Many homebuyers already stretched thin by high home prices have been waiting eagerly for mortgage rates to fall.And it appears that relief might be on the way. In the past six weeks, mortgage rates have dropped at least a full percentage point.
Some relief might be on the way for homebuyers: In the past six weeks, mortgage rates have dropped a full percentage point from the record highs seen in the fall of last year.
Mainly due to increasing insurance costs, and in some cases rising property taxes, homeowners are receiving notices that their monthly payments will be significantly higher this year due to a shortage in escrow.
Shocked by how high your monthly mortgage payment went up? Here s why it jumped [South Florida Sun-Sentinel] – InsuranceNewsNet insurancenewsnet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from insurancenewsnet.com Daily Mail and Mail on Sunday newspapers.