Author: Beenish Rida Habib
Beenish Rida Habib
Beenish Rida Habib is a Mortgage & Lending Contributor at ACT Global Media, providing educational content on U.S. mortgage, lending, and credit topics in a neutral, consumer-focused format. She is a Florida-licensed Mortgage Loan Originator (NMLS #1721345). This content is for informational purposes only and does not constitute financial or lending advice. Readers should consult a licensed mortgage professional for guidance specific to their situation.
Introduction When budgeting for a home purchase in the United States, many buyers focus primarily on the down payment and underestimate closing costs—the additional fees and charges paid at or near settlement. These costs can represent a significant upfront expense beyond the purchase price of the home. According to the Consumer Financial Protection Bureau (CFPB), the median total loan cost for home purchase loans was $5,954 in 2022, reflecting a 22% increase from 2021. The CFPB also reported that 50.2% of borrowers paid discount points, with a median cost of $2,370 when points were used. These figures illustrate that closing…
Introduction Mortgage interest rates are one of the most influential—but often less visible—factors shaping the U.S. housing market. Even when home prices remain relatively stable, changes in mortgage rates can affect estimated monthly payments for new borrowers. These shifts may influence affordability assessments, buyer demand, and overall housing market activity. In the United States, most homebuyers rely on long-term fixed-rate mortgages, making the 30-year fixed mortgage rate a commonly referenced benchmark. According to Freddie Mac’s Primary Mortgage Market Survey (PMMS), the average 30-year fixed rate was 6.06% as of January 15, 2026, compared with 7.04% one year earlier. Changes of…