September 23rd Market Update: How much can you afford?

Mortgage and Lending with Homes Mortgage NMLS# 366970

Hello there!


My snow blower is tuned up and ready to go…wait, what?  Too early?  Yeah, I certainly hope I won’t be using it until January.  After last year, we need a nice looooong fall.  It’d give us all some time to head up to the North shore, Hike along Temperance River and take in the fall colors.  If you’ve never done it, you don’t know what you’re missing!


Rates have dipped back to what I’m coining as ‘the usual summer rates’.  This is a nice run back from last week’s spike but unless there is some major news to shake the market, I don’t see interest rates progressing lower.  The more likely scenario is that we count the days (or weeks) where rates hold this low.


Have you seen this: How much can you afford?  I’m glad they provide a monthly payment because I  sincerely believe this is a big problem with the industry as a whole. The first question to a homebuyer should always be: “How much are you comfortable paying for a mortgage each month?” This business is not to create house poor homeowners, it’s to help improve the lives of each person we come across with one of the biggest financial decisions they will be a part of.   I’m done with my little rant.



Have a great week!





Rates: 30 year fixed at 4.125% (APR 4.205) and the 15 year at 3.375% (APR 3.474), FHA: 3.75% (APR 5.835): As always, rates change with individual credit scenarios and programs, APRs are estimated based off of a $250,000 purchase price with 20% down and a 740 credit score, if you want an exact quote, call. These are not quotes, merely a baseline measure to gauge how rates change from week to week.

Matt Royer
Mortgage Consultant, CMC NMLS 366970

Homes Mortgage NMLS 298853

612-232-7646 cell I 651-770-0637 office


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Matthew Royer

NMLS # 366970
Email me today for clear advice in plain english!
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