False article. You only pay for the money you use and when you use it. So if you close at the beginning of the month, you pay for the remaining days until the end of the month (Per Diem). If you close at the end of the month you pay less in Per Diem, but you don’t owe the house as long. If you were to close on the…

Misleading article. The Fed Funds rate does not have a direct impact on the long term rate. So saying a mortgage rate will go up by .25% because the Fed raised their rate is not accurate. The Fed Funds rate will affect rates of credit cards and open-ended mortgages (HELOCs) more directly. You can clearly see that any…