Mortgage And Real Estate News This Week

Merry Christmas from Bankrate! As we close out 2021, here are the key mortgage and real estate stories from this week.

1. A mortgage rate reprieve

This holiday season is the perfect time to give yourself the gift of a mortgage refi. Rates dipped slightly despite the ongoing upward trend, so the window continues to slowly close on potential savings.

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2. Real estate tech for the new year

It seems like just about everything we do these days can be done online, but buying a house and taking out a mortgage still usually requires a mountain of in-person paperwork. That may be changing, albeit not very quickly. Here are some of the developments to look out for in 2022.

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3. What a cash-out refi means for your taxes

Taxes are complicated, though being a homeowner can get you some benefit when your annual bill comes from the IRS. It gets even more confusing when you take cash out of your home equity through a refinance. How you use the money and how much you take will influence how much of your new mortgage is eligible for deductions.

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4. Mortgage refi basics

We’ve talked a lot this year about how it’s a great time to refinance, but maybe you’re not sure what benefits can come from doing so. Whether it’s saving money or tapping your home equity, there’s a lot to be gained by overhauling your mortgage.

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5. Maximizing your home appraisal

If you are refinancing, or preparing to sell your home, it’s a good idea to get familiar with the home appraisal process. A lender will evaluate your home’s worth to figure out how much mortgage they’re willing to extend to you or your buyer. A low appraisal can seriously mess with your plans, so it’s important to be prepared and show your home in the best possible light.

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