interest rates: What’s the Latest on Interest Rates?
- 08/27/19 10:00 AM
Mortgage rates have fallen by over a full percentage point since Q4 of 2018, settling at near-historic lows. This is big news for buyers looking to get more for their money in the current housing market.According to Freddie Mac’s Primary Mortgage Market Survey, “the 30-year fixed-rate mortgage (FRM) rate averaged 3.60 percent, the lowest it has been since November 2016.” Sam Khater, Chief Economist at Freddie Mac, notes how this is great news for homebuyers. He states, “…consumer sentiment remains buoyed by a strong labor market and low rates that will continue to drive home sales into the fall.” As a potential buyer, the best thing you can do is work … (0 comments)
Last month, the Federal Reserve, in a unanimous vote, decided to further decrease its bond purchasing. The bond purchases were the government's stimulus package created to keep long term mortgage interest rates artificially low in order to help drive the housing market. Most experts believe that tapering will cause interest rates to increase as we move through the year. Interest rates have remained relatively stable since the onset of the tapering in December. This is probably because the first round of increases had already been 'priced into' the … (0 comments)
interest rates: Don't Wait! Move Up to the Home You Always Wanted
- 01/28/14 12:10 AM
Don't Wait! Move Up to the Home You Always Wanted Now that the housing market has stabilized, more and more homeowners are considering moving up to the home they have always dreamed of. Prices are still below those of a few years ago and interest rates are still below 5%. 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. Above is a chart detailing this point. When you're ready to make that 'move-up' move, call me. I … (5 comments)
Most industry experts believe that mortgage interest rates will continue to increase this year. Various analysts project those rate increases will take us somewhere between 4.8% and 5.3% by the 4th Quarter of the year.
The chart above are the most recent projections of where rates will be by the end of 2014. We believe rates will be higher by year end.........perhaps closer to 6%.
Last month the Fed announced they would pull back some of their stimulus package which has been very helpful in keeping long term … (0 comments)
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