6 steps to buying a home in your 30s (Podcast)
How do you become a home buyer in your 30s? Learn the first steps you should be taking, according to one mortgage professional.
How do you become a home buyer in your 30s? Learn the first steps you should be taking, according to one mortgage professional.
On Wednesday, existing home sales collapsed near the lows we saw during COVID-19 and back in 2007 when the housing bubble burst.
On Wednesday, existing home sales collapsed near the lows we saw during COVID-19 and back in 2007 when the housing bubble burst.
The current rate borrowers were quoted on Zillow is 3.90 percent.
There is a plausible scenario where mortgage rates continue higher for a short period and then eventually correct. Possibly as soon as next year. At the moment, 30-year fixed mortgage rates stand at about 7%, thanks to ongoing inflation concerns and action by the Federal Reserve to cool the housing market. But this battle might… Read More »Buy a House Before Mortgage Rates Come Back Down?
The post Buy a House Before Mortgage Rates Come Back Down? appeared first on The Truth About Mortgage.
Today’s mortgage and refinance rates Average mortgage rates nudged higher again yesterday. That’s six rises in the last seven working days. Earlier this morning, markets were signaling that mortgage rates […]
The Federal Reserve (aka “The Fed”) has a parrot problem, and it’s on a crash course with economic reality… maybe. The Fed sets policies that impact interest rates in an attempt to keep inflation in check without crippling the economy. After arguably leaving rate-friendly policies intact too long in 2021, they scrambled to put the brakes on inflation in 2022 with aggressive rate hikes (higher rates leave less money to buy other “stuff,” thus hopefully lower inflation by decreasing demand). For months on end, almost every Fed speaker has parroted a version of the same few thoughts: Inflation is too high Rates need to go higher still Once rates are as high as they can be, we need to keep them there for as long as we can We don’t mind doing some economic damage if it means controlling inflation We’d rather do damage and beat inflation than protect the economy and risk another inflation spike We don’t want to repeat the mistakes of the early 80s. That last bullet point has obviously been a guiding principle for the Fed–repeated by almost every member. It refers to a Fed rate cut in 1980 following a big drop in inflation. Before that, inflation had spike at an unprecedented level and the Fed hiked rates at an unprecedented level to fight it. In short, it looked like they won. They cut rates accordingly, but it proved to be too soon. Monetary scholars think the subsequent rate hikes to the highest levels ever could have been avoided if the Fed didn’t declare victory so soon.
Todayâs 30-year mortgage rates dive below 6% | Dec. 20, 2022 Fox Business
Now that interest rates have resumed their upward climb, do we have to worry about 8% mortgage rates next? Back in July, I questioned if 7% mortgage rates were on the horizon, given the steady rise seen at that time. While rates hadnât officially hit 6% then, by Freddie Macâs measure at least, they were… Read More »Watch Out for 8% Mortgage Rates
The post Watch Out for 8% Mortgage Rates appeared first on The Truth About Mortgage.
With mortgage rates constantly fluctuating, you may be wondering: when is the best time to buy a home? In most cases, sooner is better than later – but it’s always a good idea to understand what affects mortgage rates and when. In this article, we’ll cover the Federal Reserve, how it affects mortgage rates, and… View Article
The post How Does the Federal Reserve Impact Mortgage Rates? first appeared on Total Mortgage.