Last week, an article in the Washington Post discussed a new ‘threat’ homebuyers will soon be facing: higher mortgage rates. The article revealed: “The Mortgage Bankers Association expects that rates on 30-year loans could reach 4.8 percent by the end of next year, topping 5 percent in 2017. Rates haven’t been that high since the recession.” How can this impact the housing market?The article reported that recent analysis from Realtor.com found that - “…as many as 7% of people who applied for a mortgage during the first half of the year would have had trouble qualifying if rates rose by half a percentage point.” This doesn’t necessarily mean that those buyers … (0 comments)
interest rates: Perfect Time to Buy a Home?
- 04/29/15 06:28 AM
Recently, Freddie Mac published a blog post titled Mortgage Rates: Still the Deal of the Century. They explained that, if you are planning to purchase a home, now may be the time: “If you are in the market to buy a home, today's average mortgage rates are something to celebrate compared to almost any year since 1971.” And they let their readers know that there is no guarantee that rates will remain this low: “Over the past few years, we've enjoyed a long run of historically low mortgage rates. While no one expects them to change dramatically overnight, they are expected to head up. Most … (0 comments)
interest rates: Don’t Wait! Move Up To The House You Always Wanted
- 01/19/15 03:43 AM
Now that the housing market has stabilized, more and more homeowners are considering moving up to the home they have always dreamed of. In most areas, prices are still below those of a few years ago. Also, interest rates are still near 4%. However, sellers should realize that waiting to make the move while mortgage rates are increasing probably doesn’t make sense. As rates increase, the price of the house you can buy will decrease. Here is a chart detailing this point:
;)
;)
;)
