Blog
January 1st, 2013

No. 1: ‘Trendy 20-year mortgages’

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Treasury Dollar BillNumber one on our Top-10 list of most popular articles of 2012 is “Trendy 20-year mortgages.”

Publish date: Oct. 10, 2012
Written by: Michele Lerner

Excerpt:

More and more homeowners are taking a two-pronged approach to their refinance: lowering their interest rate and opting for a shorter-term loan.

While your monthly payments are likely to rise if you refinance from a 30-year loan to a 20-year loan, historically-low mortgage rates have made shorter-term home loans much more affordable.

20-year mortgages gaining popularity

According to the Mortgage Bankers Association (MBA), 30-year fixed-rate mortgages are still the most popular loan term for both purchase and refinance customers, but 20-year mortgages are becoming increasingly popular, especially among refinancers.

“Twenty-year fixed-rate loans are the third most popular mortgage product, behind 30 and 15-year fixed-rate loans, followed by 10 and 25-year mortgages,” says Matthew Robinson, senior public affairs specialist with the MBA.

Click here to read the entire article.

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HSH.com's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.

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Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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