for anything from home improvement to college tuition to debt consolidation. Of course, just like with your primary mortgage, finding the best rate on a HELOC is essential. Here are some tips for scoring a great interest rate: Check Your Equity The more equity you have in your home, the better your odds are of being approved and offered a good rate. Yo...

October 17th, 2018 | Interest Rates, Home Equity, How to Get a Low Interest Rate on a HELOC

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