In the last few weeks, the average 30-year fixed mortgage rate from Freddie Mac inched up to 5%. While that news may have you questioning the timing of your home search, the truth is, timing has never been more important. Even though you may be tempted to put your plans on hold in hopes that rates will […]Read More How To Approach Rising Mortgage Rates as a Buyer
While mortgage rates remain historically low, they are going up. And, the documentation that Sellers expect to see from Buyers that are financing has gone up as well. Here are some important elements to consider BEFORE you embark on a house hunt: How does a rate hike effect my bottom line? Let’s use a $1,000,000 purchase with 20% […]Read More Consider this before embarking on a House hunt
With the average 30-year fixed mortgage rate from Freddie Mac climbing above 3%, rising rates are one of the topics dominating the discussion in the housing market today. And since experts project rates will rise further in the coming months, that conversation isn’t going away any time soon. But as a homebuyer, what do rates above 3% really mean? Today’s Average Mortgage Rate […]Read More Two Graphs That Show Why You Shouldn’t Be Upset About 3% Mortgage Rates
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: […]Read More The Main Key To Understanding the Rise in Mortgage Rates
Are Interest Rates Expected to Rise Over the Next Year? 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 […]Read More Are Interest Rates Expected to Rise Over the Next Year?
In 2020, buyers got a big boost in the housing market as mortgage rates dropped throughout the year. According to Freddie Mac, rates hit all-time lows 12 times this year, dipping below 3% for the first time ever while making buying a home more and more attractive as the year progressed (See graph below):When you continually hear how rates are […]Read More Will Mortgage Rates Remain Low Next Year?
Housing inventory is at an all-time low. There are 39% fewer homes for sale today than at this time last year, and buyer demand continues to set records. Zillow recently reported: “Newly pending sales are up 25.5% compared to the same week last year, the highest year-over-year increase in the weekly Zillow database.” Whenever there is a shortage in supply […]Read More The Cost of a Home Is Far More Important than the Price
Interest rates are low. Inventory is low. Whether you want to Buy or Sell or both, now could be the right time for you to be proactive. Just send me an email or call 619-888-2117.Read More Mortgage Rates are Low
Today’s housing market is making a truly impressive turnaround, and it’s also setting up some outstanding opportunities for buyers and sellers. Whether you’re thinking of buying or selling a home this year, there are perks today that are rarely available, and definitely worth looking into. Here are the top two. The Biggest Perk for Buyers: Low Mortgage Rates The […]Read More Current Buyer and Seller Perks in the Housing Market
By now, we’ve all grown accustomed to the screaming, panic-inducing headlines: “Mortgage Rates Are on the Rise!” But what does this actually mean to home buyers? With mortgage interest rates notching up just small fractions of a point, is it really as big a deal as experts are making it out to be?Well, yes. […]Read More What Home Buyers Need to Know When Mortgage Rates Rise – Even Just a Fraction