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Mortgages Real Estate

Mortgage Rates Rose Last Month

We saw mortgage rates rise by 2/10’s of a percent last month. That rise will cost new borrowers an additional $12 per month for every $100,000 borrowed. Average U.S. rates for 30-year fixed rate mortgages are currently at 4.72%. At the end of last month, they were sitting at 4.52%. After a few months of relatively stability, the general forecast for a continued rise over the next twelve months is becoming a reality.

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Home Buying Home Prices Home Selling Real Estate

Did You Make $13k By Owning Your Home Last Year?

Roughly 63 percent of U.S. homeowners have mortgages. Given that large percentage, its important to understand what the equity positions in their homes look like to assess real estate fundamentals. The good news for us is that according to CoreLogic, homeowners with mortgages saw their equity in their homes rise by almost $1 trillion (12.3%) in the last year. That points to a healthier market.

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Mortgages Real Estate

The Latest Mortgage Delinquency Stats

The latest mortgage statistics show higher levels of delinquencies this year in Sarasota and Manatee counties. Both short-term delinquency rates (30 days late) and more serious delinquencies (90 days plus late) are up when compared to the same period last year. However, foreclosure rates continue to be lower than they were last year.

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Home Buying Real Estate

What’s Up With Mortgage Rates?

We saw mortgage rates stay essentially flat again last month after a rapid rise to start this year. Average U.S. rates for 30-year fixed rate mortgages are currently at 4.51%. At the end of last month, they were sitting at 4.54%. While it is great to see upward momentum reverse for the time being, the general forecast continues to be for a slow continued rise over the next twelve months.

Categories
Mortgages Real Estate

The Latest Local Mortgage Market Statistics

The latest mortgage statistics show higher levels of delinquencies this year. Both short-term delinquency rates (30 days late) and more serious delinquencies (90 days plus late) are up when compared to the same period last year. However, foreclosure rates continue to be lower than they were last year.