where are mortgage rates headed: 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)

where are mortgage rates headed: The Cost of Waiting: Interest Rates Edition - 07/20/19 11:32 AM

  Some Highlights: Interest rates are projected to increase steadily heading into 2020. The higher your interest rate, the more money you will end up paying for your home and the higher your monthly payment will be. Rates are still low right now – don’t wait until they hit 5% to start searching for your dream home! … (0 comments)

where are mortgage rates headed: 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)

where are mortgage rates headed: 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)