Mortgages

When you’re on our mortgage comparison page, you’ll notice that one of the first questions we ask is which state you live in.

You’d think the answer wouldn’t matter. After all, interest rates are determined by the Federal Reserve (as well as the overall market), and most lenders operate nationwide. Additionally, much of the underwriting is done in a few central offices across the country.

Taking a “wait and see” approach to your home purchase? Well, you might want to evaluate that decision again – waiting to buy can seem like a prudent move, but in reality it can be anything but. With mortgage rates expected to move up over the next few years, postponing your purchase could actually be a very poor financial decision.

With home prices rising across the most of the country, it’s sometimes easy to forget just how severe the housing bust of 2008 really was. A new report from RealtyTrac says millions of Americans are still underwater on their mortgages more than five years after the bottom fell out of the U.S. real estate market.

As home price gains begin to slow, some analysts worry that a significant slice of homeowners may stay submerged in negative equity for years to come.

Daren Blomquist, RealtyTrac’s vice president, sees fewer U.S. homeowners returning to positive equity this year.