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It's a question almost everyone is asking: "Should I refinance my mortgage?" If so, what's the best way to pay for my mortgage refinance

It's a question almost everyone is asking: "Should I refinance my mortgage?" If so, what's the best way to pay for my mortgage refinance

HSH in the news - 2020

June 8, 2020: "Cleveland Is a House-Flipping Hot Spot, and Covid Adds Fuel", a Wall Street Journal look at real estate investing conditions by Ryan Dezember included some data from HSH.com's Salary Analysis and Home Price Recovery Index:

The median in metro Cleveland is $160,700, according to mortgage data and analytics firm HSH.com. That is well below the national median price of $274,600. Even better, there are plenty of run-down old houses to be had for less than $100,000.
They rented them profitably and started a business, Real Wealth Network, teaching others to invest like that. But the math doesn't really work anymore in Dallas, where HSH.com says home prices have risen 78% from their precrash highs.

June 6, 2020: "Back to the Basics of Home Ownership", a Real Estate Today Radio discussion between HSH.com VP Keith Gumbinger and host Stephen Gasque about today's rock-bottom mortgage rates, choosing loan terms and building and using home equity.

June 4, 2020: " Mortgage Rates Are Crazy Low Right Now. Here’s How to Take Advantage.", a Fatherly.com look at how to get the best mortgage by Daniel Kurt included context and advice from HSH.com Vice President Keith Gumbinger:

Different lenders can quote vastly different rates and fees for the same customer, making it imperative to shop around. Online mortgage rate comparison tables can be a good starting point, says Keith Gumbinger, vice president of the mortgage information website HSH.com.
Also consider engaging mortgage brokers, who get offers from multiple lenders. According to Gumbinger, these loan intermediaries can be particularly helpful for people who are self-employed, generate seasonal income or don’ have traditional income documentation. "If your credit or financials place you outside the plain vanilla lending box, a broker will likely be your best bet to secure a loan," he says.
According to Gumbinger, the first point you pay on a 30-year fixed mortgage may lower the rate by 0.25 percent, but the next point will be somewhat less. Therefore, expect a diminishing return with each additional point you fork over. "You couldn't, for example, pay 12 points today and get a 0.25-percent interest rate," he says.

June 3, 2020: " A First for the Housing Market: Mortgage Rates Below 3%", a Money.com look at today's mortgage market conditions by Daniel Bortz included some quotes from Keith Gumbinger, HSH.com's vice president:

Borrowers can thank the Federal Reserve for today’s unprecedented mortgage rates, says Keith Gumbinger, vice president at mortgage site HSH.com. With the economy in a tailspin during COVID-19, "the Fed rightfully worried about the effects of the economic shutdown, so it took unprecedented steps to lower mortgage rates to emergency levels," Gumbinger says.
Generally, borrowers need a FICO score of 740 or higher to qualify for the lowest mortgage rates on a conventional loan, Gumbinger says. Which is why it’s important to find out what your credit score is" - using a website like MyFico.com, Gumbinger suggests - and to review your credit reports for errors.
Paying extra points can help drag down your mortgage rate. Points are fees paid to a mortgage in exchange for a lower mortgage rate. One point is equivalent to 1% of the loan amount.
"If you want to get below 3% for a 30-year fixed mortgage, you ’d need to pay about 1.5 points right now," Gumbinger says. On a $300,000 mortgage, that would mean forking over $4,500 at closing. "If you pay no points, your rate would be about 3.4%," Gumbinger says.

June 3, 2020: "Mortgage rates could stay low for weeks, months - but there's a catch", a Detroit Free-Press look at mortgage market conditions by Susan Tompor included a bit of context provided by HSH.com VP Keith Gumbinger:

More than 40 million American workers have filed for jobless claims since mid-March as restaurants, factories, stores and other places of business began to close in order to limit social contact and the spread of the virus.
Those high jobless rates - and the expectation that home values ultimately will drop or soften in the future - are driving some lenders to take a more cautious approach, according to Keith Gumbinger, a mortgage expert and vice president at HSH.com, a mortgage information website.
"Certainly, with risks on the rise," Gumbinger said, "it's to be expected that at least some lenders would be trying to limit their exposure to potential future loss."
Even so, not all lenders are reacting the same way. "So," he continued "if a consumer cannot find a lending response they need on one side of town they will need to keep looking."

May 31, 2020: "Most Lenders Have Tightened Mortgage Rules", a Banker & Tradesman look at mortgage underwriting by industry veteran Lew Sichelman featured a quote from HSH.com's vice president Keith Gumbinger:

"While it is technically possible to buy a home without human contact, it’s still not possible to buy a house without income or when on unemployment," said Keith Gumbinger of HSH Assoc., a mortgage reporting company.

May 6, 2020: "Refinancings may hit a 7-year high", a HousingWire.com update on market conditions by Kathleen Howley featured some perspective from HSH.com VP Keith Gumbinger:

Mortgage holders who ardent among the more than 30 million people who have lost jobs during the pandemic will be eager to lock rates that are the lowest ever recorded, said Keith Gumbinger, a vice president at HSH Associates, a mortgage research firm.
While rates have bumped around in recent days, they ’re still near the all-time low set last week that broke the old record set in early March, Gumbinger said.
"We keep touching these record lows, and for folks who are reasonably well aligned with changing underwriting standards, there’s a good opportunity here to free up some cash," Gumbinger said.
Much of that cash will go to the consumer spending that typically accounts for about 70% of GDP, he said. Even with half the nation still under strict lockdowns to stem the spread of coronavirus, there are still plenty of opportunities to spend the extra money, supporting businesses, he said.
"If someone saves a few hundred dollars a month by locking in at a lower rate, that’s money that’s typically spent into the economy, supporting economic growth," Gumbinger said.

April 30, 2020: "U.S. Mortgage Rates Tumble To A Record Low", a Financial Advisor magazine article by Bloomberg.com's Prashant Gopal included a statement from HSH.com vice president Keith Gumbinger:

The coronavirus outbreak has fueled chaos in the mortgage market. Rates had ticked slightly higher in recent weeks, in part because lenders were pricing mortgages defensively. They had more customers than they could handle with rates so low. Now, the slowdown in the economy has curbed demand for new loans while they work through the backlog.
"This is a sign that the mortgage market is functioning better," said Keith Gumbinger, vice president at HSH.com, a mortgage information website. "The backlog of refinancing is working its way through the pipeline. So lenders are feeling more comfortable passing low rates to the consumers."

April 20, 2020: "Mortgage forbearance? Lump-sum bill could come due before crisis ends", a Newsday consumer advisory by Maura McDermott included some market context from Keith Gumbinger, HSH.com's VP:

Ordinarily, forbearance programs are intended for people who are coping with short-term problems, said Keith Gumbinger, vice president at HSH.com, a mortgage information website. With no way to know when the pandemic will end, "the pressure has been on servicers," and a growing number seem to be giving borrowers more time to pay back missed payments, Gumbinger said.

April 8, 2020 "Housing market shifts to the cyber side amid the pandemic", a Washington Post look at mortgage and real estate tech and the coronavirus pandemic by Michele Lerner include a couple of quotes from HSH.com VP Keith Gumbinger:

"Technology allows us to do things that were unthinkable even just a few years ago," says Keith Gumbinger, vice president of HSH.com, a consumer mortgage information site. "Digital mortgage platforms can remotely verify employment and assets and the ability to communicate electronically means we can function. A decade ago, the housing market would have been completely shut down during a situation like this."

April 8, 2020: " Mortgage Income Tax Credit and IRS Form 8396", a Fool.com look at the value of a mortgage credit certificate (MCC) by Marc Rapport referenced some useful content at HSH.com:

Plus, check out this detailed example from HSH.com about how a typical mortgage credit certificate can allow a homebuyer to use Form 8396 with his or her tax return to reduce the income needed to qualify for this $250,000 mortgage by more than $11,000 to $53,571. "The credit helps people qualify for a better house by increasing their take-home pay," the article notes.

April 2, 2020: "How to Get Help With Your Mortgage During the Coronavirus Pandemic", a Consumer Reports reader advisory by Scott Medintz included some background and advice from HSH.com's VP Keith Gumbinger:

Of course, many of us have no idea whether our mortgage was ever connected to one of these entities. But there’s a good chance the law applies to you: The National Housing Law Project says roughly 70 percent of outstanding single-family mortgages in the U.S. are owned or backed by a federal agency. And about 90 percent of mortgages created since the 2008 financial crisis are covered by the law, estimates Keith Gumbinger, vice president of the mortgage-information site HSH.com.
Your mortgage servicer should also know for certain, Gumbinger says, and in any case you'll need to contact your servicer to take advantage of the new protections.
Even if it turns out your mortgage is not covered by the law, it’s probably worth contacting your servicer and discussing your options, Gumbinger says. "In the current environment, regulators and legislators are strongly encouraging lenders of all stripes to work with borrowers."
And third, your decision to seek forbearance can’t be reported to credit agencies as nonpayment. After all, Gumbinger says, not being able to pay your mortgage during the coronavirus pandemic "is not a reflection of your creditworthiness."
Also keep in mind that the mortgage protections are in place for the length of the declared emergency or the end of the year, whichever comes first. We don't know when President Donald Trump will declare the emergency over, so think ahead. "You may have no problem paying your mortgage this month, but what about a few months from now?" Gumbinger says. "Don't wait until you're deep in the hole. It could be too late."

April 2, 2020: "30-Year Mortgage Rates Are Back Near Record Lows - For Some Borrowers", a Money.com review of current market conditions by Ian Salisbury included some commentary by Keith Gumbinger, HSH.com's vice president:

"Markets are erratic," says Keith Gumbinger, vice president at mortgage site HSH.com. "They will continue to be erratic."
The bad news is homeowners who don't meet those standards may pay much more or struggle to find a lender at all. That includes borrowers looking for large-dollar "jumbo" loans, which are above Fannie and Freddie size limits, as well as those who are self-employed or otherwise face hurtles proving they have a steady income, according to Gumbinger.
"If you're not a borrower that fits into the mainstream mortgage pipeline, you are going to have a hard time," says Gumbinger. "And the farther outside the mainstream you are, the harder it’s going to be."

March 31, 2020: "What to Do If You're Having Trouble Paying Bills", a Consumer Reports guide to managing finances in difficult times by Penelope Wang included some advice by HSH.com VP Keith Gumbinger:

Your mortgage servicer also may know - and you'll need to contact them to take advantage of the new protections anyway, says Keith Gumbinger, vice president of HSH.com, a mortgage-information resource.
Be aware that some states have placed a moratorium on mortgage payments, as they have for renters. So check to see whether that relief applies in your area.

March 31, 2010: "Here's a Fast (And Overlooked) Way to Refinance Your Mortgage", a Money.com look at how to take advantage of the low-rate climate by Gabriella Cruz-Martínez featured some advice from Keith Gumbinger, HSH.com's vice president:

While streamline offers many shortcuts to the approval process, you still need to provide certain documents to apply. As per FHA requirements, these may include two months of bank statements to prove you can afford out-of-pocket expenses, a copy of your mortgage loan that shows your current loan rate and term, as well as proof of homeowners insurance.
"There are no real 'cons' to the process, per se, but just because a process may be simpler or easier does not necessarily mean it will come at the best possible price," said Keith Gumbinger, Vice President of HSH Associates. "As such, homeowners should consider what their lender has to offer as a component of their mortgage-shopping process - it might be their first call, but should not be their last or only call."

March 27, 2020: "Dead deals, slashed prices: Coronavirus drags down Southern California home sales", a Los Angeles Times look into cornonavirus-changed housing markets by Andrew Khouri included some context by Keith Gumbinger, HSH.com's VP:

Keith Gumbinger, vice president of the research firm HSH Associates, said non-qualifying mortgages have dried up because investors who typically purchase the loans from originators don't know if they are going to get their money back.
Jumbo mortgages are more readily available. Those are loans that exceed the limit to qualify for guarantee by Fannie Mae or Freddie Mac; in Los Angeles County, that’s $765,600. But they too have grown more difficult to find.
"From an investor standpoint, there is a preservation of cash and an aversion to risk," Gumbinger said. "It’s going to be a little bit difficult for time to find" non-qualifying and jumbo mortgages.

March 27, 2020: "Now Is a Good Time for Retirees to Refinance. Here Are Some Points to Ponder.", a Barron's article on opportunistic refinancing by Sarah Max featured comments by Keith Gumbinger, HSH.com's vice president:

If saving money over time is your primary objective, first do the math to see if that pans out. For one thing, there are upfront costs, which typically range from 2% to 5% of principal. Depending on how much time you have left to pay, that money might be better used prepaying your mortgage by putting additional funds toward principal each month, says Keith Gumbinger, vice president of HSH.com.
Other Caveats
In general, qualifying for a mortgage in retirement is no different than it is in the working years. Lenders want to see stable sources of income, such as pensions, annuities, and Social Security. They'll also factor for retirement savings withdrawals, though they typically assume only 70% of an investment portfolio in their calculations, says Gumbinger.
Retirees thinking about a refi should not assume that rates are going to go lower. Among other factors, "there has been an absolute crush of refinancing business that is overwhelming the mortgage-lending system," Gumbinger says, noting that applications for refinance mortgages shot up 79% in the week ended on March 6. To try to temper incoming demand "some lenders stopped passing along new declines in rates and others began to price defensively so as to deter new business from coming in the door."
While there are many uncertainties, including how the coronavirus outbreak will affect appraisal access and home values, refinancing may be more feasible once the wave of consumer interest subsides.
In the meantime, retirees should organize their documents and start talking to lenders. There’s no need to rush, says Gumbinger: "The low-rate climate is likely to be with us for a fair while."

March 26, 2020: "As Jobless Claims Surge, Here Are 7 Things To Do If You Lose Your Job", a Newsweek action advisory by Daniel Bortz included a quote by HSH.com VP Keith Gumbinger:

"Don't wait until you start missing payments to reach out," advises Keith Gumbinger, vice president at HSH.com, a mortgage information website. "Servicers are likely to become very busy in the weeks and months ahead with requests for help."

March 21, 2020: "How to pay the bills during the coronavirus crisis", a USA Today look at how to navigate challenging financial times by Susan Tompor of the Detroit Free Press featured some advice to troubled homeowners from Keith Gumbinger, HSH.com's vice president:

Keith Gumbinger, a mortgage expert and vice president at HSH.com, a mortgage information website, noted that some lenders including Bank of America are already putting such programs in place.
"If you are or think that you will be experiencing difficulty in making mortgage payments due to the coronavirus, you should be proactive in contacting your mortgage servicer to get any relief process started as soon as possible," Gumbinger said.
"Don't wait until you start missing payments. Lenders are likely to become very busy in the weeks and months ahead with requests for help."

March 15, 2020: "The Spring Market", a Real Estate Today Radio discussion between HSH.com VP Keith Gumbinger and host Stephen Gasque about the changing and challenging spring housing market.

March 10, 2020: "Mortgage Interest Rates Hit Record Lows. Time to Refinance?", a AARP.com look at mortgage refinance markets by John Waggoner include tips from HSH.com VP Keith Gumbinger:

"People refinance for a lot of reasons," says Keith Gumbinger, vice president of HSH.com, a mortgage information website. "Do you want a lower payment? Do you want to pay off your loan by a certain date?"
If you want to repay your loan by a certain date - say, when you retire - bear in mind that you can simply prepay your existing loan. Prepayments are optional, so you have some flexibility in your monthly payments, which you wouldn't have if you locked into a 15-year mortgage.
If you do refinance, you have multiple costs associated with the new loan, from the aforementioned discount points to state property taxes, insurance and appraisals. You can get a good sense of costs by digging out your original loan papers from when you bought the house, Gumbinger says.

March 7, 2020: "Want to refinance? Make sure you understand the new tax laws", a San Francisco Chronicle article looking at the complexities of the mortgage interest deduction by Kathleen Pender included comments by Keith Gumbinger, HSH.com's VP:

What happens if you refinance a grandfathered mortgage? Suppose your original debt was $1 million, and the remaining balance is $850,000.
As long as you refinance no more than the remaining balance, $850,000 in this example, your loan remains grandfathered and you can deduct interest on the full amount.
What if you refinance more than the balance, say $900,000?
In this case you can still deduct interest on up to $850,000, but you cannot deduct interest on the extra $50,000, no matter how it is used, said Keith Gumbinger, a vice president with mortgage website HSH.com

March 6, 2020: "Twin Cities mortgage offices busy as low rates spark rush to refinance", a Minneapolis Star-Tribune review of surging mortgage activity by Jim Buchta featured some quotes from HSH.com VP Keith Gumbinger:

The uncertainties surrounding both COVID-19 and the upcoming presidential election have made the situation particularly complex.
Keith Gumbinger, vice president at HSH.com, said the deeper the markets fall and the lower rates go, the greater the chance of a sharp economic turnaround that could be triggered by a coordinated central bank move or a breakthrough in containment or treatment. Even a slowing in the rate of expansion of the virus might be enough to see a sudden change in direction for stocks and bonds yield, Gumbinger said.
"It’s a shame all this is happening, in more ways than one," he said. "If not for the ‘panic-demic’ in markets, we would likely be talking about firming interest rates as the economic picture has generally been brightening."

March 4 2020: "Your Money: Fed's surprise cut is a cure for mortgage rate envy", a Reuters update on quickly changing mortgage market conditions by Beth Pinsker outlining mortgage market opportunities for some included quotes and advice from Keith Gumbinger, HSH.com's vice president"

If your goal is to get out of debt sooner or save costs over the long-term, think about shortening your loan term to a 15- or 20-year loan instead of the more common 30-year mortgage. You could get rates below 3% now, depending on the circumstances.
This move is not for everyone, however, because shorter loans come with higher monthly payments, even if the rates are lower. If you are not planning to stay in your home past the time your payments end, then you might not enjoy the benefits of speeding it up. In the meantime, you might have been able to use that extra monthly money for other uses, like building an emergency fund or saving for retirement.
"Once you've committed, you can't make a change easily or without cost," warned Keith Gumbinger, vice president of HSH.com, a mortgage information website.
Of course, whether or not you will ever have a chance to get such low rates again is a hard game to play.
But then again, "It’s amazing how often these once-in-a-lifetime things happen," Gumbinger said.

March 4, 2020: "Single Women, Minorities Flock To Digital Mortgage Lenders; Here’s How Minority Homebuyers Can Get A Leg Up", a Forbes article detailing how to approach today's changing mortgage environment by Aly J. Yale contained some context provided by HSH.com vice president Keith Gumbinger:

Separate the emotion.
"To the extent possible, try to separate emotion and logic. People talk about buying a home, but ‘home’ is an emotional concept. You are buying a house, a physical object with features and shortcomings, and need to evaluate it carefully and relative to your capabilities. You need to consider the time and cost commitment needed for maintenance - let alone improvement - and consider things like the cost and time component of a changing commute, for example. Getting in over one's head isn't likely to happen from the mortgage side, but it can get overwhelming from the management/maintenance/change-of-lifestyle side."

March 4, 2020: "Coronavirus scare, lowered interest rates could be chance to refinance your home", a Detroit Free Press look at federal reserve actions and mortgage rates by Susan Tompor included some context from Keith Gumbinger, HSH.com's vice president:

All the added economic uncertainty has been driving investors to seek safety in bonds, sending long term rates tumbling and contributing to a fall in mortgage rates.
"Right now, it's all coronavirus all the time," said Keith Gumbinger, a mortgage expert and vice president at HSH.com, a mortgage information website.
Gumbinger offered this example: Take someone who bought a home in 2014 but did not refinance yet. The original 30-year mortgage was $200,000. And the rate was 4.37%. The monthly payment was nearly $1,000.
Say the borrower refinances the remaining balance of $177,497. And say the refinance rate will be 3.45% on a 20-year mortgage.
The monthly payment would be a tad more at $1,025 a month. But over the life of the mortgage, the consumer would save around $37,000 after closing costs and fees.

March 4, 2020: "How to Get a Mortgage When You're Self-Employed", a Money.com review of difficulties and challenges of getting a mortgage today by Chris Taylor featured some market realities provided by HSH.com VP Keith Gumbinger:

Documentation is your friend
Even if freelancers have up and down months, you want to show lenders your long-term averages. That means furnishing at least a couple of years of documentation, which will let banks see the numbers in black-and-white and help them breathe easier. "In general, a lender will want to see a two-year history of earnings to establish an income pattern," says Keith Gumbinger, vice president at mortgage information site HSH.com. If you can demonstrate more than that, even better.
If you do get turned down for a loan as a freelancer, don't take it personally, and don't give up. LendingTree and other websites allow you to compare rates from multiple lenders, and local mortgage brokers often specialize in handling difficult-to-place loans.
Says Gumbinger: "Just because one place may say ‘No,’ doesn't mean that all doors are closed to you."

March 3, 2020: "Treasury yields have fallen to record lows. Why haven't mortgage rates followed?", a San Francisco Chronicle look at the relationship of mortgages to wild financial markets by Kathleen Pender included a review of items driving mortgage rates by Keith Gumbinger, HSH.com's vice president:

Interest rates are all about supply and demand. Last week, as stocks fell more than 10% in their swiftest correction in history, investors worldwide were piling into the perceived safety of U.S. Treasurys. That pushed their prices up and their yields, which move in the opposite direction, down.
But those same buyers were not necessarily buying mortgage-backed bonds, which help set the direction of mortgage rates, said Keith Gumbinger, a vice president with HSH.com, a mortgage website. Mortgage bonds "are not nearly as liquid" as Treasury bonds, and thus not as easy to buy during a panic and dump later.
Although Treasury and mortgage yields are closely aligned, "it’s not a perfect lockstep relationship," he said.
If the coronavirus sends the economy into a tailspin, they might not see this as the best time to be making 30-year home loans. Right now, mortgage defaults and delinquencies are near all-time lows, "similar to where they were in 2003-04," Gumbinger said. At that time "everyone said these things never default, we can do anything and there is no risk. That is part of what led" to the financial crisis.
It’s also possible that the Treasury mania could be short-lived. In that case, "we may not get to the 2012 lows" in mortgage rates this week, Gumbinger said.
If rates do keep falling, some homeowners may want to refinance their mortgages. However, rates have been so low for so long, it might not be worth it for many people. "We have had rates within a percentage point of where we are now for about seven years," Gumbinger said.

February 26, 2020: "Tips to Avoid Being House-Poor ", a syndicated Smart Moves column by Ellen James Martin looking at mortgage risks included a quote from HSH.com VP Keith Gumbinger:

But in reality, many buyers with solid jobs and decent credit scores can still obtain a home loan so large they're at risk of financial peril, says Keith Gumbinger, a vice president at HSH Associates (hsh.com), which tracks mortgage rates throughout the country.
One reason many buyers can qualify for too large a mortgage has to do with the way lenders evaluate applicants. Though household expenses have risen dramatically in many categories, including for health and education, lenders still rely heavily on applicants’ gross income as the main gauge of their borrowing capacity.
"Lenders don't know how much money you have left over after you've met all your other obligations," Gumbinger says.

February 22, 2020: "Mortgages 2020", a Real Estate Today Radio discussion between HSH.com vice president Keith Gumbinger and host Stephen Gasque regarding mortgage market conditions in 2020.

February 17. 2020: "Here's How to Buy a Home If You Can't Save for a Down Payment", a Money.com look at alternatives for cash-strapped homebuyers by Daniel Bortz included some context provided by Keith Gumbinger, HSH.com's VP:

Federal Housing Administration (FHA) loans were created for low- and moderate-income households that would otherwise be locked out of the housing market, says Keith Gumbinger, vice president at HSH.com, a mortgage information website. They require a minimum down payment of 3.5% and a minimum credit score of 580, but borrowers with a credit score of 500 to 579 can qualify by making a 10% down payment.

February 16, 2020: "7 facts about FHA loans you should know", a Inman News article looking at the features, benefits and drawbacks to FHA-backed mortgages by Steve Cook included some HSH rates and expertise provided by HSH.com VP Keith Gumbinger:

FHA mortgage rates began to be consistently lower than conforming loan rates by 0.125 to 0.25 percent in 2010, partly because of the lack of penalties on FHA loans for having a lower credit score or a higher loan-to-value, says Keith Gumbinger, vice president of the mortgage site HSH.com

February 14, 2020: "How Much House Can I Afford?", a Money.com article addressing homebuyer concerns in today's tight real estate market by Catherine Alford included a mindset suggested by Keith Gumbinger, HSH.com's vice president:

When you do start looking at properties, keep in mind that you will most likely be looking at previously-owned homes and that your choices will be limited to what is available in the real estate market. You'll probably have to compromise on some of the features you would ideally like to have in your new home. "Knowing what you don't want can be just as valuable as knowing what you do want," says Keith Gumbinger, Vice President of HSH.com, an online consumer’s mortgage resource. "Develop a sense of what you're willing to compromise on." By doing so, you avoid being dissatisfied with the result.
Focusing on the preparation required to purchase as opposed to the excitement of it can help you stay on budget. "Try to the extent possible to separate emotion and logic," says Gumbinger. "People talk about buying a home, but 'home' is an emotional concept."

February 1, 2020: "Homeownership in the Roaring 20s", a Real Estate Today Radio interview with HSH.com vice president Keith Gumbinger and host Stephen Gasque on mortgage and housing market conditions as we begin a new decade.

January 16, 2020: "4 key questions to ask now before you decide to refinance your mortgage", a CNBC.com look at refinancing strategies by Ilana Polyak included quotes from Keith Gumbinger, HSH.com's vice president:

Many observers, like Keith Gumbinger, vice president of mortgage data company HSH.com, expect refinancing will stay elevated throughout 2020 but taper off as the year progresses and more borrowers take advantage of the low rate and are no longer interested in refinancing.
For most people, the goal of refinancing is to lower monthly bills. Say you have a 30-year mortgage for $250,000 that you took out a year ago at 4.46%. That would bring your monthly payment to $1,260.78, according to the refinancing calculator at HSH.com. Refinancing would reduce that payment to $1,147.37. Better yet, you’ll save more than $34,000 in interest over the life of the loan.
"Paying cash for your closing costs means never having to worry about higher payments down the line," said Gumbinger of HSH.com.

January 11, 2020: "Buying in the Roaring 20’s", a Real Estate Today Radio discussion about housing market conditions in the start of the new decade included an interview on mortgage strategies with Keith Gumbinger, HSH.com's vice president.

Back to HSH.com in the News — 2019

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