Mortgage Rates: Past, Present, and Possible Future
If you’re hoping to buy a home this year, you’re probably paying close attention to mortgage rates.
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Mortgage Rates Will Come Down, It’s Just a Matter of Time
This past year, rising mortgage rates have slowed the red-hot housing market. Over the past nine months, we’ve seen fewer homes sold than the previous month as home price growth has slowed. All of this is due to the fact that the average 30-year fixed mortgage rate has doubled this year, severely limiting homebuying power for consumers. And, this month, the average rate for financing a home briefly rose over 7% before coming back down into the high 6% range. But we’re starting to see a hint of what mortgage interest rates could look like next year.
Freddie Mac: Doubtful Rates Will Return to Recent Lows
"One thing seems certain: we aren't likely to see average 30-year fixed mortgage rates return to the historic lows experienced in 2012."
- Freddie Mac, March 24, 2014
There are those that hope that 30-year mortgage interest rates will head bac...
The Impact of Changing Mortgage Rates [INFOGRAPHIC]
If you’re looking to buy a home, you should know even a small change in mortgage rates has an impact on your purchasing power.
What You Should Do Before Interest Rates Rise
In today’s real estate market, mortgage interest rates are near record lows. If you’ve been in your current home for several years and haven’t refinanced lately, there’s a good chance you have a mortgage with an interest rate higher than today’s average. Here are some options you should consider if you want to take advantage of today’s current low rates before they rise.
The Cost of Waiting for Mortgage Rates To Go Down
Mortgage rates have increased significantly in recent weeks. And that may mean you have questions about what this means for you if you’re planning to buy a home. Here’s some information that can help you make an informed decision when you set your homebuying plans.
Are Higher Mortgage Rates Here To Stay?
Mortgage rates have been back on the rise recently and that’s getting a lot of attention from the press.
The Impact of Inflation on Mortgage Rates
If you’re reading headlines about inflation or mortgage rates, you may see something about the recent decision from the Federal Reserve.
How Inflation Affects Mortgage Rates
When you read about the housing market in the news, you might see something about a recent decision made by the Federal Reserve (the Fed).
The Main Reason Mortgage Rates Are So High
Today’s mortgage rates are top-of-mind for many homebuyers right now.
Will Mortgage Rates Remain Low 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):
Wondering How Much You Need To Save for a Down Payment?
If you’re getting ready to buy your first home, you’re likely focused on saving up for everything that purchase involves. One cost that’s likely top of mind is your down payment. But don't let a common misconception about how much you need to save make the process harder than it could be.
Why Home Prices Keep Going Up
If you've ever dreamed of buying your own place, or selling your current house to upgrade, you're no stranger to the rollercoaster of emotions changing home prices can stir up.
What To Expect From the Housing Market in 2023
The 2022 housing market has been defined by two key things: inflation and rapidly rising mortgage rates. And in many ways, it's put the market into a reset position.
Will Low Mortgage Rates Continue through 2021?
With mortgage interest rates hitting record lows so many times recently, some are wondering if we’ll see low rates continue throughout 2021, or if they’ll start to rise. Recently, Freddie Mac released their quarterly forecast, noting:
What Do Experts Say About Today’s Mortgage Rates?
Mortgage rates are hovering near record lows, and that’s good news for today’s homebuyers. The graph below shows mortgage rates dating back to 2016 and where today falls by comparison.
Unmasking Scary Myths about Today’s Housing Market [INFOGRAPHIC]
Here’s what you really need to know about a few myths causing fear in today’s housing market.
Explaining Today’s Low Housing Supply [INFOGRAPHIC]
Wondering why the supply of homes for sale is limited today?
Where Are Mortgage Rates Headed?
There’s never been a truer statement regarding forecasting mortgage rates than the one offered last year by Mark Fleming, Chief Economist at First American:
How Global Uncertainty Is Impacting Mortgage Rates
If you’re thinking about buying or selling a home, you’ll want to keep a pulse on what’s happening with mortgage rates. Rates have been climbing in recent months, especially since January of this year. And just a few weeks ago, the 30-year fixed mortgage rate from Freddie Mac approached 4% for the first time since May of 2019. But that climb has dropped slightly over the past few weeks (see graph below):
How Much Do You Need for Your Down Payment?
As you set out on your homebuying journey, you likely have a plan in place, and you’re working on saving for your purchase. But do you know how much you actually need for your down payment?
The Benefits of Buying a Multi-Generational Home [INFOGRAPHIC]
If you’re ready to buy a home but are having a hard time affording it on your own, or, if you have aging loved ones you need to care for, you might want to consider a multi-generational home.
The Reason Mortgage Rates Are Projected to Increase and What It Means for You
We’re currently experiencing historically low mortgage rates. Over the last fifty years, the average on a Freddie Mac 30-year fixed-rate mortgage has been 7.76%. Today, that rate is 2.81%. Flocks of homebuyers have been taking advantage of these remarkably low rates over the last twelve months. However, there’s no guarantee rates will remain this low much longer.
Low Interest Rates Have a High Impact on Your Purchasing Power
According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 3.92%, which is still near record lows in comparison to recent history!
What Are the Benefits of a 20% Down Payment?
If you’re thinking of buying a home this year, you may be wondering how much money you need to come up with for your down payment. Many people may think it’s 20% of the loan to secure a mortgage. While there are plenty of lower down payment options available for qualified buyers who don’t want to put 20% down, it’s important to understand how a larger down payment can have great benefits too.
