mortgage rates: Don't Wait for a Lower Mortgage Rate It Could Cost You
- 10/25/21 06:34 AM
Todays housing market is truly one for the record books. Over the past year, we've seen the lowest mortgage rates in history. And while those rates seemed to bottom out in January of this year, the golden window of opportunity for buyers isn't over just yet. If you're one of the buyers who worry they've missed out, rest assured todays mortgage rates are still worth taking advantage of. Even today, our mortgage rates are below what they've been in recent decades. So, while you may not be able to lock in the rate your friend got recently, you're still in a great … (2 comments)
mortgage rates: The Main Key To Understanding the Rise in Mortgage Rates
- 10/22/21 06:21 AM
Every Thursday, Freddie Mac releases the results of their Primary Mortgage Market Survey which reveals the most recent movement in the 30-year fixed mortgage rate. Last week, the rate was announced as 3.01%. It was the first time in three months that the mortgage rate surpassed 3%. In a press release accompanying the survey, Sam Khater, Chief Economist at Freddie Mac, explains: Mortgage rates rose across all loan types this week as the 10-year U.S. Treasury yield reached its highest point since June. The reason Khater mentions the 10-year U.S. Treasury yield is because there has been a very strong relationship between … (1 comments)
mortgage rates: Fact or Fiction: Homebuyer Edition
- 09/12/21 10:10 AM
Some Highlights When it comes to the current housing market, there are multiple misconceptions from what the current supply of available homes looks like to how much houses are selling for. It takes professionals who study expert opinions and data to truly understand the real estate market and separate fact from fiction. Trust the pros. If you want to understand why its still a good time to buy, lets connect today. … (1 comments)
mortgage rates: What Do Experts Say About Todays Mortgage Rates?
- 09/04/21 05:30 AM
Mortgage rates are hovering near record lows, and that's good news for todays homebuyers. The graph below shows mortgage rates dating back to 2016 and where today falls by comparison. Generally speaking, when rates are low, you can afford more home for your money. That's why experts across the industry agree todays low rates present buyers with an incredible opportunity. Here's what they have to say: Sam Khater, Chief Economist at Freddie Mac, points out the historic nature of todays rates:As the economy works to get back to its pre-pandemic self, and the fight against COVID-19 variants unfolds, owners and buyers continue to … (3 comments)
mortgage rates: What You Should Do Before Interest Rates Rise
- 07/30/21 05:14 AM
In todays real estate market, mortgage interest rates are near record lows. If you've been in your current home for several years and haven't refinanced lately, there's a good chance you have a mortgage with an interest rate higher than todays average. Here are some options you should consider if you want to take advantage of todays current low rates before they rise. Sell and Move Up (or Downsize)Many of todays homeowners are rethinking what they need in a home and redefining what their dream home means. For some, continued remote work is bringing about the need for additional space. For others, moving … (4 comments)
mortgage rates: Are Interest Rates Expected to Rise Over the Next Year?
- 05/11/21 06:27 AM
So far this year, mortgage rates continue to hover around 3%, encouraging many hopeful homebuyers to enter the housing market. However, there's a good chance rates will increase later this year and going into 2022, ultimately making it more expensive to borrow money for a home loan. Here's a look at what several experts have to say. Danielle Hale, Chief Economist, realtor.com:Our long-term view for mortgage rates in 2021 is higher. As the economic outlook strengthens, thanks to progress against coronavirus and vaccines plus a dose of stimulus from the government, this pushes up expectations for economic growth . . . … (4 comments)
mortgage rates: How Upset Should You Be about 3% Mortgage Rates?
- 03/22/21 06:43 AM
Last Thursday, Freddie Mac announced that their 30-year fixed mortgage rate was over 3% (3.02%) for the first time since last July. That news dominated real estate headlines that day and the next. Articles talked about the negative impact it may have on the housing market. However, we should realize two things: 1. The bump-up in rate should not have surprised anyone. Many had already projected that rates would rise slightly as we proceeded through the year. 2. Freddie Macs comments about the rate increase were not alarming: The rise in mortgage rates over the next couple of months is likely to be more … (3 comments)
mortgage rates: The Reason Mortgage Rates Are Projected to Increase and What It Means for You
- 03/15/21 07:52 AM
Were currently experiencing historically low mortgage rates. Over the last fifty years, the average on a Freddie Mac 30-year fixed-rate mortgage has been 7.76%. Today, that rate is 2.81%. Flocks of homebuyers have been taking advantage of these remarkably low rates over the last twelve months. However, there's no guarantee rates will remain this low much longer. Whenever we try to forecast mortgage rates, we should consider the advice of Mark Fleming, Chief Economist at First American: You know, the fallacy of economic forecasting is don’t ever try and forecast interest rates and/or, more specifically, if you’re a real estate economist mortgage rates, … (1 comments)
mortgage rates: 3 Ways Home Equity Can Have a Major Impact on Your Life
- 03/09/21 06:20 AM
3 Ways Home Equity Can Have a Major Impact on Your Life There have been a lot of headlines reporting on how homeowner equity (the difference between the current market value of your home and the amount you owe on your mortgage) has dramatically increased over the past few years. CoreLogic indicated that equity increased for the average homeowner by $17,000 in the last year alone. ATTOM Data Solutions, in their latest U.S. Home Equity Report, revealed that 30.2% of the 59 million mortgaged homes in the United States have at least 50% equity. That doesn't even include the 38% of homes … (2 comments)
mortgage rates: Will Low Mortgage Rates Continue through 2021?
- 03/07/21 06:52 AM
With mortgage interest rates hitting record lows so many times recently, some are wondering if well see low rates continue throughout 2021, or if they'll start to rise. Recently, Freddie Mac released their quarterly forecast, noting: The average 30-year fixed-rate mortgage hit a record low over a dozen times in 2020 and the low interest rate environment is projected to continue through this year. We expect interest rates to average below 3% through the end of 2021. While this is a modest rise from 2020 averages, the recent vote by the Federal Reserve to keep interest rates anchored near zero should keep … (6 comments)
Todays housing market is truly one for the record books. Over the past year, we've seen the lowest mortgage rates in history. And while those rates seemed to bottom out in January of this year, the golden window of opportunity for buyers isn't over just yet. If you're one of the buyers who worry they've missed out, rest assured todays mortgage rates are still worth taking advantage of.
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