The benchmark 30-year fixed-rate mortgage fell this week to 3.71 percent from 3.75 percent, according to Bankrate’s weekly survey of large lenders.

Mortgage rates have declined with the 10-year Treasury note, which closely tracks mortgage rates. Stocks and government bond yields are falling in the wake of worries about the worldwide coronavirus outbreak.

A year ago, the 30-year rate was 4.54 percent. Four weeks ago, the rate was 3.70 percent. The 30-year fixed-rate average for this week is 0.91 percentage points below the 52-week high of 4.62 percent, and is 0.01 percentage points greater than the 52-week low of 3.70 percent.

The 30-year fixed mortgages in this week’s survey had an average total of 0.30 discount and origination points.

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According to a recent article from Northwestern Mutual, your credit score is one of the most important numbers in your life, as it’s used to set the rates you get on loans. A good score can make a big difference for your money.

That’s why it’s worth taking notice that one of the most common credit scores — known as the FICO score — will be calculated differently starting this summer. Fair Isaac Corp., which produces the FICO score, estimates that about 110 million Americans will see a change of less than 20 points, and about 80 million people will see a change of 20 points or more.

HOW DOES THE FICO SCORE WORK?

FICO scores are used by most lenders when they make decisions about things like giving you a car loan, personal loan, a mortgage or even…

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On Wednesday, August 14, 2019, the Federal Housing Administration issued an update to its condominium rules, which go into effect October 15, 2019. The FHA said it expects the updates, which are intended to improve access to affordable and sustainable housing, will allow an estimated 20,000 to 60,000 more borrowers to qualify for condo loans.

Some of the key changes to the guidelines include:

  • An individual condo unit in a building of 10 or more units may be eligible for spot approval if no more than 10% of the units are FHA insured. For units in buildings with fewer than 10 units, no more than two units can have FHA insurance.
  • The recertification deadline for approved condo projects is extended from two to three years.
  • FHA will insure more…

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Student and Parent Update - January 2020

Big picture

General Overview

As we kick off 2020, the excitement is building around the high school transition. We still have a lot of work to do in order to prepare for the BHS renovation and the opening of Gallatin High. So far we continue to make progress on our list of things to do with more than 60% completion. While we have a lot of work to do this spring, we are still on track in all categories.

 

If you're in the Board room at the Willson, be sure to check out our progress on the back wall.

How to Get involved

Parent Advisory Councils are up and running for both high…

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