Understanding Credit Card Minimum Payments: A Comprehensive Guide At O1ne Mortgage, we prioritize consumer credit and finance education to help you make the best financial decisions. In this blog, we will delve into the concept of minimum payments on credit cards, how they are calculated, and the reasons why your minimum payment might increase. If […]
Maximizing Your Savings with a High-Yield Savings Account A high-yield savings account (HYSA) is a powerful tool for achieving your short-term financial goals. Unlike traditional savings accounts, HYSAs offer significantly higher interest rates, allowing your money to grow faster. But how much should you deposit in your HYSA? The answer depends on your specific financial […]
Understanding Refinancing: A Comprehensive Guide Refinancing is a financial strategy that involves replacing an existing loan with a new one, typically to secure better terms for the borrower. This could mean obtaining a lower interest rate, shortening the loan term, or even tapping into the equity of an asset. At O1ne Mortgage, we specialize in […]
The Impact of Interest Rates on Home Buying In the fall of 2021, the average interest rate on 30-year fixed mortgages was just under 3%. By fall of 2023, due to Federal Reserve rate hikes to curb inflation, it was nearly 8%. Higher interest rates mean higher monthly mortgage payments and lifetime costs of a […]
As we navigate the complexities of senior mortgage rates, one pivotal aspect stands out: reverse mortgage interest rates. These rates play a defining role in shaping the financial landscape for many seniors, influencing not only the borrowing ability but also the eventual cost over a loan’s lifetime. Recognizing the fluid nature of reverse loan interest, […]
