interest rates: Lowest Mortgage Rates In History
- 09/11/20 05:24 PM
Lowest Mortgage Rates in History: What It Means for Homeowners and Buyers 31 Jul 2020 by Jordan Terry In July, the average 30-year fixed-rate mortgage fell below 3% for the first time in history.1 And while many Americans have rushed to take advantage of this unprecedented opportunity, others question the hype. Are today’s rates truly a bargain? While average mortgage rates have drifted between 4% and 5% in recent years, they haven’t always been so low. Freddie Mac began tracking 30-year mortgage rates in 1971. At that time, the national average was 7.31%.2 As the rate of inflation started to rise in the mid-1970s, mortgage rates … (1 comments)
interest rates: Higher Interest Rates Contribute to Home Buyer Demand
- 07/23/13 06:17 AM
I'm quoted in today's Marin Independent Journal article titled "Marin Home Sales Soar in June Compared with Last Year" commenting on how the prospect of increasing interest rates are contributing to the run-up in home prices. In the long term, higher interest rates would be expected to put a damper on home prices, since buyers' payments increase and they can afford less home with higher rates, but in the short term, the prospect of the current low rates going higher is an incentive for buyers to lock in today's low rates, increasing demand and driving up prices. In years past, 6% was … (0 comments)
interest rates: Why you missed the boat on record-low mortgage rates
- 06/25/13 08:49 AM
CNN Money reports that "borrowers who didn’t take advantage of the historically low interest rates likely have missed the opportunity to purchase or refinance using an ultra-low mortgage rate. In the past month, rates have been on the rise and are expected to continue to climb. Fannie Mae’s chief economist doesn’t believe mortgage rates will ever be that low again." To find out why this is probably the case, but to also learn the good news regarding mortgage rates, send an email to me to request the complete article. Peter@MarinRealtyExperts.com
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interest rates: I thought interest rates were supposed to be going down. Why aren't they?
- 12/04/10 08:06 AM
The Fed's "Quantitative Easing" policy of buying up bonds is supposed to put more money into the economy and drive down interest rates even further than they already are. So why did my morgage broker call me and tell me that the cost of money is going up and he can no longer offer the terms he quoted last week to refinance a 4-plex that I own? Last week he said he could do it at a rate of 4.99% with 1 point. Now he says he can only give me that interest rate for 2.5 points! So it doesn't look … (0 comments)
interest rates: Interest Rates For Home Purchases
- 03/17/10 02:22 PM
The Federal Reserve announced yesterday that it will maintain its target for the federal funds rate in the 0 to 0.25 percent range, and expects economic conditions to warrant exceptionally low levels of the federal funds rate for an extended period of time. The federal funds rate is the rate that banks lend balances (federal funds) to each other, usually overnight. While this would seem like good news to home buyers, the Fed also announced that it would end its program of purchasing mortgage-backed securities guaranteed by Fannie Mae and Freddie Mac to help keep home loan rates low. That program will conclude … (0 comments)
interest rates: Mortgage rates to climb - Now is the time to buy!
- 02/15/10 12:51 PM
A front page article in this morning's San Francisco Chronicle is titled "Mortgage rates to climb as aid ends." The author, Carolyn Said, wrote that "The Federal Reserve is poised to turn off a major money spigot that has helped sustain the ailing real estate sector, as an extraordinary program under which the Fed has pumped $1.25 trillion into the mortgage market is slated to end March 31." The article goes on to quote various authorities, all of whom agree that this will cause home mortgage rates to to up. (The federal government stepped in to buy mortgage backed securities after the … (2 comments)
Lowest Mortgage Rates in History: What It Means for Homeowners and Buyers 31 Jul 2020 by Jordan Terry In July, the average 30-year fixed-rate mortgage fell below 3% for the first time in history.1 And while many Americans have rushed to take advantage of this unprecedented opportunity, others question the hype. Are today’s rates truly a bargain?
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