One of the many advantages to Buyers in this market is the increased ability to negotiate with Sellers on the terms of their purchase. One of these terms is the interest rate on the Buyer’s loan. Buying down a rate can reduce the effects of recent rate increases and lower your monthly payment. If you’re […]
Read More How Buying Down Your Mortgage Rate Works
There’s a lot of noise out there right now about the health of the U.S. real estate market. While 2021 saw one of the busiest housing markets, predictions for what comes next seem to be almost exclusively negative in the press. Mortgage rates are rising, housing prices are still climbing, and a lack of new […]
Read More 3 Important Real Estate Metrics to Watch
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