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Home Buying Home Selling Real Estate

The Value of 1%

When you purchase a home, the real estate listing price and down payment is only a small part of the equation. Once you have signed the dotted line, paid the closing costs, and turned the key to your home, you have some new numbers to consider.

Categories
Mortgages

The Fed Lowered Interest Rates, Why Haven’t Mortgage Rates Followed?

The answer to the headline is more complicated than you think. Thomas Ooten at Kessler Real Estate Financial Services has done a nice job of providing a high level explanation of what has happened in March. You can see what he wrote by clicking on this link.

When you look at his reasoning, you can see the outlook for mortgage rates in the near team is volatile. Not surprisingly, I can say the same about the real estate market as well. If you have any questions about our local market, I am here to help.

Categories
Home Buying Home Selling Mortgages Real Estate

The Latest on the Health of the Mortgage Market

Measuring mortgage delinquency rates is important for analyzing the health of the housing market. Despite recent stress in some areas of the country (mainly in the Midwest), mortgage delinquency rates continue to stay at near-record lows.

Categories
Mortgages Real Estate

The Latest on Mortgage Interest Rates

While we saw mortgage interest rates drop a bit to begin the last 30 days, they are now back in essentially the same place they were at this point in September 2019. The small recent change will save new borrowers over a $4.50 per month for every $100,000 borrowed. Average U.S. rates for 30-year fixed rate mortgages were at 3.65% as of this week. Last month at this time, they were sitting at 3.73%.

Categories
Home Buying Mortgages Real Estate

Mortgage Interest Rates Are Holding Steady

While we saw mortgage interest rates drop a bit to begin the last 30 days, they are now back in essentially the same place they were at this point in November. The miniscule change will save new borrowers just over a $1 per month for every $100,000 borrowed. Average U.S. rates for 30-year fixed rate mortgages were at 3.73% as of this week. Last month at this time, they were sitting at 3.75%.