Mortgage Rates Drop to Lowest Level in over a Year and a Half Mortgage rates have hit their lowest point in over a year and a half. And that’s big news if you’ve been sitting on the homebuying sidelines waiting for this moment. Even a small decline in rates could help ...
Continue ReadingHow the Economy Impacts Mortgage Rates As someone who’s thinking about buying or selling a home, you’re probably paying close attention to mortgage rates – and wondering what’s ahead. One thing that can affect mortgage rates is the Federal Funds Rate, which influences how much it costs banks to borrow money from each other. While ...
Continue ReadingSpring Into Action: Preparing for the Real Estate Market As the spring season approaches, many of us start thinking about sprucing up our homes, but for others, it’s the perfect time to dive into the real estate market. Whether you’re looking to buy or sell, preparation is key to making ...
Continue ReadingDeciphering Interest Rates and APR: Unveiling the Complete Picture of Borrowing Costs In the realm of securing a mortgage, many homebuyers fixate solely on the interest rate, overlooking crucial aspects of borrowing costs. While the interest rate is pivotal, it doesn’t encapsulate the entirety of borrowing expenses. Enter the Annual ...
Continue ReadingFebruary 1, 2024 Although affordability continues to impact homeownership, the combination of a solid economy, strong demographics and lower mortgage rates are setting the stage for a more robust housing market. Mortgage rates have been stable for nearly two months, but with continued deceleration in inflation, rates are expected to ...
Continue ReadingWhat Lower Mortgage Rates Mean for Your Purchasing Power If you want to buy a home, it’s important to know how mortgage rates impact what you can afford and how much you’ll pay each month. Fortunately, rates for 30-year fixed mortgages have come down significantly since the end of October and are currently ...
Continue ReadingMortgage Interest Rates Update 📈🏠 As the new year began, mortgage interest rates remained almost unchanged. Following a gradual decline over 9 weeks, rates experienced a slight uptick from 6.61% to 6.62%. This minimal weekly change translates to just a $2 increase in the typical monthly payment for a $400,000 ...
Continue ReadingHeading into the New Year, Mortgage Rates Remain on a Downward Trend December 28, 2023 The rapid descent of mortgage rates over the last two months stabilized a bit this week, but rates continue to trend down. Heading into the new year, the economy remains on firm ground with solid ...
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