Good Morning,
So, did you sit and watch the presidential debates last night or possibly the Major League Baseball playoff game? I chose to watch the latter not necessarily because I feel the debates aren’t worth watching. I just get a little overwhelmed with the amount of fact checking I have to do afterwards to determine what was accurate. There’s just something a little more pleasant about baseball.
The good news in the market this week, median home prices are rising. The bad news, a lot of this is spurred by low interest rates then the question becomes; what happens to the housing market if rates rise significantly again over the coming years? Will there be enough confidence to sustain growth? I think these are some of the same questions the Federal Reserve is wrestling with and I’d hope they have more informed answers than I do.
Have a great week!
Matt
Rates: 30 year fixed at 3.375% (APR 3.511) and the 15 year at 2.75% (APR 2.992), FHA: 2.99% (APR 3.792): As always rates change with individual credit scenarios and programs, APRs are estimated based off of a $250,000 purchase price with 20% down and a 740 credit score, if you want an exact quote, call. These are not quotes, merely a baseline measure to gauge how rates change from week to week.
Matt
Matt Royer
Mortgage Consultant, CMC | Homes Mortgage
NMLS# 366970
612-232-7646 c
651-770-0637 o
651-294-1001 f
www.MattRoyer.com
mroyer@homesmortgage.net
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