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This is awesome! I wish there was sth similar for Europe! In Germany you have to go to a morgage broker and trust that his self-interest is aligned with yours :D
Right there on https://hypofriend.de/en/mortgage-rates-germany first link on Google.
Good idea. A few years back I built https://originationdata.com that compares mortgage lenders (both FDIC & FCUA members) using HMDA data. I modeled rates by lender, product type as well as by facets like MSA (as well as STL FRED data, too). It grew for a few years and I was ecstatic-- getting backlinks organically from some impressive sites (e.g. larger banks themselves, consumer publications) as well as positive us…
> Then Google pushed their "Helpful Content Update" and...
May I just say, no matter what you work on, a separate piece of work will be getting people to know about it.
So fine, people can no longer find you on google. But if your website is truly useful, people will keep talking about it and linking to it, no?
Anyway, what are you working on now?
The rates are better, they're entirely local, and they're usually not trying to actively screw you.
Earlier quoted context omitted.
What’s the alternative that’s better? Having a 5/1 or 1/1 ARM just means that your current house’s mortgage would also be more expensive because your 3% mortgage would have adjusted upward by now. If you’re willing to have your current mortgage be more expensive to avoid the “downside of being locked into a low payment, you could just pretend your mortgage had adjusted and go buy a house that suits your needs better.
Home prices are probably higher now than they would be due to the limited supply due to people being locked into house.
I can see how someone who decides to keep their current house to use as a rental and buy a new owner-occupied property would tend to increase house purchase prices slightly (but also increase rental availability and lower rent prices slightly), but also think that’s a tiny minority of current homeowners.
Good idea. A few years back I built https://originationdata.com that compares mortgage lenders (both FDIC & FCUA members) using HMDA data. I modeled rates by lender, product type as well as by facets like MSA (as well as STL FRED data, too). It grew for a few years and I was ecstatic-- getting backlinks organically from some impressive sites (e.g. larger banks themselves, consumer publications) as well as positive us…
Tit-for-tat, if you reduce it all down, the Chase's and Wells' should be able to offer the better terms based on their agreements with GSEs/secondary markets.
In reality, no one is getting the product at face value, so opportunities like this will exist, and you can take advantage of it like in these cases.
I find it somewhat interesting that a US 30 year fixed mortgage is 5,49%, while a 10 year fixed mortgage in Sweden currently is at 3,6%[1]. Big difference! [1] https://www.compricer.se/borantor/
Having worked in mortgage, two important points: 1. Credit unions and large banks do not have access to the same vault of loan products at the same rates as each other. Fannie and Freddie offer rate discounts at volume. 2. Credit unions typically do not run mortgage programs for profit, unlike big banks. This also contributes to their ability to eat your cost. Tit-for-tat, if you reduce it all down, the Chase's and W…