mortgage rates: The Cost Across Time - 01/11/19 08:16 AM

 
Some Highlights: With interest rates still around 4.5%, now is a great time to look back at where rates have been over the last 40 years. Rates are projected to climb to 5.0% by this time next year according to Freddie Mac. The impact your interest rate makes on your monthly mortgage cost is significant! Lock in a low rate now while you can! … (0 comments)

mortgage rates: What Are the Experts Saying about Mortgage Rates? - 03/24/17 04:18 AM

Mortgage interest rates have risen over the last few months and projections are that they will continue their upswing throughout 2017. What impact will this have on the housing market? Here is what the experts are saying:
Laurie Goodman, Co-director of the Urban Institute’s Housing Finance Policy Center:
“In 1984, 1994, 2000, and 2013, every time we have rate increases, we have increases in nominal home prices. We expect this to be more pronounced, as there is a big demand-and-supply gap at the present time.”
Scott Anderson, Chief Economist for Bank of the West:
“The tightening labor market, rising wage growth, high levels of consumer confidence and a … (0 comments)

mortgage rates: Mortgage Interest Rates Went Up Again… Should I Wait to Buy? - 03/14/17 07:37 AM

Mortgage interest rates, as reported by Freddie Mac, have increased over the last several weeks. Freddie Mac, along with Fannie Mae, the Mortgage Bankers Association and the National Association of Realtors, is calling for mortgage rates to continue to rise over the next four quarters.
This has caused some purchasers to lament the fact they may no longer be able to get a rate below 4%. However, we must realize that current rates are still at historic lows.
Here is a chart showing the average mortgage interest rate over the last several decades.
Bottom LineThough you may have missed getting the lowest mortgage rate ever offered, you can still get a better interest … (2 comments)

mortgage rates: Where are mortgage interest rates headed? - 02/13/17 07:26 AM

A buyer must be concerned about more than just prices. The ‘long-term cost’ of a home can be dramatically impacted by even a small increase in mortgage rates.
The Mortgage Bankers Association (MBA), the National Association of Realtors, and Fannie Mae have all projected that mortgage interest rates will increase over the next twelve months, as you can see in the chart below:
 
 
(3 comments)

mortgage 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)

mortgage rates: Expect Mortgage Interest Rates to Rise Significantly in 2014 - 01/08/14 01:00 AM
Expect Mortgage Interest Rates to Rise Significantly in 2014
 
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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Tony Morganti

CRS, ABR, SRES - Cuyahoga Falls, Stow

Cuyahoga Falls, OH

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