Get Mortgage Rate Quotes & Sayings

Refinancing your mortgage usually makes sense if you can lower your interest rate by at least two points. But the most important question to ask yourself is, how long will it take you to break even? — Barbara Corcoran

Consider a 15- or 20-year fixed-rate mortgage instead of a 30-year, if you can afford the monthly payments - they may not be as high as you think. — Suze Orman

Back in the 1980s, the original stated purpose of the mortgage-backed bond had been to redistribute the risk associated with home mortgage lending. Home mortgage loans could find their way to the bond market investors willing to pay the most for them. The interest rate paid by the homeowner would thus fall. The goal of the innovation, in short, was to make the financial markets more efficient. Now, somehow, the same innovative spirit was being put to the opposite purpose: to hide the risk by complicating it. The market was paying Goldman Sachs bond traders to make the market less efficient. — Michael Lewis

The two questions that anyone ever asks me are: 'Are house prices going to go down?' and 'Is it a good time to fix my mortgage rate?' — Evan Davis

We're helping the consumer. Because we're taking him out of his high interest rate credit card debt and putting him into lower interest rate mortgage debt. — Michael Lewis

Then again, what Cosimo had said was right: he was nothing but an overworked drone in a cube farm, a minor cog in the dreary machinery of a third-rate mortgage mill, overlooked, unloved, a sidelined player in the big game, — Stephen R. Lawhead

Household was making loans at a faster pace than ever. A big source of its growth had been the second mortgage. The document offered a fifteen-year, fixed-rate loan, but it was bizarrely disguised as a thirty-year loan. It took the stream of payments the homeowner would make to Household over fifteen years, spread it hypothetically over thirty years, and asked: If you were making the same dollar payments over thirty years that you are in fact making over fifteen, what would your "effective rate" of interest be? It was a weird, dishonest sales pitch. The borrower was told he had an "effective interest rate of 7 percent" when he was in fact paying something like 12.5 percent. "It was blatant fraud," said Eisman. "They were tricking their customers. — Michael Lewis

Mint's business model became, 'We'll go for free, and then we'll find these savings opportunities for you.' You know, better interest rate on your credit cards, when should you consolidate your student loans, when does it mathematically make sense to refinance your mortgage, and Mint figures all that stuff out for you. — Aaron Patzer

Ignore the annual percentage rate when shopping for a mortgage. — Suze Orman

What if one were up there, drifting about among suns and feeling the tails of comets fan one's forehead! How small the earth was and how puny the people; a Norway of two million provincial souls and a mortgage bank to help feed them! What was life worth at such a rate? You elbowed yourself ahead in the sweat of your face for a few mortal years, only to perish all the same, all the same! — Knut Hamsun

Well, we're just now seeing the reductions in mortgage rates. The mortgage rates are based on the ten-year rate and the Fed controls the overnight or the shorter rates. — Franklin Raines

Preserving the 30-year prepayable fixed-rate mortgage - it's like the bedrock of the housing system - is critical. — Bill Ackman

American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage. — Alan Greenspan

He economy favors throughput over quality and craftsmanship, and economists are terrified because the American savings rate has crept upward from about zero to almost five percent. But the mortgage crisis and the burgeoning credit card crisis are causing Americans to become wary of irresponsible debt. — Denis Hayes

Tax laws favor capital over labor, giving capital gains a lower rate than ordinary income. The rich get humongous mortgage interest deductions while renters get no deduction at all. — Robert Reich

President Lyndon Johnson's administration was known for his War on Poverty. President Obama's will become notable for his War on Prosperity. We're speaking, of course, of Obama's plans to hike income taxes on the most wealthy 2 or 3 percent of the nation. He's not just raising the top rate to 39.6 percent; he's also disallowing about one-third of top earner's deductions, whether for state and local taxes, charitable contributions or mortgage interest. This is an effective hike in their taxes by an average of about 20 percent. — Dick Morris

Many politicians and pundits claim that the credit crunch and high mortgage foreclosure rate is an example of market failure and want government to step in to bail out creditors and borrowers at the expense of taxpayers who prudently managed their affairs. These financial problems are not market failures but government failure ... The credit crunch and foreclosure problems are failures of government policy. — Walter E. Williams

Opt for a fixed-rate rather than an adjustable-rate mortgage. — Suze Orman

Unpleasant odor wafting from the subprime mortgage industry that Eisman had detected. These companies disclosed their ever-growing earnings, but not much else. One of the many items they failed to disclose was the delinquency rate of the home loans they were making. — Michael Lewis

They flooded liquidity in the marketplace but the mortgage rate is based much more on expectations of inflation. So if the average investor believes that there is inflation coming, they'll move that rate up. — Franklin Raines