COMPARE CLOSING LLC

  What Is A FED Discount Rate? The interest rate set by Federal Reserve (Fed) on loans extended by the central bank to commercial banks or other depository institutions is termed as the  FED discount rate . By fiddle with the discount rate the central banks like the Fed can decrease liquidity problems and the pressures of reserve requirements; they can manage the supply of money in the economy and in the process assure stability in the financial markets. How Does The Federal Discount Rate Work? The Fed banks provide  monetary policy  and regulatory tools, and they can also provide directly to member banks and depository institutions. The prim a ry purpose of the Fed as a lender of last resort is to ensure the stability of the banks and the financial system. Healthy banks are allowed to borrow all they want at very short maturities from the Fed’s discount window to prevent undue bank failures, and it is hence referred to as a standing lending facility. Usually, on the overnight lending

  About Pay Stub If an employer has employees on the payroll, then on a regular basis they withhold taxes and issue payments. And regardless of which way they choose to pay their employees, there is always an item they typically need to give to employees which is a  pay stub . Let us look at, what is a paystub? What all are included in the pay stub? And, whether it is necessary to provide it to their employees? What Are Pay Stubs? The pay stubs which are at times also known as a check stub are part of a  paycheck . They are   separate document that gives details about the employee’s pay. There is an itemization of the wages earned for the pay period and gives information of year-to-date payroll. The pay stub also shows taxes and other deductions taken from an employee’s earnings. A pay stub shows the amount of net income which is the actual amount received by the employee. What All Are Included In The Pay Stub? The pay stub has many details which help the employer and their employee to

  Where home is a place to put up your legs and relax we have a new report from LendingTree showing how this shortage of affordable housing has become a serious challenge in the Country. According to the latest report, 69 % of Americans who pay monthly rents or mortgage payments said that they have made a sacrifice to pay for housing. And one in five say that they choose to pay rent or mortgage over getting to eat. Close to 1,400 U.S. adults with monthly rent or mortgage payments were surveyed by LendingTree. And the   survey found that 48 % of Americans with a monthly rent or mortgage payment were worried among those were 67% of Gen Zers, and 59 % were Millennials, who were worried about making the payment. 59 % were parents with children under the age of 18 who were a part of the worried renters or mortgage payers. The report also found, that 30 % of surveyed adults said they had taken on a second job to afford their monthly housing costs. The other 29 % said that they borrowed from

  Fannie Mae today said that the home sales across the country will decline over the next two years due to limited supply and rising prices and  mortgage rates . Fannie Mae’s Economic and Strategic Research Group raised its 2021 home sales growth projection from a prior 5.3% to 7.1%, because of a strong rise in home buying. However, they predict the home sales to decline 1.4% in 2022 because of limited listings and other factors and are likely to fall further in 2023. In its statement,  F annie Mae said that the expectation that mortgage rates will continue to go upward in 2022, along with the home price appreciation, will make it difficult to afford a home in the new year. It added that the U.S. Federal Reserve tightening monetary policy to combat inflation will further slow down the sales activity. Reference Source:  Reuters https://www.compareclosing.com/mortgagenews/even-if-the-prices-are-rising-in-new-year-the-home-sales-will-be-dull-for-next-2-years-predicts-fannie-mae/

  Introduction To USDA Guarantee Fees If an individual wants to live outside the city limits or in the suburban area they might want to consider a USDA loan, especially if they can’t get a  conventional loan . USDA loans are mortgages with zero down payment, designed for rural homebuyers. The core basis of a USDA loan is  USDA guarantee fees . To fully understand USDA loans, let’s understand USDA guarantee fees and look at ways to check if one can qualify for a USDA loan. More About What Is USDA Loan Guarantee Fees Mortgage loans that help prospective homeowners buy homes in rural, and in some cases, suburban areas are termed as USDA loans. T h e USDA loans are backed by the U.S. Department of Agriculture ( USDA ) meaning that the loan is insured or guaranteed by the government. This doesn’t mean that a loan is issued by the government, it is still issued by a lender. However, if the borrower fails to repay their loan then the USDA protects the mortgage lender against losses. What is t

  Over the last few months, the fixed mortgage rates have been rising steadily yet all mortgage rates are at all-time lows today. The Federal Reserve had announced that it will taper its purchasing of assets and mortgage-backed securities. The rates which were relatively steady started ticking up and through December, this gradual increase will continue and return to pre-pandemic times said the vice president of the mortgage at Morty, Robert Heck. Mortgage rates  might still be low in December, but they are set to increase in 2022 when the Fed increases the federal funds rate and taper their purchase. T h e average rate of 30 years fixed mortgage today is 2.86% The average rate for 15 years fixed mortgage is 2.13% The average rate of a 7/1 Adjustable-rate mortgage is 2.44% The 5/1 ARM today is 2.46% The average rate of 30 year FHA mortgage is 2.25% The average rate of 30 years VA mortgage today is 2.41% The average rate of 30 years fixed refinance today is 2.78% For a 15 year fixed ref