Get the Better newsletter. SUBSCRIBE A good credit score can land you your dream home without a nightmare mortgage. Generally, a higher credit score will earn you a lower interest rate with most lenders. Mortgage providers tend to consider a credit score above 700 ideal. But getting your score anywhere in the 620-850 range can save you tens of thousands of dollars in interest over the life of a 30-year fixed mortgage, according to bankrate.com. Careful Cents founder Carrie S. Nicholson achieved a 720 score that allowed her and her husband Ryan, 31, to buy their first home with an affordable mortgage rate. Nicholson, 34, boosted her credit score 100 points in less than a year. Here’s how she did it. Request a credit line increase When Nicholson began to consider purchasing a home in January, she was disappointed to see her credit score was in the low 600s. The score was good, she recalled, but not ideal. “I had some credit card debt on there, a personal loan and a car … [Read more...] about Want to boost your credit score for a better mortgage rate? Here’s how one woman did it.
Haddon savings bank mortgage rates
LONDON (Reuters) - Lloyds Banking Group said on Friday it would increase rates on a number of its variable rate mortgage products by 0.25 percent in September, following the Bank of England's decision to raise interest rates on Thursday. The bank's Lloyds and Halifax homeowner variable mortgage rates, and its Halifax standard variable mortgage rate, will rise to 4.24 percent, according to a bank spokeswoman. Its Lloyds standard variable mortgage rate will rise to 2.75 percent. "We will be contacting all customers who will see a change to their monthly mortgage payment to let them know what this means for them," the spokeswoman said, noting around half of the bank's customers have fixed rates and will therefore see no change. "The group's savings rates are currently under review, and any change will coincide with those being made to revisionary mortgage rates," she added. Barclays raised its mortgage rates on Thursday, shortly after the Bank of England's decision. An HSBC spokesman … [Read more...] about Lloyds bank raises variable mortgage rates
BMT to add 148 jobs in Campbell County A manufacturer of cargo, utility and short-bed trailers plans to expand its East Tennessee facilities with a $3.7 million expansion in Jellico, Tenn., that is expected to add 148 new jobs in Campbell County. BMT said it will enlarge its existing 31-employee staff at its 2-year-old plant in Jacksboro by adding an operation in nearby Jellico and expanding in Jacksboro. "Our goal at BMT is not only to be a profitable business but to train the previously incarcerated men in Campbell County with skills that will help them maintain long term employment and to help reduce the recidivism rate here in Campbell County," BMT Manufacturing CEO Tony Simpson said. "BMT works closely with A New Beginning (ANB) to offer a jail-to-job training program where a skilled workforce is lacking." The company will be locating new operations in an existing building in Jellico and will create 100 jobs at the new location. The Jellico location is set to be operational by … [Read more...] about Business Briefs: Mortgage rates fall in 5 of past 6 weeks
By David Paddon The Canadian Press Mon., May 28, 2018 Canada’s big banks are locked in a competitive pricing war over variable-rate mortgages, but economic trends point to more interest rate hikes ahead — leaving Canadian mortgage borrowers struggling to interpret the mixed messages. The Bank of Canada has raised its trend-setting interest rate once this year and is expected to do so at least once more before the end of 2018. When interest rates rise, banks are inundated with demand for fixed rates, so borrowers can lock in their rates. As a result, Canada’s lenders are working to attract borrowers to variable-mortgage rates, which are tied to the fluctuations of the central bank’s overnight rate. They are offering special rates as low as 2.45 per cent for May, some of the biggest-ever widely advertised discounts advertised by the big banks. At the same time, they have increased the rates of their fixed-rate mortgages. Even in this rising … [Read more...] about Mortgage rates are rising. Here’s how you can save money
By Jeff Lazerson | [email protected] | MortgageGrader.com PUBLISHED: May 25, 2018 at 8:20 am | UPDATED: May 25, 2018 at 8:25 am What’s up with mortgage rates? Jeff Lazerson of Mortgage Grader in Laguna Niguel gives us his take. Rate news summary From Freddie Mac’s weekly survey: The 30-year fixed rate reached the highest sustained rate increase to start the year in the past 40 years. The 30-year fixed rate averaged 4.66 percent, 5 basis points higher than last week’s 4.61 percent. The 15-year fixed averaged 4.15 percent, worse by seven basis points compared to last week’s 4.08 percent. The Mortgage Bankers Association reported loan application volume decreasing 2.6 percent from the previous week. Bottom line: Assuming a borrower gets the average 30-year fixed rate on a conforming $453,100 loan, last year’s rate of 3.95 percent and payment of $2,150 was a whopping $189 lower than this week’s payment of $2,339. What I see: Locally, … [Read more...] about 30-year fixed mortgage rate reaches highest sustained increase in 40 years