It was just announced that the average rate on a 30-year-mortgage fell to 3.6%, representing a three-month low. That’s 85 basis points below the 4.45% average rate the same time last year, and according to the chief economist at Freddie Mac, mortgage rates are now about ¼ of a percentage point above the historic all-time…
Mortgage rates impact buyers and sellers significantly, but it’s a concept frequently misunderstood. With the importance of mortgage rates in real estate, it’s a topic worth exploring. The Basics: What Are Mortgage Rates? When you buy a home and you borrow money in the form of a mortgage, the bank typically agrees to pay around…
Buying a home is one of the most important decisions you can make. But finding the right financing at an affordable interest rate can be tricky. To make the process just a little easier, we’ve put together a checklist of everything you need to keep in mind before you close the deal. The Mortgage Process…
There has been a lot of background noise regarding affordability issues in the housing market – we’ve been hearing about it for a few years now. In some major markets home prices fell slightly in the first quarter of 2019. At the same time, housing inventories have been growing to healthier levels, giving home buyers…