mortgage rates in ct: What You Need To Know About The Mortgage Process in CT
- 07/20/18 11:41 AM
Some Highlights: Many CT buyers are purchasing a home with a down payment as little as 3%. You may already qualify for a loan, even if you don’t have perfect credit. Take advantage of the knowledge of your local professionals who are there to help you determine how much you can afford. Contact a Real Estate professional from Dave Jones Realty who can assist with any of your Real Estate needs! … (1 comments)
mortgage rates in ct: Rising Interest Rates in CT Have Not Dampened Demand
- 07/16/18 07:20 AM
Since the beginning of the year, mortgage interest rates have risen over a half of a percentage point (from 3.95% to 4.52%), according to Freddie Mac. Even a small rise in interest rates can greatly impact a buyer’s monthly mortgage payment. First American recently released the results of their quarterly Real Estate Sentiment Index (RESI), in which they surveyed title and real estate agents across the country about the impact of rising rates on first-time homebuyers. Real estate professionals around CT have not noticed a slowdown in demand for housing among young buyers; nearly 93% of all first-time homebuyers last quarter were between the ages of 21-35, with … (0 comments)
mortgage rates in ct: Are CT Lending Standards Too Loose... or Too Tight?
- 06/14/18 06:29 AM
With CT home values appreciating at record rates, some are concerned that we may be heading for another housing bubble like the one we experienced a decade ago. One of the major culprits of that housing boom and bust was the loosening of standards for mortgage credit. In a study done at the University of North Carolina immediately after the crisis, it was revealed that: “Lenders began originating large numbers of high risk mortgages from around 2004 to 2007, and loans from those vintage years exhibited higher default rates than loans made either before or after.” A study by John V … (0 comments)
mortgage rates in ct: Be Thankful You Don't Have To Pay Your Parent's Interest Rate!
- 03/30/18 09:05 AM
Interest rates hovered around 4% for the majority of 2017 in CT, which gave many buyers relief from rising home prices and helped with affordability. In the first quarter of 2018, rates have increased from 3.95% up to 4.45% and experts predict that rates will increase even more by the end of the year. The rate you secure greatly impacts your monthly mortgage payment and the amount you will ultimately pay for your home. Don’t let the prediction that rates will increase stop you from purchasing your dream home this year. Let’s take a look at a historical view of interest … (1 comments)
mortgage rates in ct: Rising Mortgage Rates DO NOT Lead to Falling Ct Home Prices
- 03/23/18 07:20 AM
Recently, Freddie Mac published an Insight Report titled Nowhere to go but up? How increasing mortgage rates could affect housing. The report focused on the impact the projected rise in mortgage rates might have on the housing market this year. Many believe that an increase in mortgage rates will cause a slowdown in purchases which would, in turn, lead to a fall in house values. Ultimately, however, prices are determined by supply and demand and while rising mortgage rates may slow demand, they also affect supply. From the report: “For current homeowners, the decision to buy a new home is typically linked to their decision to … (1 comments)
mortgage rates in ct: The Cost of Waiting in CT: Interest Rates Edition
- 03/16/18 08:29 AM
Some Highlights: CT interest rates are projected to increase steadily heading into 2019. The higher your interest rate, the more money you end up paying for your home and the higher your monthly payment will be. Rates are still low right now. Don’t wait until rates hit 5% to start searching for your dream home in CT! Contact a Real Estate professional from Dave Jones Realty who can assist with any of your Real Estate needs! … (0 comments)
mortgage rates in ct: The Mortgage Process in CT: What You Need to Know!
- 02/26/18 10:51 AM
Some Highlights: Many CT buyers are purchasing a home with a down payment as little as 3%. You may already qualify for a loan, even if you don’t have perfect credit. Take advantage of the knowledge of your professionals at Dave Jones Realty who are there to help you determine how much you can afford. … (1 comments)
mortgage rates in ct: Mortgage Rates in Ct On FIRE! Home Prices Up in Smoke?
- 02/26/18 10:48 AM
Mortgage interest rates have already risen by over a quarter of a percentage point in 2018. Many are projecting that rates could increase to 5% by the end of the year. What impact will rising rates have on house values in CT? Many quickly jump to the conclusion that an increase in mortgage rates will have a detrimental impact on real estate prices as fewer buyers will be able to qualify for a loan. This seems logical; if there is less demand for housing then prices will drop. However, in a good economy, rising mortgage rates increase demand as many prospective … (0 comments)
mortgage rates in ct: Should I Wait Until Next Year to Buy in CT? Or Buy Now?
- 02/21/18 09:08 AM
Some Highlights: The Cost of Waiting to Buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time. Freddie Mac predicts interest rates to rise to 5.1% by 2019. CoreLogic predicts home prices to appreciate by 4.3% over the next 12 months. If you are ready and willing to buy your dream CT home, find out if you are able to! Contact a Real Estate professional from Dave Jones Realty who can assist with any of your Real Estate needs! … (1 comments)
mortgage rates in ct: Where Are Mortgages Interest Rates in CT Headed in 2018?
- 02/09/18 10:20 AM
The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search. Below is a chart created using Freddie Mac’s U.S. Economic & Housing Marketing Outlook. As you can see, interest rates are projected to increase steadily over the course of the next 12 months.
How Will This Impact Your CT Mortgage Payment? Depending on the amount of the loan that you secure, a half of a … (0 comments)
mortgage rates in ct: Low Interest Rates in CT Have a High Impact on Your Buying Power
- 11/28/17 08:49 AM
According to Freddie Mac’s latest Primary Mortgage Market Survey, CT interest rates for a 30-year fixed rate mortgage are currently at 3.92%, which is still near record lows in comparison to recent history! The interest rate you secure when buying a CT home not only greatly impacts your monthly housing costs, but also impacts your purchasing power. Purchasing power, simply put, is the amount of home you can afford to buy for the budget you have available to spend. As rates increase, the price of the house you can afford will decrease if you plan to stay within a certain monthly housing budget. The chart below … (2 comments)
mortgage rates in ct: Bubble Alert! Is it Getting Too Easy To Get A Mortgage in CT?
- 11/24/17 06:44 AM
There is little doubt that it is easier to get a home mortgage today in CT than it was last year. The Mortgage Credit Availability Index (MCAI), published by the Mortgage Bankers Association, shows that mortgage credit has become more available in each of the last several years. In fact, in just the last year: More CT buyers are putting less than 20% down to purchase a home The average credit score on closed mortgages is lower More low-down-payment programs have been introduced This has some people worrying that we are returning to the lax lending standards which led to the boom and bust that … (0 comments)
mortgage rates in ct: Renting or Buying in CT... Either Way You're Paying a Mortgage
- 11/03/17 07:55 AM
There are some people who have not purchased CT homes yet because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s. As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical Steps to Getting Rich,” “While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you rich overnight, but by renting, you’re paying someone else’s mortgage. In effect, you’re making someone else … (0 comments)
mortgage rates in ct: The Impact on Connecticut Mortgage Rates
- 07/24/16 11:10 PM
Just over a month ago, the United Kingdom decided to withdraw from the European Union in a decision commonly known as Brexit. At that time there was a lot of speculation on how that decision would impact the Connecticut residential mortgage market. Today, I want to share the impact of the first 30 days. Most believed that the Brexit decision would drive Connecticut mortgage rates down and keep them down for some time. As CoreLogic reported: “First-time Connecticut buyers can count on continued low mortgage rates to help with affordability issues. Similarly, re-setting adjustable rate loans will have less of a rate shock, and in … (2 comments)
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Some Highlights: Many CT buyers are purchasing a home with a down payment as little as 3%. You may already qualify for a loan, even if you don’t have perfect credit. Take advantage of the knowledge of your local professionals who are there to help you determine how much you can afford. Contact a Real Estate professional from Dave Jones Realty who can assist with any of your Real Estate needs!
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